Apple Inc. (NASDAQ:AAPL) Holdings Trimmed by NTB Financial Corp

NTB Financial Corp trimmed its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,426 shares of the iPhone maker’s stock after selling 518 shares during the quarter. Apple makes up 5.9% of NTB Financial Corp’s holdings, making the stock its biggest position. NTB Financial Corp’s holdings in Apple were worth $8,281,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. Cardinal Capital Management Inc. boosted its stake in Apple by 5,525.0% in the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after acquiring an additional 221 shares during the last quarter. Shore Point Advisors LLC bought a new stake in shares of Apple in the fourth quarter valued at approximately $41,000. St. James Investment Advisors LLC bought a new stake in shares of Apple in the fourth quarter valued at approximately $57,000. Emerson Wealth LLC raised its position in shares of Apple by 363.6% in the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after purchasing an additional 320 shares during the period. Finally, Econ Financial Services Corp raised its position in shares of Apple by 29.1% in the first quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock valued at $74,000 after purchasing an additional 95 shares during the period. 57.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

Shares of Apple stock opened at $173.19 on Tuesday. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The stock has a market capitalization of $2.78 trillion, a price-to-earnings ratio of 28.58, a price-to-earnings-growth ratio of 2.23 and a beta of 1.23. The company has a fifty day moving average of $148.80 and a 200-day moving average of $157.29. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.06. The business had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.30 EPS. Equities research analysts expect that Apple Inc. will post 6.1 EPS for the current year.

Apple announced that its board has approved a stock buyback program on Thursday, April 28th that authorizes the company to repurchase $90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were given a dividend of $0.23 per share. The ex-dividend date was Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.53%. Apple’s payout ratio is currently 15.18%.

Analysts Set New Price Targets

AAPL has been the topic of several research reports. Sanford C. Bernstein set a $170.00 price target on shares of Apple in a research report on Monday, May 2nd. UBS Group set a $185.00 price target on shares of Apple in a research report on Thursday, July 21st. set a $175.00 price target on shares of Apple in a research report on Friday, July 29th. Piper Sandler lowered their price target on shares of Apple from $200.00 to $195.00 in a research report on Friday, April 29th. Finally, Bank of America decreased their target price on shares of Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $179.27.

Apple Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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