Apple Inc. (NASDAQ:AAPL) is Farmers Trust Co.’s Largest Position

Farmers Trust Co. reduced its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,983 shares of the iPhone maker’s stock after selling 2,281 shares during the period. Apple makes up 5.2% of Farmers Trust Co.’s portfolio, making the stock its biggest holding. Farmers Trust Co.’s holdings in Apple were worth $24,093,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dark Forest Capital Management LP purchased a new position in Apple in the third quarter worth $29,000. Shore Point Advisors LLC purchased a new position in Apple in the fourth quarter worth $41,000. St. James Investment Advisors LLC purchased a new position in Apple in the fourth quarter worth $57,000. Econ Financial Services Corp purchased a new position in Apple in the fourth quarter worth $58,000. Finally, Spence Asset Management purchased a new position in Apple in the fourth quarter worth $63,000. Hedge funds and other institutional investors own 57.98% of the company’s stock.

Several brokerages recently issued reports on AAPL. Deutsche Bank Aktiengesellschaft cut their target price on shares of Apple from $200.00 to $175.00 in a research report on Tuesday, June 14th. JPMorgan Chase & Co. set a $200.00 price target on shares of Apple in a research note on Monday. Credit Suisse Group set a $169.00 price target on shares of Apple in a research note on Friday, April 29th. Barclays set a $167.00 price target on shares of Apple in a research note on Tuesday, June 7th. Finally, Deutsche Bank Rese… set a $210.00 price target on shares of Apple in a research note on Friday, April 8th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $186.55.

In related news, SVP Deirdre O’brien sold 8,000 shares of the stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $164.91, for a total transaction of $1,319,280.00. Following the transaction, the senior vice president now owns 136,290 shares in the company, valued at $22,475,583.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the transaction, the senior vice president now owns 452,334 shares in the company, valued at approximately $73,151,454.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 168,099 shares of company stock worth $29,376,711. Corporate insiders own 0.06% of the company’s stock.

Shares of AAPL opened at $135.35 on Thursday. The firm’s 50-day simple moving average is $149.10 and its two-hundred day simple moving average is $162.75. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.88 and a current ratio of 0.93. The stock has a market cap of $2.19 trillion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 1.72 and a beta of 1.20.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.09. Apple had a net margin of 26.41% and a return on equity of 152.88%. The firm had revenue of $97.28 billion for the quarter, compared to analysts’ expectations of $93.99 billion. During the same quarter in the prior year, the company posted $1.40 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities research analysts predict that Apple Inc. will post 6.11 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Monday, May 9th were issued a dividend of $0.23 per share. This is a boost from Apple’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, May 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.68%. Apple’s dividend payout ratio is presently 14.94%.

Apple declared that its Board of Directors has authorized a share buyback plan on Thursday, April 28th that authorizes the company to buyback $90.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to buy up to 3.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Apple Company Profile (Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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