Apple Inc. $AAPL is First Horizon Advisors Inc.’s 6th Largest Position

First Horizon Advisors Inc. lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 2.8% during the second quarter, Holdings Channel.com reports. The firm owned 315,951 shares of the iPhone maker’s stock after selling 9,028 shares during the quarter. Apple comprises about 1.7% of First Horizon Advisors Inc.’s portfolio, making the stock its 6th largest holding. First Horizon Advisors Inc.’s holdings in Apple were worth $64,824,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in AAPL. Vanguard Group Inc. grew its stake in shares of Apple by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker’s stock worth $311,157,662,000 after acquiring an additional 5,005,297 shares during the last quarter. Kingstone Capital Partners Texas LLC boosted its stake in Apple by 573,627.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after purchasing an additional 205,656,808 shares in the last quarter. Northern Trust Corp grew its position in Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Apple by 14.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock valued at $26,220,566,000 after purchasing an additional 13,137,968 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Apple by 1.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 98,099,909 shares of the iPhone maker’s stock valued at $21,790,933,000 after purchasing an additional 984,157 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AAPL. Jefferies Financial Group upgraded shares of Apple from an “underperform” rating to a “hold” rating and upped their target price for the stock from $203.07 to $246.99 in a research note on Friday, October 31st. Argus set a $325.00 price objective on Apple and gave the company a “buy” rating in a research report on Friday, October 31st. Wall Street Zen downgraded Apple from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. DA Davidson boosted their price target on Apple from $250.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Finally, Rosenblatt Securities increased their price objective on Apple from $241.00 to $250.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average target price of $278.53.

Apple Stock Performance

Shares of AAPL opened at $284.15 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.89 and a quick ratio of 0.86. Apple Inc. has a one year low of $169.21 and a one year high of $288.62. The firm has a market capitalization of $4.20 trillion, a P/E ratio of 38.04, a PEG ratio of 2.64 and a beta of 1.10. The business has a fifty day moving average of $265.09 and a 200 day moving average of $233.25.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. The company had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. Apple had a return on equity of 164.05% and a net margin of 26.92%.Apple’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.64 earnings per share. As a group, sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 13.92%.

Insider Activity at Apple

In other news, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the transaction, the chief executive officer owned 3,280,295 shares in the company, valued at $842,412,558.95. This trade represents a 3.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 228,052 shares of company stock valued at $58,604,588 in the last three months. Corporate insiders own 0.06% of the company’s stock.

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.