Wilmington Savings Fund Society FSB Sells 85,943 Shares of Apple Inc. $AAPL

Wilmington Savings Fund Society FSB lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 8.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 965,959 shares of the iPhone maker’s stock after selling 85,943 shares during the period. Apple comprises approximately 3.5% of Wilmington Savings Fund Society FSB’s holdings, making the stock its 5th largest holding. Wilmington Savings Fund Society FSB’s holdings in Apple were worth $198,186,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. First National Bank of Hutchinson boosted its position in Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after acquiring an additional 6,982 shares during the last quarter. Eagle Capital Management LLC increased its stake in Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after buying an additional 272 shares during the last quarter. Brighton Jones LLC lifted its position in Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after buying an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after buying an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE increased its position in shares of Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after acquiring an additional 1,155 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Activity

In other news, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the transaction, the senior vice president directly owned 179,158 shares in the company, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 224,300 shares of company stock valued at $57,586,933 in the last 90 days. 0.06% of the stock is owned by corporate insiders.

Apple Trading Up 2.2%

Shares of AAPL stock opened at $275.25 on Wednesday. The stock has a market cap of $4.07 trillion, a P/E ratio of 41.77, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $277.32. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock has a 50 day simple moving average of $253.91 and a 200 day simple moving average of $225.75.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.11. The firm had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.64 EPS. On average, research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Monday, November 10th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, November 10th. Apple’s dividend payout ratio is presently 13.92%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. TD Cowen raised their price target on Apple from $275.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research note on Friday, July 25th. JPMorgan Chase & Co. raised their target price on shares of Apple from $290.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. HSBC set a $220.00 price target on Apple and gave the stock a “hold” rating in a research report on Monday, September 8th. Finally, Bank of America boosted their target price on Apple from $270.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $278.22.

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.