Ledyard National Bank Trims Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Ledyard National Bank reduced its position in Apple Inc. (NASDAQ:AAPL) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 143,660 shares of the iPhone maker’s stock after selling 2,469 shares during the quarter. Apple makes up about 5.1% of Ledyard National Bank’s portfolio, making the stock its largest position. Ledyard National Bank’s holdings in Apple were worth $42,186,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Orgel Wealth Management LLC raised its position in Apple by 2.6% in the third quarter. Orgel Wealth Management LLC now owns 2,588 shares of the iPhone maker’s stock worth $580,000 after purchasing an additional 66 shares in the last quarter. Confluence Investment Management LLC raised its position in Apple by 5.8% in the third quarter. Confluence Investment Management LLC now owns 1,922 shares of the iPhone maker’s stock worth $431,000 after purchasing an additional 105 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Apple by 8.2% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 352,529 shares of the iPhone maker’s stock worth $78,955,000 after purchasing an additional 26,724 shares in the last quarter. Harwood Advisory Group LLC raised its position in Apple by 0.6% in the third quarter. Harwood Advisory Group LLC now owns 21,857 shares of the iPhone maker’s stock worth $4,895,000 after purchasing an additional 123 shares in the last quarter. Finally, Massey Quick Simon & CO. LLC raised its position in Apple by 27.8% in the third quarter. Massey Quick Simon & CO. LLC now owns 9,987 shares of the iPhone maker’s stock worth $2,237,000 after purchasing an additional 2,173 shares in the last quarter. 60.28% of the stock is currently owned by institutional investors.

In other news, Director Arthur D. Levinson sold 1,429 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $304.11, for a total transaction of $434,573.19. Following the sale, the director now directly owns 1,134,712 shares of the company’s stock, valued at $345,077,266.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.05% of the stock is owned by corporate insiders.

AAPL has been the subject of several recent analyst reports. Piper Sandler raised their price objective on shares of Apple from $305.00 to $343.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Needham & Company LLC lowered shares of Apple from a “strong-buy” rating to a “buy” rating and raised their price objective for the stock from $280.00 to $350.00 in a report on Monday, January 6th. Morgan Stanley raised their price objective on shares of Apple from $296.00 to $368.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Credit Suisse Group raised their price objective on shares of Apple to $275.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. They noted that the move was a valuation call. Finally, Wedbush reaffirmed a “buy” rating and set a $400.00 price objective on shares of Apple in a report on Monday, February 10th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $314.55.

AAPL opened at $324.95 on Friday. Apple Inc. has a one year low of $169.38 and a one year high of $327.85. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.60 and a quick ratio of 1.56. The company’s 50 day simple moving average is $310.86 and its 200-day simple moving average is $254.90. The stock has a market capitalization of $1,421.46 billion, a P/E ratio of 25.66, a price-to-earnings-growth ratio of 2.25 and a beta of 1.29.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, January 28th. The iPhone maker reported $4.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.54 by $0.45. Apple had a net margin of 21.49% and a return on equity of 60.19%. The business had revenue of $91.80 billion for the quarter, compared to analysts’ expectations of $88.41 billion. During the same period in the prior year, the firm earned $4.18 earnings per share. Apple’s revenue was up 8.9% compared to the same quarter last year. As a group, analysts anticipate that Apple Inc. will post 13.78 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $3.08 annualized dividend and a dividend yield of 0.95%. Apple’s dividend payout ratio (DPR) is currently 25.90%.

Apple Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

Read More: How is the LIBOR rate calculated?

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.