Community Financial Services Group LLC Has $27.80 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Community Financial Services Group LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,299 shares of the iPhone maker’s stock after selling 1,883 shares during the quarter. Apple makes up 5.7% of Community Financial Services Group LLC’s portfolio, making the stock its 3rd largest position. Community Financial Services Group LLC’s holdings in Apple were worth $27,797,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in shares of Apple by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock valued at $11,160,183,000 after purchasing an additional 2,785,807 shares during the period. Ameriprise Financial Inc. increased its position in Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after buying an additional 3,245,281 shares during the last quarter. American Century Companies Inc. raised its stake in Apple by 3.2% in the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after buying an additional 1,065,759 shares during the period. Swedbank AB boosted its position in Apple by 13.4% during the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after purchasing an additional 2,359,409 shares during the period. Finally, TD Asset Management Inc raised its holdings in Apple by 10.3% in the 2nd quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock valued at $3,526,874,000 after acquiring an additional 1,557,848 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of AAPL stock opened at $251.04 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a market cap of $3.79 trillion, a price-to-earnings ratio of 41.29, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. The firm has a 50 day moving average of $233.09 and a 200-day moving average of $224.30. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $251.38.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data 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 return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter last year, the firm posted $1.46 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm 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 of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.40%. Apple’s dividend payout ratio is presently 16.45%.

Wall Street Analyst Weigh In

A number of research analysts have commented on AAPL shares. KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a report on Friday, October 25th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $265.00 target price on shares of Apple in a research report on Tuesday, September 10th. Citigroup raised their target price on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. New Street Research reissued a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. Finally, Rosenblatt Securities upped their price target on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $236.78.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This trade represents a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is owned by corporate insiders.

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.