Apple Inc. (NASDAQ:AAPL) is Patron Partners LLC’s 2nd Largest Position

Patron Partners LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,878 shares of the iPhone maker’s stock after selling 336 shares during the period. Apple comprises 6.7% of Patron Partners LLC’s portfolio, making the stock its 2nd biggest position. Patron Partners LLC’s holdings in Apple were worth $9,481,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Center For Asset Management LLC raised its position in shares of Apple by 53.3% in the 2nd quarter. Center For Asset Management LLC now owns 21,898 shares of the iPhone maker’s stock worth $4,247,000 after acquiring an additional 7,616 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co raised its holdings in Apple by 8.3% in the first quarter. Ilmarinen Mutual Pension Insurance Co now owns 785,000 shares of the iPhone maker’s stock worth $129,447,000 after purchasing an additional 60,000 shares in the last quarter. Arista Wealth Management LLC raised its holdings in Apple by 1.0% in the first quarter. Arista Wealth Management LLC now owns 26,680 shares of the iPhone maker’s stock worth $4,399,000 after purchasing an additional 261 shares in the last quarter. Conrad Siegel Investment Advisors Inc. boosted its holdings in shares of Apple by 22.2% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 7,897 shares of the iPhone maker’s stock valued at $1,532,000 after buying an additional 1,436 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of Apple by 2.3% in the 1st quarter. Thrivent Financial for Lutherans now owns 3,919,534 shares of the iPhone maker’s stock worth $646,332,000 after buying an additional 89,615 shares during the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 123,448 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $188.79, for a total transaction of $23,305,747.92. Following the completion of the sale, the senior vice president now owns 293,266 shares of the company’s stock, valued at approximately $55,365,688.14. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 123,448 shares of the business’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $188.79, for a total transaction of $23,305,747.92. Following the transaction, the senior vice president now owns 293,266 shares of the company’s stock, valued at $55,365,688.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Deirdre O’brien sold 65,536 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total value of $11,279,400.96. Following the completion of the sale, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at $23,483,548.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 567,839 shares of company stock worth $100,675,794. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AAPL shares. Rosenblatt Securities cut their price objective on shares of Apple from $198.00 to $189.00 and set a “neutral” rating on the stock in a research report on Friday, November 3rd. Canaccord Genuity Group lifted their price objective on shares of Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Jefferies Financial Group cut their price objective on shares of Apple from $220.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, October 31st. Morgan Stanley reaffirmed an “overweight” rating and issued a $210.00 price objective on shares of Apple in a research report on Friday, November 3rd. Finally, The Goldman Sachs Group dropped their target price on shares of Apple from $222.00 to $216.00 and set a “buy” rating on the stock in a research report on Wednesday, September 13th. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $198.25.

Apple Trading Up 0.9 %

Shares of Apple stock opened at $191.45 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.94 and a debt-to-equity ratio of 1.53. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $198.23. The firm has a market capitalization of $2.98 trillion, a PE ratio of 31.28, a P/E/G ratio of 2.60 and a beta of 1.30. The firm’s 50-day moving average price is $177.15 and its 200 day moving average price is $181.03.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.07. Apple had a return on equity of 160.78% and a net margin of 25.31%. The firm had revenue of $89.50 billion for the quarter, compared to analyst estimates of $89.34 billion. During the same period in the previous year, the company posted $1.29 earnings per share. The business’s revenue was down .7% on a year-over-year basis. On average, sell-side analysts predict that Apple Inc. will post 6.56 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Friday, November 10th. Apple’s dividend payout ratio (DPR) is 15.69%.

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.