First National Bank of Omaha lowered its stake in Apple Inc. (NASDAQ:AAPL) by 10.6% during the second quarter, Holdings Channel reports. The institutional investor owned 288,834 shares of the iPhone maker’s stock after selling 34,198 shares during the period. Apple makes up 2.6% of First National Bank of Omaha’s portfolio, making the stock its largest position. First National Bank of Omaha’s holdings in Apple were worth $41,263,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AAPL. Norges Bank purchased a new stake in Apple during the fourth quarter valued at about $5,625,709,000. Franklin Resources Inc. boosted its stake in Apple by 4.8% in the fourth quarter. Franklin Resources Inc. now owns 25,455,705 shares of the iPhone maker’s stock valued at $2,948,422,000 after buying an additional 1,156,639 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Apple by 2.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 17,637,648 shares of the iPhone maker’s stock valued at $2,533,825,000 after buying an additional 471,057 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Apple by 1.2% in the first quarter. Fisher Asset Management LLC now owns 11,638,395 shares of the iPhone maker’s stock valued at $1,671,972,000 after buying an additional 140,368 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Apple by 23.2% in the first quarter. Canada Pension Plan Investment Board now owns 9,289,482 shares of the iPhone maker’s stock valued at $1,334,527,000 after buying an additional 1,749,797 shares in the last quarter. 61.50% of the stock is currently owned by institutional investors.

Shares of Apple Inc. (NASDAQ AAPL) traded up 0.8068% during mid-day trading on Friday, hitting $159.1336. The stock had a trading volume of 16,678,847 shares. The firm has a market cap of $821.96 billion, a PE ratio of 18.0669 and a beta of 1.31. The stock has a 50 day moving average price of $151.60 and a 200 day moving average price of $145.37. Apple Inc. has a 52 week low of $102.53 and a 52 week high of $162.51.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The company had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. During the same quarter last year, the company posted $1.42 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post $9.02 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were paid a $0.63 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.52 annualized dividend and a dividend yield of 1.60%. Apple’s payout ratio is 28.64%.

Apple announced that its Board of Directors has authorized a share repurchase program on Tuesday, May 2nd that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

TRADEMARK VIOLATION WARNING: “First National Bank of Omaha Lowers Stake in Apple Inc. (AAPL)” was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece on another domain, it was stolen and reposted in violation of U.S. and international trademark and copyright law. The original version of this piece can be read at https://www.thecerbatgem.com/2017/08/18/first-national-bank-of-omaha-lowers-stake-in-apple-inc-aapl.html.

Several research analysts have recently weighed in on the stock. Drexel Hamilton reiterated a “buy” rating and set a $202.00 price objective on shares of Apple in a report on Thursday, July 6th. Instinet reiterated a “buy” rating and set a $165.00 price objective on shares of Apple in a report on Wednesday, July 5th. Royal Bank Of Canada reiterated an “outperform” rating and set a $168.00 price objective on shares of Apple in a report on Tuesday, June 6th. Credit Suisse Group reiterated an “outperform” rating and set a $170.00 price objective on shares of Apple in a report on Tuesday, July 25th. Finally, Macquarie increased their price objective on shares of Apple from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Eleven investment analysts have rated the stock with a hold rating, forty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Apple has a consensus rating of “Buy” and a consensus target price of $167.38.

In other news, Director Arthur D. Levinson sold 35,000 shares of Apple stock in a transaction on Monday, August 7th. The stock was sold at an average price of $157.58, for a total value of $5,515,300.00. Following the transaction, the director now owns 1,168,283 shares in the company, valued at approximately $184,098,035.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Johny Srouji sold 10,000 shares of Apple stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $153.20, for a total value of $1,532,000.00. Following the completion of the transaction, the senior vice president now owns 96,738 shares in the company, valued at approximately $14,820,261.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 294,171 shares of company stock worth $45,707,922. Corporate insiders own 0.08% of the company’s stock.

About Apple

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.

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 & Stock Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related stocks with our FREE daily email newsletter.