First Financial Corp IN Has $3.87 Million Stake in Apple Inc. (NASDAQ:AAPL)

First Financial Corp IN decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 21.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,538 shares of the iPhone maker’s stock after selling 6,150 shares during the period. Apple comprises about 2.0% of First Financial Corp IN’s portfolio, making the stock its 6th largest holding. First Financial Corp IN’s holdings in Apple were worth $3,865,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Yeomans Consulting Group Inc. bought a new stake in Apple during the fourth quarter valued at $1,713,000. Raleigh Capital Management Inc. increased its stake in Apple by 11.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after purchasing an additional 1,643 shares during the last quarter. Headinvest LLC increased its stake in Apple by 1.7% during the third quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after purchasing an additional 872 shares during the last quarter. GLOBALT Investments LLC GA bought a new stake in Apple during the fourth quarter valued at $38,406,000. Finally, Barden Capital Management Inc. increased its stake in Apple by 132.8% during the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after purchasing an additional 18,615 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Insider Activity

In other news, COO Jeffrey E. Williams sold 59,162 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $172.22, for a total value of $10,188,879.64. Following the transaction, the chief operating officer now owns 489,944 shares in the company, valued at approximately $84,378,155.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Jeffrey E. Williams sold 59,162 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $172.22, for a total value of $10,188,879.64. Following the transaction, the chief operating officer now owns 489,944 shares in the company, valued at approximately $84,378,155.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Insiders have sold 192,355 shares of company stock worth $34,771,329 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $220.00 target price on shares of Apple in a research note on Monday. Citigroup lowered their price target on shares of Apple from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Bank of America restated a “buy” rating and set a $230.00 price target on shares of Apple in a research report on Wednesday, June 26th. Monness Crespi & Hardt restated a “buy” rating and set a $205.00 price target on shares of Apple in a research report on Thursday, June 6th. Finally, Morgan Stanley restated an “overweight” rating and set a $216.00 price target on shares of Apple in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $215.71.

Apple Price Performance

AAPL stock opened at $216.75 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. Apple Inc. has a one year low of $164.07 and a one year high of $220.20. The firm has a market capitalization of $3.32 trillion, a PE ratio of 33.71, a P/E/G ratio of 2.56 and a beta of 1.24. The firm has a 50-day moving average of $192.13 and a two-hundred day moving average of $185.31.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The company had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. During the same period in the prior year, the firm earned $1.52 earnings per share. The business’s quarterly revenue was down 4.3% on a year-over-year basis. On average, analysts forecast that Apple Inc. will post 6.59 earnings per share for the current year.

Apple declared that its board has approved a share repurchase program on Thursday, May 2nd that permits the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were issued a $0.25 dividend. This is an increase from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. Apple’s dividend payout ratio is currently 15.55%.

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.