Bremer Trust National Association lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 16.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,417 shares of the iPhone maker’s stock after selling 12,525 shares during the period. Apple accounts for 1.9% of Bremer Trust National Association’s portfolio, making the stock its 4th largest position. Bremer Trust National Association’s holdings in Apple were worth $7,170,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of the stock. Cordasco Financial Network increased its stake in shares of Apple by 0.4% in the second quarter. Cordasco Financial Network now owns 3,353 shares of the iPhone maker’s stock worth $321,000 after buying an additional 12 shares during the period. Cidel Asset Management Inc. increased its stake in shares of Apple by 0.3% in the second quarter. Cidel Asset Management Inc. now owns 4,186 shares of the iPhone maker’s stock worth $400,000 after buying an additional 13 shares during the period. Boston Standard Wealth Management LLC increased its stake in shares of Apple by 0.6% in the second quarter. Boston Standard Wealth Management LLC now owns 2,280 shares of the iPhone maker’s stock worth $218,000 after buying an additional 14 shares during the period. Lbmc Investment Advisors LLC increased its stake in shares of Apple by 0.3% in the second quarter. Lbmc Investment Advisors LLC now owns 5,110 shares of the iPhone maker’s stock worth $489,000 after buying an additional 15 shares during the period. Finally, Summit Financial Strategies Inc. increased its stake in shares of Apple by 0.3% in the second quarter. Summit Financial Strategies Inc. now owns 6,533 shares of the iPhone maker’s stock worth $625,000 after buying an additional 19 shares during the period. Hedge funds and other institutional investors own 57.11% of the company’s stock.

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Shares of Apple Inc. (NASDAQ:AAPL) traded down 0.6536% during trading on Wednesday, hitting $110.7315. The stock had a trading volume of 22,077,836 shares. The stock’s 50-day moving average price is $112.99 and its 200 day moving average price is $105.64. The firm has a market capitalization of $590.45 billion, a P/E ratio of 13.3251 and a beta of 1.34. Apple Inc. has a 1-year low of $89.47 and a 1-year high of $119.86.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, October 25th. The iPhone maker reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.01. Apple had a return on equity of 35.59% and a net margin of 21.19%. The firm had revenue of $46.85 billion for the quarter, compared to analysts’ expectations of $46.88 billion. During the same period in the previous year, the firm posted $1.96 EPS. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. On average, analysts anticipate that Apple Inc. will post $9.05 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were given a $0.57 dividend. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $2.28 annualized dividend and a yield of 2.05%. Apple’s dividend payout ratio (DPR) is presently 27.57%.

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AAPL has been the subject of a number of recent research reports. Drexel Hamilton reiterated a “buy” rating and set a $185.00 price target on shares of Apple in a report on Thursday, August 11th. Longbow Research reiterated a “buy” rating and set a $130.00 price target on shares of Apple in a report on Tuesday, August 23rd. Canaccord Genuity reiterated a “buy” rating and set a $109.00 price target on shares of Apple in a report on Tuesday, August 23rd. Global Equities Research reiterated a “buy” rating on shares of Apple in a report on Thursday, August 25th. Finally, Nomura reiterated a “buy” rating on shares of Apple in a report on Thursday, August 25th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, forty-two have issued a buy rating and two have issued a strong buy rating to the stock. Apple currently has a consensus rating of “Buy” and a consensus price target of $128.29.

In related news, COO Jeffrey E. Williams sold 43,769 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $112.59, for a total value of $4,927,951.71. Following the transaction, the chief operating officer now directly owns 90,657 shares of the company’s stock, valued at approximately $10,207,071.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel J. Riccio sold 22,381 shares of the company’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $113.06, for a total value of $2,530,395.86. Following the completion of the transaction, the insider now directly owns 47,043 shares in the company, valued at $5,318,681.58. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

Apple Company Profile

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

5 Day Chart for NASDAQ:AAPL

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