UMB Bank n.a. Reduces Stake in Apple Inc. (NASDAQ:AAPL)

UMB Bank n.a. decreased its position in Apple Inc. (NASDAQ:AAPL) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,427,406 shares of the iPhone maker’s stock after selling 31,483 shares during the quarter. Apple makes up approximately 4.0% of UMB Bank n.a.’s portfolio, making the stock its 3rd largest position. UMB Bank n.a.’s holdings in Apple were worth $274,818,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Morgan Stanley raised its position in Apple by 1.0% in the third quarter. Morgan Stanley now owns 206,732,960 shares of the iPhone maker’s stock worth $35,394,751,000 after acquiring an additional 2,018,010 shares during the period. Barclays PLC raised its stake in Apple by 6.0% in the 3rd quarter. Barclays PLC now owns 49,759,061 shares of the iPhone maker’s stock valued at $8,519,244,000 after acquiring an additional 2,826,709 shares during the period. California Public Employees Retirement System lifted its holdings in Apple by 4.6% during the third quarter. California Public Employees Retirement System now owns 38,579,495 shares of the iPhone maker’s stock valued at $6,605,195,000 after purchasing an additional 1,696,576 shares during the last quarter. Nordea Investment Management AB boosted its position in Apple by 1.7% during the third quarter. Nordea Investment Management AB now owns 17,519,918 shares of the iPhone maker’s stock worth $3,020,609,000 after purchasing an additional 287,329 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Apple by 7.5% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 14,616,794 shares of the iPhone maker’s stock worth $2,502,541,000 after purchasing an additional 1,018,430 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Citigroup restated a “buy” rating and set a $225.00 price target on shares of Apple in a research note on Friday, February 16th. DA Davidson began coverage on Apple in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $166.00 price target for the company. Maxim Group began coverage on Apple in a research note on Wednesday, April 17th. They set a “hold” rating and a $178.00 price objective on the stock. DZ Bank restated a “hold” rating and issued a $180.00 target price on shares of Apple in a research note on Thursday, March 28th. Finally, Oppenheimer reiterated an “outperform” rating and set a $200.00 price target on shares of Apple in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $203.05.

Apple Trading Up 0.6 %

Shares of AAPL stock opened at $166.90 on Wednesday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. The business has a 50-day moving average of $173.88 and a 200 day moving average of $182.03. The stock has a market capitalization of $2.58 trillion, a PE ratio of 26.00, a P/E/G ratio of 1.99 and a beta of 1.27. Apple Inc. has a 1-year low of $162.80 and a 1-year high of $199.62.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The firm had revenue of $119.60 billion for the quarter, compared to analysts’ expectations of $117.99 billion. During the same quarter last year, the business earned $1.88 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Apple Inc. will post 6.54 earnings per share for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s dividend payout ratio (DPR) is 14.95%.

Insider Transactions at Apple

In related news, CFO Luca Maestri sold 53,194 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the transaction, the chief financial officer now owns 107,788 shares in the company, valued at approximately $18,768,046.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the sale, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 53,194 shares of Apple stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the sale, the chief financial officer now owns 107,788 shares in the company, valued at approximately $18,768,046.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 366,271 shares of company stock worth $63,653,887. Company insiders own 0.06% of the company’s stock.

Apple Company 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.