First Citizens Bank & Trust Co. Has $41.72 Million Position in Apple Inc. (NASDAQ:AAPL)


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First Citizens Bank & Trust Co. lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 314,434 shares of the iPhone maker’s stock after selling 4,441 shares during the period. Apple makes up 2.1% of First Citizens Bank & Trust Co.’s investment portfolio, making the stock its 7th largest position. First Citizens Bank & Trust Co.’s holdings in Apple were worth $41,722,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Nicola Wealth Management LTD. grew its stake in shares of Apple by 285.0% in the 3rd quarter. Nicola Wealth Management LTD. now owns 77,000 shares of the iPhone maker’s stock worth $8,917,000 after buying an additional 57,000 shares during the last quarter. Zeke Capital Advisors LLC increased its holdings in shares of Apple by 395.3% during the third quarter. Zeke Capital Advisors LLC now owns 21,638 shares of the iPhone maker’s stock valued at $2,506,000 after acquiring an additional 17,269 shares in the last quarter. Ramsay Stattman Vela & Price Inc. raised its position in shares of Apple by 296.6% in the 3rd quarter. Ramsay Stattman Vela & Price Inc. now owns 195,026 shares of the iPhone maker’s stock worth $22,586,000 after purchasing an additional 145,847 shares during the last quarter. Swiss National Bank boosted its stake in Apple by 290.0% in the 3rd quarter. Swiss National Bank now owns 67,699,096 shares of the iPhone maker’s stock worth $7,840,232,000 after purchasing an additional 50,340,997 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. grew its position in Apple by 272.0% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 565,383 shares of the iPhone maker’s stock valued at $65,478,000 after purchasing an additional 413,385 shares during the last quarter. 57.77% of the stock is currently owned by hedge funds and other institutional investors.

AAPL stock opened at $130.89 on Thursday. The firm has a market cap of $2.20 trillion, a PE ratio of 40.15, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. The firm has a fifty day moving average price of $126.77 and a 200 day moving average price of $115.12. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.33 and a current ratio of 1.36. Apple Inc. has a fifty-two week low of $53.15 and a fifty-two week high of $138.79.

Apple (NASDAQ:AAPL) last posted its earnings results on Tuesday, November 3rd. The iPhone maker reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The firm had revenue of $64.70 billion for the quarter, compared to the consensus estimate of $63.33 billion. Apple had a net margin of 20.91% and a return on equity of 75.15%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.03 EPS. On average, equities analysts predict that Apple Inc. will post 4.03 EPS for the current year.

AAPL has been the topic of several analyst reports. Piper Sandler upgraded shares of Apple to an “overweight” rating and upped their target price for the stock from $130.00 to $135.00 in a research note on Thursday, October 22nd. Fundamental Research upped their price objective on Apple from $112.92 to $113.91 and gave the company a “hold” rating in a research report on Friday, October 30th. ValuEngine lowered Apple from a “buy” rating to a “hold” rating in a report on Thursday, October 1st. The Goldman Sachs Group reaffirmed a “sell” rating and set a $75.00 price target on shares of Apple in a report on Thursday, November 19th. Finally, Sanford C. Bernstein reiterated a “neutral” rating and issued a $100.00 price objective on shares of Apple in a report on Wednesday, September 16th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-seven have given a buy rating to the company. Apple has a consensus rating of “Buy” and a consensus price target of $118.61.

In other news, SVP Katherine L. Adams sold 17,000 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $110.42, for a total value of $1,877,140.00. Following the completion of the sale, the senior vice president now owns 320,784 shares in the company, valued at approximately $35,420,969.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 14,840 shares of Apple stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $121.34, for a total transaction of $1,800,685.60. The disclosure for this sale can be found here. Insiders have sold 63,040 shares of company stock worth $7,415,586 over the last three months. 0.06% of the stock is currently owned by insiders.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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