Apple Inc. (NASDAQ:AAPL) is Busey Wealth Management’s Largest Position

Busey Wealth Management reduced its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.1% in the second quarter, HoldingsChannel reports. The firm owned 1,160,629 shares of the iPhone maker’s stock after selling 1,177 shares during the period. Apple makes up approximately 6.9% of Busey Wealth Management’s investment portfolio, making the stock its largest position. Busey Wealth Management’s holdings in Apple were worth $158,681,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AAPL. CFS Investment Advisory Services LLC raised its stake in Apple by 18,263.5% in the first quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock valued at $47,000 after buying an additional 7,416,445 shares during the last quarter. Spence Asset Management purchased a new stake in Apple in the second quarter valued at about $49,000. HBC Financial Services PLLC increased its holdings in shares of Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the period. Darrow Company Inc. acquired a new position in shares of Apple in the second quarter valued at about $107,000. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Apple by 6.7% in the second quarter. Harbor Capital Advisors Inc. now owns 1,046 shares of the iPhone maker’s stock valued at $143,000 after purchasing an additional 66 shares during the period. 57.72% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

NASDAQ AAPL opened at $150.18 on Wednesday. The company has a market cap of $2.39 trillion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 1.93 and a beta of 1.25. The stock’s 50 day simple moving average is $146.70 and its 200-day simple moving average is $149.66. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85.

Apple (NASDAQ:AAPLGet Rating) last released its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.02. The business had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.24 earnings per share. As a group, equities research analysts anticipate that Apple Inc. will post 6.26 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. Apple’s payout ratio is 15.06%.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of research reports. Credit Suisse Group set a $184.00 price objective on Apple in a report on Thursday, November 17th. Itaú Unibanco initiated coverage on Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective on the stock. Bank Of America (Bofa) lowered Apple from a “buy” rating to a “neutral” rating and cut their price objective for the company from $189.00 to $160.00 in a report on Friday, September 30th. Needham & Company LLC reissued a “buy” rating and issued a $170.00 price objective on shares of Apple in a report on Tuesday, November 8th. Finally, KeyCorp reaffirmed a “buy” rating and set a $175.00 target price on shares of Apple in a report on Tuesday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $176.26.

Insider Buying and Selling

In related news, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the transaction, the chief financial officer now owns 110,673 shares in the company, valued at $17,259,454.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the transaction, the chief financial officer now owns 110,673 shares in the company, valued at $17,259,454.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Deirdre O’brien sold 8,053 shares of Apple stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $142.45, for a total value of $1,147,149.85. Following the transaction, the senior vice president now owns 136,290 shares in the company, valued at approximately $19,414,510.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 360,651 shares of company stock worth $53,703,645. 0.06% of the stock is owned by corporate insiders.

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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