Apple Inc. (NASDAQ:AAPL) is Fulton Bank N.A.’s 9th Largest Position

Fulton Bank N.A. reduced its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 1.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 314,661 shares of the iPhone maker’s stock after selling 5,593 shares during the period. Apple accounts for approximately 2.4% of Fulton Bank N.A.’s investment portfolio, making the stock its 9th largest position. Fulton Bank N.A.’s holdings in Apple were worth $43,021,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in AAPL. Norges Bank purchased a new stake in Apple in the 4th quarter valued at $25,228,507,000. Aaron Wealth Advisors LLC grew its holdings in Apple by 30,391.8% in the 1st quarter. Aaron Wealth Advisors LLC now owns 26,075,085 shares of the iPhone maker’s stock valued at $149,333,000 after buying an additional 25,989,570 shares in the last quarter. State Street Corp grew its holdings in Apple by 1.8% in 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 buying an additional 10,951,705 shares in the last quarter. Capital Research Global Investors grew its holdings in Apple by 31.7% in the 1st quarter. Capital Research Global Investors now owns 38,903,911 shares of the iPhone maker’s stock valued at $6,793,041,000 after buying an additional 9,354,484 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after purchasing an additional 8,734,393 shares during the period. 57.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AAPL. Oppenheimer reiterated an “outperform” rating and set a $190.00 price target on shares of Apple in a report on Wednesday, June 8th. Bank of America lowered their price target on Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. KeyCorp increased their price target on Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, August 19th. Deutsche Bank Aktiengesellschaft set a $175.00 price target on Apple in a report on Monday, August 1st. Finally, Monness Crespi & Hardt started coverage on Apple in a research note on Thursday, September 8th. They set a “buy” rating and a $174.00 target price on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.52.

Apple Price Performance

Shares of NASDAQ AAPL opened at $150.70 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The firm has a market capitalization of $2.42 trillion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23. The stock’s 50-day simple moving average is $159.65 and its 200-day simple moving average is $156.09.

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

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. Apple’s dividend payout ratio is presently 15.18%.

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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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