Apple Inc. (NASDAQ:AAPL) is OLD National Bancorp IN’s 3rd Largest Position

OLD National Bancorp IN lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 615,888 shares of the iPhone maker’s stock after selling 9,229 shares during the period. Apple makes up about 3.3% of OLD National Bancorp IN’s portfolio, making the stock its 3rd biggest position. OLD National Bancorp IN’s holdings in Apple were worth $143,502,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Hershey Financial Advisers LLC bought a new stake in shares of Apple in the 2nd quarter valued at about $42,000. Christopher J. Hasenberg Inc boosted its stake in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares in the last quarter. Cordant Inc. boosted its stake in Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after acquiring an additional 173 shares in the last quarter. Hoese & Co LLP grew its holdings in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the last quarter. Finally, Sage Financial Group Inc. acquired a new stake in shares of Apple in the 2nd quarter worth $206,000. 67.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AAPL. UBS Group reaffirmed a “neutral” rating and set a $236.00 target price on shares of Apple in a research report on Monday, December 2nd. Wells Fargo & Company increased their price objective on Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. Evercore ISI reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a report on Thursday, September 26th. New Street Research reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. Finally, Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and lifted their price objective for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $236.78.

Apple Trading Up 0.1 %

Shares of AAPL stock opened at $248.13 on Friday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $250.80. The firm has a market capitalization of $3.75 trillion, a P/E ratio of 40.81, a PEG ratio of 2.41 and a beta of 1.23. The stock’s fifty day moving average is $232.50 and its two-hundred day moving average is $223.64. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the prior year, the company earned $1.46 EPS. Apple’s revenue was up 6.1% compared to the same quarter last year. Research analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.40%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is owned by corporate insiders.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.