Norway Savings Bank Sells 314 Shares of Apple Inc. (NASDAQ:AAPL)

Norway Savings Bank cut its stake in Apple Inc. (NASDAQ:AAPL) by 0.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 45,267 shares of the iPhone maker’s stock after selling 314 shares during the period. Apple accounts for approximately 6.3% of Norway Savings Bank’s portfolio, making the stock its largest position. Norway Savings Bank’s holdings in Apple were worth $11,336,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Strathmore Capital Advisors Inc. acquired a new stake in shares of Apple in the fourth quarter worth approximately $1,221,000. Birch Capital Management LLC boosted its position in shares of Apple by 0.5% in the fourth quarter. Birch Capital Management LLC now owns 72,390 shares of the iPhone maker’s stock worth $18,128,000 after acquiring an additional 361 shares during the last quarter. Spartan Planning & Wealth Management acquired a new stake in shares of Apple in the fourth quarter worth approximately $6,832,000. Regent Peak Wealth Advisors LLC boosted its position in shares of Apple by 0.9% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 111,858 shares of the iPhone maker’s stock worth $28,012,000 after acquiring an additional 1,050 shares during the last quarter. Finally, Stonehearth Capital Management LLC boosted its position in shares of Apple by 22.8% in the fourth quarter. Stonehearth Capital Management LLC now owns 16,493 shares of the iPhone maker’s stock worth $4,130,000 after acquiring an additional 3,059 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on AAPL. Barclays raised their price target on shares of Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Moffett Nathanson restated a “sell” rating and issued a $188.00 price target (down previously from $202.00) on shares of Apple in a report on Tuesday, January 7th. Loop Capital lowered shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price target on the stock. in a report on Tuesday, January 21st. Raymond James raised their price target on shares of Apple to $250.00 and gave the company a “buy” rating in a report on Monday, January 20th. Finally, Wells Fargo & Company raised their price target on shares of Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $242.52.

Apple Stock Down 0.1 %

AAPL stock opened at $244.47 on Wednesday. The company has a market capitalization of $3.67 trillion, a P/E ratio of 38.80, a PEG ratio of 2.32 and a beta of 1.20. The firm has a 50 day simple moving average of $240.66 and a 200-day simple moving average of $231.94. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio is presently 15.87%.

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.