Apple Inc. (NASDAQ:AAPL) Shares Sold by Somerset Trust Co

Somerset Trust Co cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,960 shares of the iPhone maker’s stock after selling 1,146 shares during the quarter. Apple accounts for approximately 5.1% of Somerset Trust Co’s holdings, making the stock its 2nd biggest position. Somerset Trust Co’s holdings in Apple were worth $13,513,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Bull Oak Capital LLC lifted its holdings in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares during the period. Hershey Financial Advisers LLC acquired a new stake in Apple in the second quarter valued at $42,000. SPX Gestao de Recursos Ltda acquired a new stake in Apple in the third quarter valued at $71,000. Christopher J. Hasenberg Inc lifted its holdings in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares during the period. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in Apple in the third quarter valued at $77,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

Apple stock opened at $238.03 on Tuesday. The stock’s 50 day moving average price is $239.26 and its 200 day moving average price is $233.85. The firm has a market capitalization of $3.58 trillion, a PE ratio of 37.78, a price-to-earnings-growth ratio of 2.44 and a beta of 1.20. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a one year low of $164.07 and a one year high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, topping 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%. As a group, sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.42%. Apple’s dividend payout ratio is presently 15.87%.

Insiders Place Their Bets

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

AAPL has been the subject of a number of recent analyst reports. The Goldman Sachs Group reissued a “buy” rating on shares of Apple in a report on Wednesday, February 19th. Monness Crespi & Hardt raised their price target on Apple to $245.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Wedbush restated an “outperform” rating and issued a $325.00 price target on shares of Apple in a research report on Monday. Jefferies Financial Group restated an “underperform” rating on shares of Apple in a research report on Wednesday, February 19th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $262.00 price target on shares of Apple in a research report on Monday, January 27th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $243.88.

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.