First National Trust Co reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.8% in the 1st quarter, HoldingsChannel reports. The firm owned 445,241 shares of the iPhone maker’s stock after selling 17,674 shares during the period. Apple comprises approximately 3.6% of First National Trust Co’s holdings, making the stock its 3rd largest position. First National Trust Co’s holdings in Apple were worth $54,386,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in Apple during the fourth quarter worth about $22,236,319,000. FMR LLC grew its position in Apple by 3.4% during the fourth quarter. FMR LLC now owns 358,551,697 shares of the iPhone maker’s stock worth $47,576,225,000 after buying an additional 11,852,200 shares during the period. Itau Unibanco Holding S.A. grew its position in Apple by 9,693.5% during the fourth quarter. Itau Unibanco Holding S.A. now owns 7,778,120 shares of the iPhone maker’s stock worth $123,000 after buying an additional 7,698,699 shares during the period. Morgan Stanley grew its position in Apple by 4.6% during the fourth quarter. Morgan Stanley now owns 130,352,438 shares of the iPhone maker’s stock worth $17,296,465,000 after buying an additional 5,738,590 shares during the period. Finally, Oak Ridge Investments LLC grew its position in Apple by 1,041.0% during the first quarter. Oak Ridge Investments LLC now owns 6,118,670 shares of the iPhone maker’s stock worth $747,396,000 after buying an additional 5,582,423 shares during the period. 56.33% of the stock is owned by hedge funds and other institutional investors.
In other Apple news, COO Jeffrey E. Williams sold 133,867 shares of the firm’s stock in a transaction on Monday, April 5th. The shares were sold at an average price of $125.74, for a total transaction of $16,832,436.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Luca Maestri sold 121,072 shares of the firm’s stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $132.81, for a total transaction of $16,079,572.32. Following the transaction, the chief financial officer now directly owns 143,961 shares of the company’s stock, valued at $19,119,460.41. The disclosure for this sale can be found here. Over the last three months, insiders have sold 290,155 shares of company stock valued at $37,610,735. 0.06% of the stock is owned by company insiders.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, April 27th. The iPhone maker reported $1.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.41. The company had revenue of $89.58 billion during the quarter, compared to analyst estimates of $76.84 billion. Apple had a net margin of 23.45% and a return on equity of 111.80%. The firm’s revenue for the quarter was up 53.6% compared to the same quarter last year. During the same period last year, the business earned $0.64 EPS. Analysts forecast that Apple Inc. will post 5.17 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 13th. Shareholders of record on Monday, May 10th were issued a dividend of $0.22 per share. This is a positive change from Apple’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.70%. The ex-dividend date was Friday, May 7th. Apple’s dividend payout ratio (DPR) is currently 26.83%.
Several research analysts have weighed in on AAPL shares. JPMorgan Chase & Co. restated a “buy” rating and set a $165.00 target price on shares of Apple in a research report on Wednesday, May 5th. Credit Suisse Group reiterated a “neutral” rating and issued a $150.00 price target on shares of Apple in a research report on Tuesday. UBS Group set a $155.00 price target on shares of Apple and gave the company a “buy” rating in a research report on Thursday, May 20th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $130.00 price target on shares of Apple in a research report on Tuesday. Finally, Wedbush increased their price target on shares of Apple from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, April 29th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $148.91.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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