Apple Inc. (NASDAQ:AAPL) is Adirondack Trust Co.’s 2nd Largest Position

Adirondack Trust Co. boosted its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,793 shares of the iPhone maker’s stock after acquiring an additional 594 shares during the period. Apple accounts for 5.8% of Adirondack Trust Co.’s holdings, making the stock its 2nd biggest position. Adirondack Trust Co.’s holdings in Apple were worth $10,909,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after purchasing an additional 8,734,393 shares in the last quarter. State Street Corp increased its stake in Apple by 1.8% during the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $112,422,274,000 after purchasing an additional 10,951,705 shares in the last quarter. Geode Capital Management LLC increased its stake in Apple by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock valued at $46,812,958,000 after purchasing an additional 4,456,954 shares in the last quarter. Norges Bank acquired a new position in Apple during the 4th quarter valued at approximately $25,228,507,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Apple by 1.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock valued at $14,097,970,000 after purchasing an additional 1,155,915 shares in the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Apple Stock Down 1.1 %

Shares of Apple stock opened at $150.70 on Friday. The firm has a market cap of $2.42 trillion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 1.97 and a beta of 1.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The stock has a 50-day simple moving average of $159.65 and a 200-day simple moving average of $156.09.

Apple (NASDAQ:AAPLGet Rating) last released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The firm had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 EPS. On average, equities research analysts expect that Apple Inc. will post 6.11 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.61%. Apple’s dividend payout ratio is 15.18%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of research reports. Credit Suisse Group set a $201.00 price objective on shares of Apple in a research note on Thursday, September 8th. Deutsche Bank Aktiengesellschaft set a $175.00 price objective on shares of Apple in a research report on Monday, August 1st. UBS Group set a $185.00 price target on shares of Apple in a research report on Wednesday. Evercore ISI lifted their price objective on shares of Apple from $180.00 to $185.00 in a report on Friday, July 29th. Finally, Bank of America decreased their price target on shares of Apple from $200.00 to $185.00 in a research note on Tuesday, July 26th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average target price of $181.52.

Insider Activity

In related news, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

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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