Apple Inc. (NASDAQ:AAPL) is Mechanics Financial Corp’s 4th Largest Position

Mechanics Financial Corp increased its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,551 shares of the iPhone maker’s stock after purchasing an additional 75 shares during the period. Apple makes up 6.0% of Mechanics Financial Corp’s holdings, making the stock its 4th biggest position. Mechanics Financial Corp’s holdings in Apple were worth $10,056,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. UMA Financial Services Inc. raised its holdings in shares of Apple by 0.3% during the second quarter. UMA Financial Services Inc. now owns 75,170 shares of the iPhone maker’s stock worth $12,141,000 after purchasing an additional 260 shares during the last quarter. Capital Wealth Alliance LLC raised its holdings in shares of Apple by 263.2% during the second quarter. Capital Wealth Alliance LLC now owns 87,905 shares of the iPhone maker’s stock worth $310,000 after purchasing an additional 63,702 shares during the last quarter. Ahrens Investment Partners LLC raised its holdings in shares of Apple by 9.1% during the second quarter. Ahrens Investment Partners LLC now owns 54,048 shares of the iPhone maker’s stock worth $7,389,000 after purchasing an additional 4,522 shares during the last quarter. Holistic Financial Partners raised its holdings in shares of Apple by 1.1% during the second quarter. Holistic Financial Partners now owns 10,472 shares of the iPhone maker’s stock worth $1,432,000 after purchasing an additional 110 shares during the last quarter. Finally, Financial Counselors Inc. grew its position in Apple by 3.5% during the second quarter. Financial Counselors Inc. now owns 1,537,413 shares of the iPhone maker’s stock valued at $210,195,000 after buying an additional 51,957 shares during the period. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Sanford C. Bernstein set a $170.00 price target on shares of Apple in a research report on Monday, September 12th. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research report on Saturday, November 5th. Fundamental Research raised their price target on shares of Apple to $168.50 and gave the company a “buy” rating in a research report on Tuesday, November 8th. JPMorgan Chase & Co. set a $200.00 price target on shares of Apple in a research report on Monday, November 14th. Finally, Itaú Unibanco initiated coverage on shares of Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average price target of $176.26.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 176,299 shares of Apple stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $142.16, for a total transaction of $25,062,665.84. Following the transaction, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at $19,374,986.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 360,651 shares of company stock valued at $53,703,645 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of AAPL stock opened at $151.29 on Friday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85. The firm’s 50-day moving average is $147.08 and its two-hundred day moving average is $149.95. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The company has a market capitalization of $2.41 trillion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 1.90 and a beta of 1.25.

Apple (NASDAQ:AAPLGet Rating) last issued its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.02. Apple had a net margin of 25.31% and a return on equity of 160.90%. The company had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. During the same period in the previous year, the firm earned $1.24 earnings per share. Apple’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts predict that Apple Inc. will post 6.26 earnings per share for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Friday, November 4th. Apple’s dividend payout ratio (DPR) is presently 15.06%.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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