Mendota Financial Group LLC boosted its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 227.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,783 shares of the iPhone maker’s stock after purchasing an additional 1,239 shares during the period. Mendota Financial Group LLC’s holdings in Apple were worth $346,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Apple by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after purchasing an additional 8,734,393 shares during the last quarter. Berkshire Hathaway Inc boosted its position in Apple by 2.3% during the first quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock worth $150,975,907,000 after purchasing an additional 20,424,207 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of Apple by 116,483.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock valued at $74,002,245,000 after buying an additional 569,066,184 shares in the last quarter. Geode Capital Management LLC lifted its stake in Apple by 0.9% in the 1st quarter. Geode Capital Management LLC now owns 285,171,112 shares of the iPhone maker’s stock valued at $46,918,015,000 after buying an additional 2,421,295 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Apple by 3.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 234,017,381 shares of the iPhone maker’s stock worth $38,589,468,000 after purchasing an additional 7,736,013 shares in the last quarter. 58.51% of the stock is owned by institutional investors.
Apple Trading Up 0.6 %
NASDAQ AAPL opened at $182.89 on Thursday. The company’s fifty day simple moving average is $176.64 and its 200-day simple moving average is $179.78. The company has a current ratio of 0.99, a quick ratio of 0.94 and a debt-to-equity ratio of 1.53. The stock has a market cap of $2.84 trillion, a P/E ratio of 30.74, a PEG ratio of 2.48 and a beta of 1.30. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23.
Apple Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 13th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, November 10th. This represents a $0.96 annualized dividend and a dividend yield of 0.52%. Apple’s dividend payout ratio is currently 16.13%.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on AAPL. Sanford C. Bernstein reiterated a “market perform” rating and issued a $195.00 price objective on shares of Apple in a research report on Monday, October 9th. Citigroup reissued a “buy” rating and set a $240.00 price target on shares of Apple in a report on Friday, August 4th. Canaccord Genuity Group increased their price target on shares of Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Credit Suisse Group reissued an “outperform” rating and set a $220.00 price objective on shares of Apple in a report on Friday, September 15th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Apple from $180.00 to $210.00 and gave the company a “buy” rating in a report on Monday, July 24th. Ten research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $197.82.
Get Our Latest Stock Report on AAPL
Insider Activity
In other news, CEO Timothy D. Cook sold 240,569 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total value of $41,498,152.50. Following the completion of the sale, the chief executive officer now directly owns 3,280,053 shares of the company’s stock, valued at approximately $565,809,142.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Timothy D. Cook sold 240,569 shares of Apple stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the transaction, the chief executive officer now directly owns 3,280,053 shares of the company’s stock, valued at $565,809,142.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 69,785 shares of the company’s stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $177.00, for a total transaction of $12,351,945.00. Following the completion of the sale, the chief operating officer now directly owns 489,817 shares of the company’s stock, valued at $86,697,609. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 439,585 shares of company stock valued at $76,485,550. Insiders own 0.06% of the company’s stock.
Apple Company Profile
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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