Berkshire Bank Sells 2,107 Shares of Apple Inc. (NASDAQ:AAPL)

Berkshire Bank trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 96,796 shares of the iPhone maker’s stock after selling 2,107 shares during the quarter. Apple makes up 4.9% of Berkshire Bank’s holdings, making the stock its 4th biggest holding. Berkshire Bank’s holdings in Apple were worth $18,636,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Atlantic Private Wealth LLC acquired a new stake in shares of Apple during the first quarter valued at about $30,000. Wyrmwood Management LLC lifted its stake in shares of Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after acquiring an additional 69 shares during the period. Gilfoyle & Co LLC lifted its stake in shares of Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after acquiring an additional 118 shares during the period. Summit Wealth Group LLC lifted its stake in shares of Apple by 16,252.3% in the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 6,949,659 shares during the period. Finally, HBC Financial Services PLLC lifted its stake 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 worth $49,000 after acquiring an additional 80 shares during the period. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

Shares of NASDAQ AAPL opened at $165.00 on Monday. The firm has a market capitalization of $2.55 trillion, a P/E ratio of 25.70, a P/E/G ratio of 1.99 and a beta of 1.27. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The stock’s 50-day simple moving average is $174.67 and its two-hundred day simple moving average is $182.17. Apple Inc. has a twelve month low of $162.80 and a twelve month high of $199.62.

Apple (NASDAQ:AAPL) last announced its earnings results 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. The business had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.88 EPS. As a group, equities analysts anticipate that Apple Inc. will post 6.54 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were paid a $0.24 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a yield of 0.58%. Apple’s dividend payout ratio is currently 14.95%.

Analysts Set New Price Targets

AAPL has been the topic of a number of recent analyst reports. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $189.00 price objective on shares of Apple in a research note on Tuesday, March 5th. JPMorgan Chase & Co. dropped their price target on Apple from $215.00 to $210.00 and set an “overweight” rating on the stock in a research note on Thursday, April 11th. Citigroup reissued a “buy” rating and issued a $225.00 price target on shares of Apple in a research note on Friday, February 16th. Wedbush reissued an “outperform” rating and issued a $250.00 price target on shares of Apple in a research note on Tuesday, April 9th. Finally, Redburn Partners lowered Apple to a “neutral” rating and set a $200.00 price target on the stock. in a research note on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $203.34.

Insiders Place Their Bets

In other news, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the transaction, the senior vice president now directly owns 136,572 shares in the company, valued at approximately $23,068,376.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now directly owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the transaction, the senior vice president now owns 136,572 shares in the company, valued at $23,068,376.52. The disclosure for this sale can be found here. Insiders have sold 366,271 shares of company stock worth $63,653,887 in the last ninety days. 0.06% of the stock is currently owned by insiders.

Apple Profile

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.