Apple Inc. (NASDAQ:AAPL) Stake Reduced by Idaho Trust Bank

Idaho Trust Bank reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 29.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,933 shares of the iPhone maker’s stock after selling 799 shares during the quarter. Idaho Trust Bank’s holdings in Apple were worth $484,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Drystone LLC bought a new position in shares of Apple in the fourth quarter worth $25,000. Life Planning Partners Inc bought a new position in shares of Apple in the fourth quarter worth $47,000. SPX Gestao de Recursos Ltda bought a new position in shares of Apple in the third quarter worth $71,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Apple in the third quarter worth $77,000. Finally, Pillar Financial Advisors LLC bought a new position in shares of Apple in the fourth quarter worth $82,000. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Chris Kondo sold 4,486 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider now directly owns 15,533 shares of the company’s stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the sale, the chief executive officer now directly owns 3,280,295 shares of the company’s stock, valued at $733,637,976.75. This trade represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,507 shares of company stock valued at $42,694,080. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Down 2.3%

Shares of Apple stock opened at $202.09 on Thursday. The stock has a 50-day moving average price of $205.64 and a 200 day moving average price of $226.26. The company has a market cap of $3.02 trillion, a P/E ratio of 32.08, a P/E/G ratio of 2.44 and a beta of 1.27. 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 1 year low of $169.21 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.53 EPS. As a group, analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its board has authorized a share buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a $0.26 dividend. This is an increase from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.51%. The ex-dividend date was Monday, May 12th. Apple’s dividend payout ratio is currently 16.20%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group decreased their price target on Apple from $236.00 to $210.00 and set a “neutral” rating for the company in a research note on Wednesday, April 23rd. Needham & Company LLC restated a “buy” rating and issued a $225.00 price objective on shares of Apple in a report on Friday, May 2nd. Oppenheimer lowered Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. China Renaissance started coverage on Apple in a report on Tuesday, April 22nd. They issued a “buy” rating and a $241.00 price objective for the company. Finally, DA Davidson upped their price objective on Apple from $230.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.80.

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.