Park National Corp OH Has $125.76 Million Position in Apple Inc. (NASDAQ:AAPL)
Park National Corp OH cut its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 4.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 502,193 shares of the iPhone maker’s stock after selling 22,382 shares during the quarter. Apple makes up about 4.6% of Park National Corp OH’s holdings, making the stock its 2nd largest holding. Park National Corp OH’s holdings in Apple were worth $125,759,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of the business. Innova Wealth Partners grew its position in shares of Apple by 303.8% in the 4th quarter. Innova Wealth Partners now owns 10,106 shares of the iPhone maker’s stock valued at $2,531,000 after purchasing an additional 7,603 shares during the period. McAlister Sweet & Associates Inc. grew its position in shares of Apple by 1.3% in the 4th quarter. McAlister Sweet & Associates Inc. now owns 30,870 shares of the iPhone maker’s stock valued at $7,731,000 after purchasing an additional 393 shares during the period. Legend Financial Advisors Inc. lifted its stake in Apple by 0.9% in the 4th quarter. Legend Financial Advisors Inc. now owns 7,982 shares of the iPhone maker’s stock valued at $1,999,000 after acquiring an additional 71 shares in the last quarter. Range Financial Group LLC lifted its stake in Apple by 66.3% in the 4th quarter. Range Financial Group LLC now owns 7,912 shares of the iPhone maker’s stock valued at $1,981,000 after acquiring an additional 3,153 shares in the last quarter. Finally, One Wealth Capital Management LLC bought a new stake in Apple in the 4th quarter valued at approximately $2,452,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Apple Stock Performance
Shares of NASDAQ AAPL opened at $244.47 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. The stock’s fifty day moving average price is $240.66 and its two-hundred day moving average price is $231.94. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The firm has a market cap of $3.67 trillion, a price-to-earnings ratio of 38.80, a P/E/G ratio of 2.32 and a beta of 1.20.
Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current year.
Apple Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Monday, February 10th. Apple’s dividend payout ratio (DPR) is currently 15.87%.
Insider Buying and Selling
In related news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is owned by corporate insiders.
Analyst Ratings Changes
AAPL has been the topic of several research reports. Oppenheimer cut Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company boosted their target price on Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. KeyCorp restated an “underweight” rating and issued a $200.00 target price on shares of Apple in a research note on Friday, January 31st. Rosenblatt Securities restated a “buy” rating and issued a $262.00 target price on shares of Apple in a research note on Monday, January 27th. Finally, Morgan Stanley boosted their target price on Apple from $273.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $242.52.
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About Apple
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
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