Apple Inc. (NASDAQ:AAPL) is Oakworth Capital Inc.’s 8th Largest Position

Oakworth Capital Inc. increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 207,934 shares of the iPhone maker’s stock after purchasing an additional 663 shares during the quarter. Apple comprises about 3.6% of Oakworth Capital Inc.’s portfolio, making the stock its 8th biggest position. Oakworth Capital Inc.’s holdings in Apple were worth $52,071,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Amara Financial LLC. purchased a new stake in shares of Apple in the third quarter valued at about $288,000. Sterling Investment Counsel LLC raised its stake in Apple by 3.8% during the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after acquiring an additional 2,565 shares during the last quarter. Silicon Valley Capital Partners grew its stake in shares of Apple by 12.8% in the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock valued at $59,122,000 after purchasing an additional 28,799 shares during the last quarter. Catalyst Financial Partners LLC grew its stake in shares of Apple by 4.2% in the 3rd quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker’s stock valued at $22,505,000 after purchasing an additional 3,935 shares during the last quarter. Finally, Narwhal Capital Management increased its holdings in shares of Apple by 2.5% in the third quarter. Narwhal Capital Management now owns 276,791 shares of the iPhone maker’s stock valued at $64,492,000 after purchasing an additional 6,711 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity

In related news, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the sale, the chief executive officer now owns 3,280,295 shares of the company’s stock, valued at approximately $733,637,976.75. This represents a 3.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 38,822 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the transaction, the senior vice president now directly owns 179,158 shares in the company, valued at approximately $40,072,269.86. This trade represents a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 182,451 shares of company stock valued at $40,818,720 in the last 90 days. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

Shares of AAPL opened at $188.38 on Monday. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10. The company’s 50 day simple moving average is $229.45 and its 200 day simple moving average is $233.16. The company has a market capitalization of $2.83 trillion, a price-to-earnings ratio of 29.90, a PEG ratio of 2.44 and a beta of 1.26. 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 (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is 15.87%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of analyst reports. Tigress Financial lifted their price objective on shares of Apple from $295.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Thursday. Monness Crespi & Hardt increased their price target on shares of Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. KeyCorp reaffirmed an “underweight” rating and issued a $200.00 price objective on shares of Apple in a report on Friday, January 31st. Wedbush reissued an “outperform” rating and issued a $325.00 price target on shares of Apple in a report on Friday, March 14th. Finally, Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Apple in a research note on Friday. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $245.26.

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.