Apple Inc. (NASDAQ:AAPL) is Bank of Stockton’s 5th Largest Position

Bank of Stockton lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 42,195 shares of the iPhone maker’s stock after selling 1,056 shares during the quarter. Apple accounts for about 3.2% of Bank of Stockton’s investment portfolio, making the stock its 5th largest holding. Bank of Stockton’s holdings in Apple were worth $10,566,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp lifted its position in shares of Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares during the period. FMR LLC grew its position in Apple by 5.3% during the 3rd quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock valued at $84,779,231,000 after purchasing an additional 18,224,005 shares during the last quarter. Geode Capital Management LLC lifted its position in Apple by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock valued at $77,542,863,000 after acquiring an additional 20,483,787 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Apple by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after buying an additional 5,893,741 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Apple by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,568,390 shares of the iPhone maker’s stock worth $21,335,435,000 after purchasing an additional 1,742,087 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Up 0.5 %

Apple stock opened at $211.21 on Wednesday. Apple Inc. has a fifty-two week low of $169.11 and a fifty-two week high of $260.10. The business’s 50-day simple moving average is $214.32 and its two-hundred day simple moving average is $229.06. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The company has a market cap of $3.17 trillion, a PE ratio of 33.53, a PEG ratio of 2.44 and a beta of 1.26.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating 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%. Equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is presently 15.87%.

Insider Activity

In related news, COO Jeffrey E. Williams sold 35,493 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the sale, the chief operating officer now directly owns 390,059 shares in the company, valued at approximately $87,377,116.59. This trade represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevan Parekh sold 4,570 shares of the firm’s stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the sale, the chief financial officer now directly owns 4,569 shares of the company’s stock, valued at approximately $941,214. This trade represents a 50.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 187,021 shares of company stock worth $41,760,140 over the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. UBS Group dropped their price objective on shares of Apple from $236.00 to $210.00 and set a “neutral” rating for the company in a report on Wednesday, April 23rd. Monness Crespi & Hardt lifted their price objective on shares of Apple to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. TD Cowen reaffirmed a “buy” rating on shares of Apple in a research note on Tuesday, January 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $225.00 price objective on shares of Apple in a report on Monday, April 14th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $234.31.

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.