Apple Inc. (NASDAQ:AAPL) is First Farmers & Merchants Bank Trust’s 2nd Largest Position

First Farmers & Merchants Bank Trust lessened its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 1.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,626 shares of the iPhone maker’s stock after selling 623 shares during the quarter. Apple accounts for about 5.9% of First Farmers & Merchants Bank Trust’s holdings, making the stock its 2nd biggest holding. First Farmers & Merchants Bank Trust’s holdings in Apple were worth $5,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Daniels&Tansey LLP increased its holdings in shares of Apple by 1.6% in the 4th quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock valued at $685,000 after acquiring an additional 60 shares during the period. Hanlon Investment Management Inc. increased its holdings in shares of Apple by 0.7% in the 4th quarter. Hanlon Investment Management Inc. now owns 10,124 shares of the iPhone maker’s stock valued at $1,798,000 after acquiring an additional 66 shares during the period. Financial Planning & Information Services Inc. increased its holdings in shares of Apple by 1.0% in the 4th quarter. Financial Planning & Information Services Inc. now owns 6,837 shares of the iPhone maker’s stock valued at $1,214,000 after acquiring an additional 67 shares during the period. Salzhauer Michael increased its holdings in shares of Apple by 2.0% in the 4th quarter. Salzhauer Michael now owns 3,397 shares of the iPhone maker’s stock valued at $603,000 after acquiring an additional 67 shares during the period. Finally, MorganRosel Wealth Management LLC increased its holdings in shares of Apple by 1.1% in the 4th quarter. MorganRosel Wealth Management LLC now owns 6,394 shares of the iPhone maker’s stock valued at $1,135,000 after acquiring an additional 70 shares during the period. 57.98% of the stock is owned by institutional investors.

In other news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 105,901 shares of the company’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $177.75, for a total transaction of $18,823,902.75. Following the transaction, the chief operating officer now directly owns 489,662 shares of the company’s stock, valued at approximately $87,037,420.50. The disclosure for this sale can be found here. Insiders sold a total of 168,099 shares of company stock valued at $29,376,711 in the last three months. 0.06% of the stock is currently owned by corporate insiders.

Shares of AAPL stock opened at $135.35 on Thursday. The firm has a 50-day moving average price of $149.10 and a 200 day moving average price of $162.75. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. The company has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 21.97, a PEG ratio of 1.72 and a beta of 1.20. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53.

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $93.99 billion. During the same quarter in the previous year, the company posted $1.40 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, research analysts predict that Apple Inc. will post 6.11 earnings per share for the current year.

Apple declared that its board has approved a share buyback plan on Thursday, April 28th that authorizes the company to buyback $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Investors of record on Monday, May 9th were paid a $0.23 dividend. This is an increase 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 annualized dividend and a yield of 0.68%. Apple’s payout ratio is presently 14.94%.

A number of equities analysts have recently commented on AAPL shares. Evercore ISI began coverage on shares of Apple in a report on Friday, March 25th. They issued a “buy” rating and a $210.00 target price on the stock. StockNews.com began coverage on shares of Apple in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Rosenblatt Securities lowered their price objective on shares of Apple from $184.00 to $168.00 and set a “neutral” rating on the stock in a research report on Monday, May 2nd. Sanford C. Bernstein set a $170.00 price objective on shares of Apple in a research report on Monday, May 2nd. Finally, UBS Group set a $185.00 price objective on shares of Apple in a research report on Tuesday. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $186.55.

About Apple (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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