Apple Inc. (NASDAQ:AAPL) Holdings Lessened by Iowa State Bank

Iowa State Bank reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,798 shares of the iPhone maker’s stock after selling 84 shares during the period. Apple comprises 3.9% of Iowa State Bank’s portfolio, making the stock its 4th largest holding. Iowa State Bank’s holdings in Apple were worth $16,134,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Kingdom Financial Group LLC. raised its position in shares of Apple by 5.5% during the 3rd quarter. Kingdom Financial Group LLC. now owns 11,464 shares of the iPhone maker’s stock valued at $1,963,000 after purchasing an additional 598 shares during the period. RFG Advisory LLC raised its holdings in Apple by 13.6% during the third quarter. RFG Advisory LLC now owns 172,823 shares of the iPhone maker’s stock valued at $29,589,000 after acquiring an additional 20,737 shares during the period. Headinvest LLC lifted its position in shares of Apple by 1.7% in the third quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after acquiring an additional 872 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of Apple by 16.1% in the fourth quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock worth $14,461,000 after acquiring an additional 10,425 shares during the period. Finally, DNB Asset Management AS grew its position in shares of Apple by 6.9% during the fourth quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock worth $829,240,000 after purchasing an additional 279,311 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.

Apple Stock Performance

Shares of Apple stock opened at $166.90 on Wednesday. Apple Inc. has a 52 week low of $162.80 and a 52 week high of $199.62. The company has a market capitalization of $2.58 trillion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 1.99 and a beta of 1.27. The stock’s fifty day moving average is $173.88 and its two-hundred day moving average is $182.03. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, topping the consensus estimate of $2.09 by $0.09. The company had revenue of $119.60 billion for the quarter, compared to the consensus estimate of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.88 EPS. As a group, analysts expect that Apple Inc. will post 6.54 earnings per share for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 annualized dividend and a yield of 0.58%. Apple’s dividend payout ratio (DPR) is currently 14.95%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AAPL shares. Robert W. Baird boosted their price target on Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Redburn Atlantic downgraded shares of Apple from a “buy” rating to a “neutral” rating and set a $200.00 target price on the stock. in a report on Wednesday, January 10th. Piper Sandler cut their target price on shares of Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. DA Davidson began coverage on shares of Apple in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $166.00 price target on the stock. Finally, DZ Bank reissued a “hold” rating and set a $180.00 price objective on shares of Apple in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $203.05.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 54,732 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Deirdre O’brien sold 54,732 shares of the business’s 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 completion of the sale, the senior vice president now owns 136,572 shares in the company, valued at approximately $23,068,376.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the transaction, the chief executive officer now owns 3,377,407 shares in the company, valued at $574,260,512.21. 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 owned by company 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.