Apple Inc. (NASDAQ:AAPL) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 346,350 shares of the iPhone maker’s stock after selling 3,991 shares during the period. Apple accounts for 4.7% of Atlantic Union Bankshares Corp’s portfolio, making the stock its 2nd largest position. Atlantic Union Bankshares Corp’s holdings in Apple were worth $80,700,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Heritage Family Offices LLP purchased a new stake in shares of Apple in the second quarter worth about $3,331,000. Adero Partners LLC boosted its stake in Apple by 36.7% during the 2nd quarter. Adero Partners LLC now owns 125,085 shares of the iPhone maker’s stock valued at $26,345,000 after acquiring an additional 33,602 shares during the last quarter. WBI Investments LLC lifted its holdings in Apple by 304.3% during the 2nd quarter. WBI Investments LLC now owns 29,120 shares of the iPhone maker’s stock worth $6,133,000 after buying an additional 21,917 shares during the last quarter. TFB Advisors LLC raised its position in shares of Apple by 17.1% during the 2nd quarter. TFB Advisors LLC now owns 28,652 shares of the iPhone maker’s stock worth $6,035,000 after purchasing an additional 4,181 shares during the period. Finally, Kings Path Partners LLC bought a new stake in shares of Apple during the 2nd quarter worth about $322,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Trading Up 0.3 %

Shares of NASDAQ AAPL opened at $233.22 on Friday. The company’s 50 day simple moving average is $241.49 and its 200 day simple moving average is $230.96. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The firm has a market capitalization of $3.51 trillion, a P/E ratio of 37.02, a P/E/G ratio of 2.36 and a beta of 1.20.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, analysts predict that Apple Inc. will post 7.33 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders of record on Monday, February 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s payout ratio is currently 15.87%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AAPL shares. Wells Fargo & Company boosted their target price on shares of Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Rosenblatt Securities reaffirmed a “buy” rating and set a $262.00 target price on shares of Apple in a research report on Monday, January 27th. Monness Crespi & Hardt lifted their price objective on Apple to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Jefferies Financial Group downgraded shares of Apple from a “hold” rating to an “underperform” rating and dropped their price objective for the stock from $211.84 to $200.75 in a report on Thursday, January 30th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $325.00 target price on shares of Apple in a research report on Thursday, January 23rd. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $242.52.

Insider Activity

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

About Apple

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.