UMB Bank N A MO Reduces Holdings in Apple Inc. (NASDAQ:AAPL)

UMB Bank N A MO lowered its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.3% during the first quarter, Holdings Channel.com reports. The firm owned 1,513,370 shares of the iPhone maker’s stock after selling 4,982 shares during the quarter. Apple makes up about 3.5% of UMB Bank N A MO’s investment portfolio, making the stock its 3rd biggest position. UMB Bank N A MO’s holdings in Apple were worth $264,249,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Apple by 1.8% in the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $112,422,274,000 after buying an additional 10,951,705 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Apple by 1.7% in the fourth 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 during the last quarter. Norges Bank purchased a new position in shares of Apple in the fourth quarter worth about $25,228,507,000. Charles Schwab Investment Management Inc. raised its stake in shares of Apple by 1.6% in the fourth 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 during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Apple by 5.1% in the fourth quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker’s stock worth $11,361,302,000 after purchasing an additional 3,096,696 shares during the last quarter. Institutional investors own 57.98% of the company’s stock.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 452,334 shares of the company’s stock, valued at $73,151,454.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Performance

Shares of NASDAQ: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 business’s 50 day moving average price is $142.90 and its 200-day moving average price is $158.03. The firm has a market capitalization of $2.49 trillion, a PE ratio of 25.01, a P/E/G 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.

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

Apple announced that its board has approved a share buyback plan 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 plans are typically a sign that the company’s leadership believes its shares are undervalued.

Apple Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AAPL shares. Credit Suisse Group set a $169.00 price objective on Apple in a research note on Friday, April 29th. Morgan Stanley reduced their price objective on Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday. The Goldman Sachs Group set a $130.00 price objective on Apple in a research note on Tuesday. Deutsche Bank Rese… set a $210.00 price target on Apple in a research report on Friday, April 8th. Finally, Bank of America reduced their price target on Apple from $215.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 19th. Nine research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.

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