Apple Inc. (NASDAQ:AAPL) is Perkins Coie Trust Co’s 3rd Largest Position

Perkins Coie Trust Co lowered its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 103,033 shares of the iPhone maker’s stock after selling 125 shares during the quarter. Apple comprises approximately 5.1% of Perkins Coie Trust Co’s portfolio, making the stock its 3rd biggest position. Perkins Coie Trust Co’s holdings in Apple were worth $14,087,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AAPL. Elk River Wealth Management LLC raised its position in shares of Apple by 49.0% in the 1st quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after purchasing an additional 54,989 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Apple by 8.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 74,619 shares of the iPhone maker’s stock worth $13,029,000 after purchasing an additional 5,703 shares during the last quarter. Piscataqua Savings Bank raised its position in shares of Apple by 1.5% in the 1st quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock worth $8,302,000 after purchasing an additional 684 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Apple in the 1st quarter worth about $171,000. Finally, Chico Wealth RIA bought a new stake in Apple in the 1st quarter worth about $7,794,000. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Insider Activity

In other news, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares in the company, valued at $19,362,241.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the transaction, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AAPL shares. KeyCorp lifted their price objective on Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, August 19th. Itau BBA Securities started coverage on Apple in a report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective for the company. Loop Capital reduced their price objective on Apple from $210.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. Evercore ISI boosted their price target on Apple from $180.00 to $185.00 in a research note on Friday, July 29th. Finally, set a $175.00 price target on Apple in a research note on Friday, July 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $181.52.

Apple Stock Down 1.1 %

Shares of AAPL opened at $150.70 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The stock’s 50 day moving average is $159.65 and its two-hundred day moving average is $156.02. The firm has a market cap of $2.42 trillion, a P/E ratio of 24.87, a PEG ratio of 1.95 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. During the same period last year, the company earned $1.30 earnings per share. Apple’s quarterly revenue was up 1.9% compared to the same quarter last year. Analysts predict that Apple Inc. will post 6.11 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were given a $0.23 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.61%. Apple’s dividend payout ratio (DPR) is presently 15.18%.

Apple Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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