Apple Inc. (NASDAQ:AAPL) Shares Sold by Farmers Trust Co.

Farmers Trust Co. trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 1.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 114,211 shares of the iPhone maker’s stock after selling 1,590 shares during the period. Apple accounts for about 5.0% of Farmers Trust Co.’s holdings, making the stock its 2nd largest position. Farmers Trust Co.’s holdings in Apple were worth $26,611,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hershey Financial Advisers LLC bought a new position in shares of Apple in the second quarter valued at approximately $42,000. Access Investment Management LLC bought a new stake in shares of Apple during the first quarter worth $140,000. Hoese & Co LLP boosted its holdings in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the last quarter. Sage Financial Group Inc. bought a new stake in shares of Apple during the second quarter worth approximately $206,000. Finally, Benchmark Wealth Management LLC bought a new position in shares of Apple in the 2nd quarter worth $208,000. Institutional investors own 60.41% of the company’s stock.

Apple Stock Up 0.1 %

Shares of NASDAQ:AAPL opened at $228.28 on Wednesday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The stock has a market cap of $3.45 trillion, a P/E ratio of 37.55, a PEG ratio of 2.20 and a beta of 1.24. The business has a fifty day moving average of $227.34 and a two-hundred day moving average of $217.31. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the prior year, the company posted $1.46 earnings per share. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, research analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of recent analyst reports. Moffett Nathanson reduced their price target on shares of Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research report on Tuesday. Oppenheimer reiterated a “buy” rating and set a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Monness Crespi & Hardt reiterated a “buy” rating and issued a $245.00 target price on shares of Apple in a research note on Monday, September 9th. The Goldman Sachs Group raised their target price on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, UBS Group upped their price target on shares of Apple to $236.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.25.

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.