Apple Inc. (NASDAQ:AAPL) is First PREMIER Bank’s 3rd Largest Position

First PREMIER Bank cut its stake in Apple Inc. (NASDAQ:AAPL) by 0.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 91,916 shares of the iPhone maker’s stock after selling 458 shares during the period. Apple comprises approximately 5.2% of First PREMIER Bank’s portfolio, making the stock its 3rd largest position. First PREMIER Bank’s holdings in Apple were worth $19,360,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. Vanguard Group Inc. boosted its position in Apple by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after buying an additional 18,067,216 shares during the period. Norges Bank purchased a new stake in Apple during the fourth quarter valued at about $33,912,466,000. Wellington Management Group LLP boosted its position in Apple by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock valued at $11,677,190,000 after buying an additional 2,096,360 shares during the period. Fisher Asset Management LLC boosted its position in Apple by 2.0% during the fourth quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock valued at $10,531,834,000 after buying an additional 1,067,587 shares during the period. Finally, Capital International Investors boosted its position in Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after buying an additional 2,474,887 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is owned by insiders.

Apple Trading Up 0.0 %

Shares of AAPL stock opened at $222.77 on Friday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The firm’s 50 day moving average is $223.22 and its 200 day moving average is $198.23. The stock has a market capitalization of $3.42 trillion, a P/E ratio of 34.65, a P/E/G ratio of 2.60 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter last year, the company posted $1.26 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Research analysts expect that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday. Maxim Group reaffirmed a “hold” rating and set a $203.00 price objective on shares of Apple in a research note on Tuesday. Melius Research reaffirmed a “buy” rating and set a $265.00 price objective on shares of Apple in a research note on Tuesday, August 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $261.00 price objective on shares of Apple in a research note on Tuesday. Finally, DA Davidson raised shares of Apple from a “neutral” rating to a “buy” rating and upped their price objective for the company from $200.00 to $230.00 in a research note on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $238.62.

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.