Enterprise Financial Services Corp Has $11.53 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Enterprise Financial Services Corp raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,026 shares of the iPhone maker’s stock after purchasing an additional 260 shares during the period. Apple accounts for approximately 6.4% of Enterprise Financial Services Corp’s investment portfolio, making the stock its 2nd biggest position. Enterprise Financial Services Corp’s holdings in Apple were worth $11,526,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Drystone LLC acquired a new stake in Apple during the 4th quarter worth about $25,000. Life Planning Partners Inc acquired a new stake in shares of Apple in the 4th quarter valued at about $47,000. SPX Gestao de Recursos Ltda acquired a new stake in shares of Apple in the 3rd quarter valued at about $71,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Apple in the 3rd quarter valued at about $77,000. Finally, Pillar Financial Advisors LLC acquired a new stake in shares of Apple in the 4th quarter valued at about $82,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

Apple stock opened at $211.26 on Monday. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company’s 50 day moving average price is $206.09 and its two-hundred day moving average price is $226.67. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The stock has a market cap of $3.16 trillion, a P/E ratio of 33.53, a P/E/G ratio of 2.44 and a beta of 1.27.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 160.83%. The firm had revenue of $95.36 billion for the quarter, compared to analysts’ expectations of $94.04 billion. During the same quarter last year, the firm earned $1.53 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. This is a boost from Apple’s previous quarterly dividend of $0.25. Apple’s payout ratio is 16.20%.

Apple announced that its board has approved a share repurchase program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. UBS Group reduced their target price on Apple from $236.00 to $210.00 and set a “neutral” rating for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their target price on Apple from $270.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group reduced their target price on Apple from $259.00 to $256.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. KeyCorp upgraded Apple from an “underweight” rating to a “sector weight” rating in a research note on Monday, April 14th. Finally, Argus upgraded Apple to a “strong-buy” rating in a research note on Friday, January 31st. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $235.80.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider now owns 15,533 shares of the company’s stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 108,136 shares of Apple stock in a transaction that occurred on Wednesday, April 2nd. The stock was 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 directly owns 3,280,295 shares in the company, valued at $733,637,976.75. This trade represents a 3.19% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,507 shares of company stock valued at $42,694,080. 0.06% of the stock is owned by company insiders.

Apple 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.