Apple Inc. (NASDAQ:AAPL) is Dakota Community Bank & Trust NA’s 6th Largest Position

Dakota Community Bank & Trust NA trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 12.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,535 shares of the iPhone maker’s stock after selling 373 shares during the period. Apple makes up 2.4% of Dakota Community Bank & Trust NA’s investment portfolio, making the stock its 6th biggest holding. Dakota Community Bank & Trust NA’s holdings in Apple were worth $435,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Wyrmwood Management LLC grew its stake in Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 69 shares in the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Apple during the 4th quarter valued at $39,000. Gilfoyle & Co LLC grew its position in shares of Apple by 118.0% during the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after purchasing an additional 118 shares in the last quarter. University of Texas Texas AM Investment Managment Co. grew its position in shares of Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. purchased a new position in shares of Apple during the 4th quarter valued at $85,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of AAPL opened at $208.14 on Tuesday. The stock has a market cap of $3.19 trillion, a PE ratio of 32.37, a price-to-earnings-growth ratio of 2.55 and a beta of 1.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $220.20. The firm’s 50-day simple moving average is $188.57 and its two-hundred day simple moving average is $184.85.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The business’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.52 earnings per share. Analysts anticipate that Apple Inc. will post 6.58 earnings per share for the current fiscal year.

Apple announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Friday, May 10th. This is a boost from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio is 15.55%.

Insider Activity

In related news, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the sale, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Insiders have sold a total of 346,270 shares of company stock worth $60,880,196 over the last 90 days. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AAPL has been the subject of a number of recent analyst reports. Melius Research boosted their price target on shares of Apple from $227.00 to $260.00 and gave the company a “buy” rating in a research report on Monday. Maxim Group started coverage on shares of Apple in a research report on Wednesday, April 17th. They issued a “hold” rating and a $178.00 target price for the company. Erste Group Bank raised shares of Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. UBS Group reissued a “neutral” rating and issued a $190.00 price target on shares of Apple in a research note on Tuesday, June 11th. Finally, Tigress Financial boosted their price target on shares of Apple from $240.00 to $245.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $210.83.

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.