Apple Inc. (NASDAQ:AAPL) Shares Bought by Independence Bank of Kentucky

Independence Bank of Kentucky increased its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.5% in the second quarter, Holdings Channel reports. The firm owned 68,088 shares of the iPhone maker’s stock after buying an additional 359 shares during the quarter. Apple accounts for approximately 4.2% of Independence Bank of Kentucky’s holdings, making the stock its 2nd biggest holding. Independence Bank of Kentucky’s holdings in Apple were worth $9,309,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Cardinal Capital Management Inc. lifted its holdings in shares of Apple by 5,525.0% in the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after purchasing an additional 221 shares in the last quarter. Shore Point Advisors LLC bought a new stake in Apple during the fourth quarter worth about $41,000. CFS Investment Advisory Services LLC increased its position in Apple by 18,263.5% during the first quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock worth $47,000 after buying an additional 7,416,445 shares during the last quarter. HBC Financial Services PLLC increased its position in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares during the last quarter. Finally, Emerson Wealth LLC increased its position in Apple by 363.6% during the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after buying an additional 320 shares during the last quarter. 57.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Apple

In related news, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction 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 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 disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several research reports. Citigroup upped their target price on Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, July 29th. The Goldman Sachs Group restated a “neutral” rating and set a $139.00 target price on shares of Apple in a research note on Thursday, September 8th. Deutsche Bank Aktiengesellschaft set a $175.00 price target on Apple in a research note on Monday, August 1st. Rosenblatt Securities dropped their price target on Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, July 29th. Finally, Morgan Stanley lowered their target price on Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $181.52.

Apple Stock Down 1.1 %

Shares of AAPL stock opened at $150.70 on Friday. The company has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 24.87, a PEG ratio of 1.97 and a beta of 1.23. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The company’s fifty day moving average price is $159.65 and its 200-day moving average price is $156.09. 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 (NASDAQ:AAPLGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. The firm had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm earned $1.30 EPS. Sell-side analysts expect that Apple Inc. will post 6.11 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 0.61%. Apple’s payout ratio is 15.18%.

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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