First National Bank of Hutchinson reduced its position in Apple Inc. (NASDAQ:AAPL)

First National Bank of Hutchinson trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 4.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 29,290 shares of the iPhone maker’s stock after selling 1,387 shares during the period. Apple accounts for about 3.4% of First National Bank of Hutchinson’s holdings, making the stock its 6th largest position. First National Bank of Hutchinson’s holdings in Apple were worth $5,023,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have recently made changes to their positions in the company. Flagstone Financial Management boosted its holdings in Apple by 0.9% in the fourth quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock worth $1,173,000 after buying an additional 56 shares during the last quarter. Columbus Macro LLC boosted its holdings in Apple by 0.5% in the fourth quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock worth $2,120,000 after purchasing an additional 59 shares during the period. Stableford Capital II LLC boosted its holdings in shares of Apple by 0.3% in the first quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock valued at $2,942,000 after buying an additional 59 shares in the last quarter. Kwmg LLC grew its position in Apple by 0.6% in the first quarter. Kwmg LLC now owns 10,640 shares of the iPhone maker’s stock worth $1,825,000 after acquiring an additional 60 shares during the period. Finally, Greylin Investment Management Inc grew its position in shares of Apple by 0.4% in the first quarter. Greylin Investment Management Inc now owns 16,711 shares of the iPhone maker’s stock valued at $2,866,000 after purchasing an additional 61 shares during the period. Institutional investors own 60.41% of the company’s shares.

Insider buying and selling

In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The sale was disclosed in a filing with the SEC, which is available via this hyperlink. In related news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the transaction, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 179,999 shares of company stock worth $35,964,310. Company insiders own 0.06% of the company’s shares.

Apple stock performance

Shares of AAPL opened at $216.24 on Friday. The company has a market cap of $3.32 trillion, a P/E ratio of 33.63, a P/E/G ratio of 2.60 and a beta of 1.24. The company’s 50-day moving average is $215.80, and its two-hundred-day moving average is $192.04. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23. The company has a current ratio of 1.04, a quick ratio of 0.99, and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPL – Get Free Report ) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 145.35% and a net margin of 26.44%. The firm had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. In the same quarter last year, the firm posted EPS of $1.26. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts expect Apple Inc. will record 6.61 EPS for the current fiscal year.

Apple declared that its Board of Directors has initiated a stock buyback program on Thursday, May 2nd that permits the company to repurchase $110.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to buy back up to 3.9% of its shares through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Apple announces dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, August 12th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 12. This represents a dividend of $1.00 on an annualized basis and a dividend yield of 0.46%. Apple’s dividend payout ratio is currently 15.55%.

Analysts set new price targets

A number of equities research analysts recently weighed in on AAPL shares. Itau BBA Securities upgraded shares of Apple from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $162.00 to $188.00 in a report on Friday. May 3rd. Bank of America restated a “buy” rating and set a $230.00 price objective on shares of Apple in a research report on Tuesday, July 9th. Maxim Group raised their target price on shares of Apple from $195.00 to $203.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. StockNews.com raised shares of Apple from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Piper Sandler upped their target price on shares of Apple from $190.00 to $225.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. Apple has an average rating of “Moderate Buy” and a consensus price target of $234.29, according to MarketBeat .

Check out the latest stock analysis on Apple

Apple profile

(Free Report)

Apple Inc designs, manufactures and markets smartphones, personal computers, tablets, wearable devices and accessories worldwide. The company offers the iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multifunction tablets; and wearables, home and accessories including AirPods, Apple TV, Apple Watch, Beats products and HomePod.

Read more

Want to see what other hedge funds own AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Apple Inc. (NASDAQ:AAPL – Free Report).

Get news and reviews for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.