Apple Inc. (NASDAQ:AAPL) is Field & Main Bank’s Largest Position

Field & Main Bank lowered its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 1.3% during the 3rd quarter, Holdings Channel reports. The firm owned 89,337 shares of the iPhone maker’s stock after selling 1,150 shares during the period. Apple makes up about 8.3% of Field & Main Bank’s investment portfolio, making the stock its largest holding. Field & Main Bank’s holdings in Apple were worth $12,346,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AAPL. Diversified LLC grew its position in Apple by 14.9% during the third quarter. Diversified LLC now owns 46,576 shares of the iPhone maker’s stock valued at $6,437,000 after buying an additional 6,052 shares during the period. Mendel Capital Management LLC increased its holdings in Apple by 3.3% during the 3rd quarter. Mendel Capital Management LLC now owns 23,412 shares of the iPhone maker’s stock worth $3,236,000 after acquiring an additional 749 shares during the period. AE Wealth Management LLC lifted its stake in Apple by 1.5% in the 3rd quarter. AE Wealth Management LLC now owns 2,463,954 shares of the iPhone maker’s stock worth $340,518,000 after purchasing an additional 37,553 shares in the last quarter. Mitchell Sinkler & Starr PA boosted its holdings in Apple by 5.9% in the 3rd quarter. Mitchell Sinkler & Starr PA now owns 98,705 shares of the iPhone maker’s stock valued at $13,641,000 after purchasing an additional 5,480 shares during the period. Finally, Heartwood Wealth Advisors LLC grew its position in shares of Apple by 1.0% during the 3rd quarter. Heartwood Wealth Advisors LLC now owns 9,493 shares of the iPhone maker’s stock valued at $1,312,000 after purchasing an additional 93 shares in the last quarter. Institutional investors own 57.60% of the company’s stock.

Apple Stock Performance

Apple stock opened at $141.11 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.95. The firm has a market cap of $2.23 trillion, a P/E ratio of 23.09, a P/E/G ratio of 1.78 and a beta of 1.24. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $179.61. The firm has a 50-day moving average of $138.57 and a 200-day moving average of $148.14.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. The business had revenue of $90.15 billion during the quarter, compared to analyst estimates of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. Apple’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.24 EPS. Sell-side analysts expect that Apple Inc. will post 6.19 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.65%. The ex-dividend date was Friday, November 4th. Apple’s dividend payout ratio (DPR) is currently 15.06%.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of recent analyst reports. Fundamental Research increased their price objective on Apple to $168.50 and gave the stock a “buy” rating in a research report on Tuesday, November 8th. Morgan Stanley lowered their price target on Apple from $177.00 to $175.00 and set an “overweight” rating on the stock in a report on Tuesday, November 8th. Barclays cut their price objective on Apple from $144.00 to $133.00 and set an “equal weight” rating for the company in a report on Wednesday, January 11th. Canaccord Genuity Group decreased their price objective on shares of Apple from $200.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, January 18th. Finally, KeyCorp reiterated a “buy” rating and set a $175.00 target price on shares of Apple in a research report on Tuesday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $166.44.

Insider Buying and Selling at Apple

In other news, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Chris Kondo sold 20,200 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total value of $3,004,144.00. Following the completion of the transaction, the insider now owns 31,505 shares of the company’s stock, valued at approximately $4,685,423.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $155.95, for a total value of $27,493,829.05. Following the sale, the chief financial officer now owns 110,673 shares in the company, valued at $17,259,454.35. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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