Apple Inc. (NASDAQ:AAPL) is Home Federal Bank of Tennessee’s 6th Largest Position

Home Federal Bank of Tennessee lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 30,550 shares of the iPhone maker’s stock after buying an additional 452 shares during the period. Apple comprises about 2.0% of Home Federal Bank of Tennessee’s holdings, making the stock its 6th largest position. Home Federal Bank of Tennessee’s holdings in Apple were worth $6,434,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AAPL. Foresight Capital Management Advisors Inc. lifted its holdings in Apple by 0.3% in the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock worth $4,003,000 after purchasing an additional 55 shares in the last quarter. Hoese & Co LLP lifted its holdings in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares in the last quarter. Stableford Capital II LLC boosted its position in shares of Apple by 0.3% during the first quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock worth $2,942,000 after acquiring an additional 59 shares during the last quarter. Whitcomb & Hess Inc. grew its stake in Apple by 1.7% during the second quarter. Whitcomb & Hess Inc. now owns 3,540 shares of the iPhone maker’s stock valued at $746,000 after acquiring an additional 59 shares in the last quarter. Finally, Kwmg LLC increased its holdings in Apple by 0.6% in the 1st quarter. Kwmg LLC now owns 10,640 shares of the iPhone maker’s stock valued at $1,825,000 after acquiring an additional 60 shares during the last quarter. 60.41% of the stock is owned by institutional investors.

Apple Trading Down 0.1 %

Shares of NASDAQ AAPL opened at $222.50 on Friday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23. The firm has a market cap of $3.38 trillion, a PE ratio of 34.60, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. The business has a fifty day simple moving average of $223.14 and a two-hundred day simple moving average of $198.52. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

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

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s payout ratio is presently 15.55%.

Insider Activity

In related news, SVP Katherine L. Adams sold 100,000 shares of the business’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 completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,884 shares of company stock worth $23,723,887. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Apple in a research report on Tuesday. Barclays reduced their price objective on Apple from $187.00 to $186.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Piper Sandler Companies reissued a “neutral” rating and issued a $225.00 target price (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. TD Cowen boosted their price target on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Loop Capital raised shares of Apple from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $170.00 to $300.00 in a research note on Monday, July 15th. One research 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $238.62.

Apple 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.