Indiana Trust & Investment Management CO reduced its stake in Apple Inc. (NASDAQ:AAPL) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,994 shares of the iPhone maker’s stock after selling 894 shares during the period. Apple makes up 2.5% of Indiana Trust & Investment Management CO’s portfolio, making the stock its 7th largest holding. Indiana Trust & Investment Management CO’s holdings in Apple were worth $5,182,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Marcus Capital LLC boosted its stake in shares of Apple by 6.8% during the 1st quarter. Marcus Capital LLC now owns 4,342 shares of the iPhone maker’s stock worth $729,000 after purchasing an additional 275 shares during the period. Canandaigua National Bank & Trust Co. boosted its stake in shares of Apple by 0.5% during the 1st quarter. Canandaigua National Bank & Trust Co. now owns 51,711 shares of the iPhone maker’s stock worth $8,676,000 after purchasing an additional 280 shares during the period. TLP Group LLC boosted its stake in shares of Apple by 25.3% during the 1st quarter. TLP Group LLC now owns 1,385 shares of the iPhone maker’s stock worth $232,000 after purchasing an additional 280 shares during the period. Winthrop Partners WNY LLC boosted its stake in shares of Apple by 3.6% during the 1st quarter. Winthrop Partners WNY LLC now owns 8,222 shares of the iPhone maker’s stock worth $1,398,000 after purchasing an additional 282 shares during the period. Finally, Chemical Bank boosted its stake in shares of Apple by 0.3% during the 4th quarter. Chemical Bank now owns 92,548 shares of the iPhone maker’s stock worth $15,662,000 after purchasing an additional 299 shares during the period. Institutional investors own 58.58% of the company’s stock.

A number of equities analysts recently commented on the stock. Atlantic Securities reaffirmed a “neutral” rating and set a $205.00 price target on shares of Apple in a research note on Wednesday, August 1st. BMO Capital Markets lifted their price target on shares of Apple from $184.00 to $199.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 1st. They noted that the move was a valuation call. UBS Group set a $250.00 price target on shares of Apple and gave the stock a “buy” rating in a research note on Monday, October 8th. Macquarie reissued a “buy” rating and issued a $214.00 price objective on shares of Apple in a research report on Wednesday, August 1st. Finally, Sanford C. Bernstein reissued a “neutral” rating and issued a $200.00 price objective on shares of Apple in a research report on Wednesday, August 1st. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and thirty have assigned a buy rating to the company. Apple has a consensus rating of “Buy” and a consensus target price of $221.63.

In related news, SVP Angela J. Ahrendts sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 3rd. The shares were sold at an average price of $232.66, for a total transaction of $5,816,500.00. Following the completion of the transaction, the senior vice president now owns 105,538 shares in the company, valued at approximately $24,554,471.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Arthur D. Levinson sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $206.58, for a total transaction of $4,131,600.00. Following the transaction, the director now owns 1,153,283 shares of the company’s stock, valued at approximately $238,245,202.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 564,185 shares of company stock valued at $124,444,213. 0.06% of the stock is currently owned by company insiders.

Shares of NASDAQ AAPL traded up $7.66 during trading hours on Friday, hitting $222.11. 39,486,990 shares of the stock were exchanged, compared to its average volume of 31,432,369. The company has a quick ratio of 1.24, a current ratio of 1.31 and a debt-to-equity ratio of 0.84. The firm has a market cap of $1,109.54 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 1.99 and a beta of 1.36. Apple Inc. has a 12 month low of $150.24 and a 12 month high of $233.47.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, July 31st. The iPhone maker reported $2.34 EPS for the quarter, topping the consensus estimate of $2.18 by $0.16. The firm had revenue of $53.27 billion during the quarter, compared to analyst estimates of $52.43 billion. Apple had a net margin of 21.98% and a return on equity of 43.50%. Apple’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.67 EPS. On average, equities research analysts anticipate that Apple Inc. will post 11.76 earnings per share for the current fiscal year.

Apple Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

Recommended Story: Diversification in Your Portfolio

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.