CHICAGO TRUST Co NA Has $21.79 Million Holdings in Apple Inc. (NASDAQ:AAPL)

CHICAGO TRUST Co NA reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.7% in the first quarter, Holdings Channel reports. The firm owned 127,039 shares of the iPhone maker’s stock after selling 2,194 shares during the quarter. Apple accounts for 4.5% of CHICAGO TRUST Co NA’s holdings, making the stock its 3rd biggest holding. CHICAGO TRUST Co NA’s holdings in Apple were worth $21,785,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of research reports. Evercore ISI raised their price objective on shares of Apple from $220.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday. Sanford C. Bernstein raised their price objective on shares of Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Canaccord Genuity Group raised their price objective on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Saturday, May 4th. Melius Research raised their price objective on shares of Apple from $227.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, Loop Capital dropped their price objective on shares of Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.71.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Apple news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 99,183 shares of Apple stock in a transaction on Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the transaction, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The disclosure for this sale can be found here. Insiders sold 346,270 shares of company stock valued at $60,880,196 over the last three months. 0.06% of the stock is owned by company insiders.

Apple Trading Down 1.6 %

Shares of AAPL opened at $210.62 on Friday. The company’s fifty day moving average is $192.13 and its 200 day moving average is $185.46. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $220.20. The stock has a market capitalization of $3.23 trillion, a PE ratio of 32.76, a P/E/G ratio of 2.59 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 (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.02. The company 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%. Apple’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.52 earnings per share. Sell-side analysts expect that Apple Inc. will post 6.59 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.47%. This is a positive change from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. Apple’s payout ratio is presently 15.55%.

Apple announced that its Board of Directors has initiated a share buyback plan on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.