Security National Bank of Sioux City Iowa IA Reduces Stake in Apple Inc. (NASDAQ:AAPL)

Security National Bank of Sioux City Iowa IA lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 31,648 shares of the iPhone maker’s stock after selling 1,521 shares during the quarter. Apple comprises approximately 4.8% of Security National Bank of Sioux City Iowa IA’s investment portfolio, making the stock its 3rd largest position. Security National Bank of Sioux City Iowa IA’s holdings in Apple were worth $6,666,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AAPL. Fidelis Capital Partners LLC raised its holdings in shares of Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares during the last quarter. Access Investment Management LLC bought a new stake in Apple in the 1st quarter worth approximately $140,000. Hoese & Co LLP raised its stake in Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares during the last quarter. Sage Financial Group Inc. bought a new position in shares of Apple during the 2nd quarter valued at $206,000. Finally, Benchmark Wealth Management LLC bought a new position in shares of Apple during the 2nd quarter valued at $208,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

Apple stock opened at $225.12 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The company’s 50-day moving average price is $226.75 and its 200-day moving average price is $215.45. The company has a market cap of $3.40 trillion, a PE ratio of 37.03, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.46 earnings per share. On average, equities research analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research reports. Oppenheimer reiterated a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Tuesday, October 1st. The Goldman Sachs Group upped their price target on shares of Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group downgraded shares of Apple from a “buy” rating to a “hold” rating and raised their price objective for the stock from $205.00 to $212.92 in a report on Monday, October 7th. UBS Group upped their target price on shares of Apple to $236.00 and gave the company a “hold” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $265.00 price target on shares of Apple in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $235.51.

Insider Transactions at Apple

In related news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares in the company, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 404,040 shares of company stock worth $91,062,512. 0.06% of the stock is currently owned by insiders.

Apple 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.