Apple Inc. $AAPL Shares Sold by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH decreased its position in Apple Inc. (NASDAQ:AAPL) by 2.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 265,830 shares of the iPhone maker’s stock after selling 5,870 shares during the period. Apple makes up 6.0% of Trust Co. of Toledo NA OH’s investment portfolio, making the stock its 2nd biggest holding. Trust Co. of Toledo NA OH’s holdings in Apple were worth $54,540,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Ryan Investment Management Inc. bought a new position in shares of Apple during the 2nd quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC lifted its position in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares in the last quarter. LSV Asset Management acquired a new position in Apple during the fourth quarter worth $65,000. Elite Financial Inc. bought a new position in Apple in the first quarter valued at $58,000. Finally, HFM Investment Advisors LLC bought a new position in Apple in the first quarter valued at $99,000. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Down 0.1%

AAPL opened at $269.77 on Friday. The stock’s fifty day simple moving average is $251.53 and its 200 day simple moving average is $224.02. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $277.32. The stock has a market cap of $4.00 trillion, a PE ratio of 40.94, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. The firm had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.64 earnings per share. As a group, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Monday, November 10th will be paid a $0.26 dividend. The ex-dividend date is Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio is 13.92%.

Insider Activity at Apple

In other Apple news, CFO Kevan Parekh sold 4,199 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the completion of the sale, the chief financial officer directly owned 8,765 shares in the company, valued at $2,168,373.35. This trade represents a 32.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the transaction, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. The trade was a 20.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 224,300 shares of company stock valued at $57,586,933 in the last 90 days. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of recent research reports. Needham & Company LLC restated a “hold” rating on shares of Apple in a research note on Friday, July 25th. BMO Capital Markets reiterated a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Argus set a $325.00 price target on Apple and gave the company a “buy” rating in a research note on Friday, October 31st. JPMorgan Chase & Co. boosted their price target on Apple from $290.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Finally, Monness Crespi & Hardt increased their price objective on Apple from $270.00 to $300.00 and gave the company a “buy” rating in a report on Friday, October 31st. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $278.22.

Apple Company 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.