Indiana Trust & Investment Management CO Sells 645 Shares of Apple Inc. (NASDAQ:AAPL)

Indiana Trust & Investment Management CO decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 68,312 shares of the iPhone maker’s stock after selling 645 shares during the quarter. Apple accounts for about 5.9% of Indiana Trust & Investment Management CO’s investment portfolio, making the stock its 2nd largest position. Indiana Trust & Investment Management CO’s holdings in Apple were worth $13,152,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in AAPL. Kingdom Financial Group LLC. raised its stake in 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 increased its stake in shares of Apple by 13.6% in the third quarter. RFG Advisory LLC now owns 172,823 shares of the iPhone maker’s stock worth $29,589,000 after acquiring an additional 20,737 shares during the last quarter. Headinvest LLC increased its stake in shares of Apple by 1.7% in the third quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after acquiring an additional 872 shares during the last quarter. Sound Income Strategies LLC increased 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 last quarter. Finally, DNB Asset Management AS increased its stake in shares of Apple by 6.9% in the fourth quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock worth $829,240,000 after acquiring an additional 279,311 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AAPL shares. Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Apple in a research note on Friday, February 2nd. Piper Sandler decreased their price objective on shares of Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Redburn Partners cut shares of Apple to a “neutral” rating and set a $200.00 price objective for the company. in a report on Wednesday, January 10th. Barclays reiterated an “underweight” rating and issued a $158.00 price objective on shares of Apple in a report on Tuesday. Finally, Piper Sandler Companies cut shares of Apple to a “neutral” rating and decreased their price objective for the stock from $220.00 to $205.00 in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $203.05.

Apple Stock Performance

NASDAQ:AAPL opened at $169.89 on Friday. Apple Inc. has a 12-month low of $162.80 and a 12-month high of $199.62. 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 firm has a market capitalization of $2.62 trillion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 2.01 and a beta of 1.27. The firm has a 50-day moving average price of $173.30 and a 200 day moving average price of $181.85.

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

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s dividend payout ratio is currently 14.95%.

Insider Activity at Apple

In related news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the sale, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The disclosure for this sale can be found here. Insiders sold a total of 366,271 shares of company stock valued at $63,653,887 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Apple Company 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.