Apple Inc. (NASDAQ:AAPL) Stock Holdings Cut by Cape ANN Savings Bank

Cape ANN Savings Bank reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 2.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,855 shares of the iPhone maker’s stock after selling 861 shares during the period. Apple makes up 5.0% of Cape ANN Savings Bank’s portfolio, making the stock its 5th largest holding. Cape ANN Savings Bank’s holdings in Apple were worth $8,587,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Hershey Financial Advisers LLC bought a new stake in Apple during the second quarter worth approximately $42,000. Hoese & Co LLP increased its position in shares of 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 purchasing an additional 57 shares during the last quarter. Sage Financial Group Inc. purchased a new stake in Apple during the 2nd quarter valued at $206,000. Benchmark Wealth Management LLC bought a new stake in Apple in the second quarter worth $208,000. Finally, SMH Capital Advisors Inc. purchased a new position in Apple during the second quarter worth $209,000. 60.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Apple

In related news, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. This represents a 24.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 408,170 shares of company stock valued at $92,007,745. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AAPL shares. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and raised their target price for the stock from $205.00 to $212.92 in a report on Monday, October 7th. The Goldman Sachs Group boosted their target price on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Monness Crespi & Hardt reiterated a “buy” rating and issued a $245.00 price target on shares of Apple in a report on Monday, September 9th. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. Finally, Bank of America reiterated a “buy” rating and set a $256.00 target price on shares of Apple in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.25.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $232.87 on Tuesday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The company has a market cap of $3.52 trillion, a PE ratio of 38.30, a price-to-earnings-growth ratio of 2.25 and a beta of 1.24. The company’s 50 day moving average is $228.06 and its 200 day moving average is $218.64.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter last year, the company posted $1.46 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. Apple’s payout ratio is 16.45%.

About Apple

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.