Apple Inc. (NASDAQ:AAPL) Holdings Increased by First National Bank of Hutchinson

First National Bank of Hutchinson lifted its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 2.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,893 shares of the iPhone maker’s stock after buying an additional 877 shares during the quarter. Apple makes up about 3.4% of First National Bank of Hutchinson’s holdings, making the stock its 5th biggest holding. First National Bank of Hutchinson’s holdings in Apple were worth $5,918,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its stake in Apple by 1.8% in the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after purchasing an additional 10,951,705 shares in the last quarter. Geode Capital Management LLC boosted its stake in Apple by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock worth $46,812,958,000 after purchasing an additional 4,456,954 shares in the last quarter. Norges Bank bought a new position in Apple in the 4th quarter worth about $25,228,507,000. Charles Schwab Investment Management Inc. boosted its stake in Apple by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker’s stock worth $14,131,710,000 after purchasing an additional 1,273,148 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Apple by 5.1% during the 4th quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker’s stock valued at $11,361,302,000 after acquiring an additional 3,096,696 shares during the period. 57.98% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Down 0.8 %

Shares of AAPL opened at $154.09 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88. The firm has a market cap of $2.49 trillion, a P/E ratio of 25.01, a price-to-earnings-growth ratio of 1.98 and a beta of 1.19. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The company has a 50 day simple moving average of $142.90 and a two-hundred day simple moving average of $158.03.

Apple (NASDAQ:AAPLGet Rating) last posted its earnings results on Thursday, April 28th. The iPhone maker reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.09. The firm had revenue of $97.28 billion during the quarter, compared to the consensus estimate of $93.99 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.40 EPS. On average, equities analysts expect that Apple Inc. will post 6.09 earnings per share for the current fiscal year.

Apple announced that its board has authorized a share repurchase program on Thursday, April 28th that allows the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Monday, May 9th were given a dividend of $0.23 per share. This is an increase from Apple’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Friday, May 6th. Apple’s dividend payout ratio is currently 14.94%.

Insider Activity

In other news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the transaction, the senior vice president now directly owns 452,334 shares in the company, valued at approximately $73,151,454.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on AAPL. Citigroup lowered their target price on shares of Apple from $200.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, July 13th. Rosenblatt Securities lowered their target price on shares of Apple from $184.00 to $168.00 and set a “neutral” rating on the stock in a research note on Monday, May 2nd. Loop Capital lowered their target price on shares of Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, May 25th. Bank of America lowered their target price on shares of Apple from $215.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, May 19th. Finally, Barclays reduced their price target on shares of Apple from $167.00 to $166.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 13th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $182.73.

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.

Further Reading

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).



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