Piscataqua Savings Bank Cuts Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Piscataqua Savings Bank reduced its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 6.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,292 shares of the iPhone maker’s stock after selling 3,254 shares during the period. Apple accounts for approximately 5.3% of Piscataqua Savings Bank’s portfolio, making the stock its 3rd biggest holding. Piscataqua Savings Bank’s holdings in Apple were worth $6,056,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Solitude Financial Services raised its holdings in Apple by 10.0% during the second quarter. Solitude Financial Services now owns 57,077 shares of the iPhone maker’s stock valued at $7,804,000 after buying an additional 5,210 shares in the last quarter. Planning Center Inc. raised its holdings in Apple by 11.6% during the second quarter. Planning Center Inc. now owns 31,024 shares of the iPhone maker’s stock valued at $4,434,000 after buying an additional 3,232 shares in the last quarter. BMS Financial Advisors LLC raised its holdings in Apple by 3.9% during the second quarter. BMS Financial Advisors LLC now owns 5,749 shares of the iPhone maker’s stock valued at $786,000 after buying an additional 214 shares in the last quarter. Roberts Wealth Advisors LLC grew its position in shares of Apple by 1.7% in the second quarter. Roberts Wealth Advisors LLC now owns 83,788 shares of the iPhone maker’s stock valued at $12,320,000 after purchasing an additional 1,380 shares during the last quarter. Finally, Kennicott Capital Management LLC grew its position in shares of Apple by 14.7% in the second quarter. Kennicott Capital Management LLC now owns 12,394 shares of the iPhone maker’s stock valued at $1,695,000 after purchasing an additional 1,584 shares during the last quarter. 57.72% of the stock is currently owned by institutional investors.

Apple Stock Performance

NASDAQ:AAPL opened at $152.74 on Friday. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The firm has a 50 day moving average of $160.31 and a 200-day moving average of $155.83. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $2.45 trillion, a P/E ratio of 25.20, a price-to-earnings-growth ratio of 2.03 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. During the same quarter in the previous year, the company posted $1.30 EPS. Apple’s revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Apple Inc. will post 6.11 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 15.18%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

AAPL has been the topic of several research analyst reports. Credit Suisse Group set a $201.00 price target on Apple in a research report on Thursday, September 8th. Morgan Stanley lowered their price target on Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Wells Fargo & Company lowered their price target on Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Citigroup raised their price target on Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Finally, Bank of America decreased their target price on Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $181.68.

About Apple

(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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