Apple Inc. (NASDAQ:AAPL) Stake Reduced by Sandy Spring Bank

Sandy Spring Bank lowered its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 1.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 467,604 shares of the iPhone maker’s stock after selling 4,666 shares during the period. Apple comprises about 4.5% of Sandy Spring Bank’s portfolio, making the stock its 3rd largest holding. Sandy Spring Bank’s holdings in Apple were worth $80,058,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. IFM Investors Pty Ltd boosted its holdings in Apple by 20.0% in the 1st quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock worth $456,728,000 after buying an additional 435,891 shares during the last quarter. Ironwood Wealth Management LLC. boosted its holdings in Apple by 0.4% in the 1st quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock worth $42,016,000 after buying an additional 1,040 shares during the last quarter. Markel Corp boosted its holdings in Apple by 0.7% in the 1st quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock worth $210,752,000 after buying an additional 8,450 shares during the last quarter. Camden Capital LLC boosted its holdings in Apple by 9.2% in the 1st quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock worth $27,305,000 after buying an additional 13,200 shares during the last quarter. Finally, Harbor Island Capital LLC boosted its holdings in Apple by 0.3% in the 1st quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock worth $23,629,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Apple Stock Down 0.6 %

Apple stock opened at $188.32 on Friday. Apple Inc. has a twelve month low of $143.90 and a twelve month high of $199.62. The stock’s fifty day simple moving average is $190.56 and its 200-day simple moving average is $184.21. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $2.91 trillion, a P/E ratio of 29.33, a P/E/G ratio of 2.27 and a beta of 1.31.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. Apple had a return on equity of 156.04% and a net margin of 26.16%. The business had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. During the same quarter in the prior year, the company earned $1.88 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. As a group, equities analysts expect that Apple Inc. will post 6.58 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Monday, February 12th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Friday, February 9th. Apple’s payout ratio is 14.95%.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 5,513 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $192.00, for a total transaction of $1,058,496.00. Following the transaction, the insider now owns 29,174 shares of the company’s stock, valued at $5,601,408. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Chris Kondo sold 5,513 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $192.00, for a total value of $1,058,496.00. Following the completion of the sale, the insider now owns 29,174 shares in the company, valued at $5,601,408. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 123,448 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $188.79, for a total transaction of $23,305,747.92. Following the completion of the sale, the senior vice president now owns 293,266 shares of the company’s stock, valued at approximately $55,365,688.14. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AAPL shares. JPMorgan Chase & Co. lowered their price objective on Apple from $225.00 to $215.00 and set an “overweight” rating on the stock in a report on Friday, February 2nd. Piper Sandler Companies cut Apple to a “neutral” rating and lowered their price objective for the stock from $220.00 to $205.00 in a report on Thursday, January 4th. Wedbush restated an “outperform” rating and set a $250.00 target price on shares of Apple in a report on Tuesday, January 30th. Monness Crespi & Hardt boosted their target price on Apple from $189.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Robert W. Baird boosted their target price on Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.72.

Read Our Latest Analysis on AAPL

Apple Company Profile

(Free Report)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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