Apple Inc. (NASDAQ:AAPL) Shares Sold by Mattern Wealth Management LLC

Mattern Wealth Management LLC lessened its position in Apple Inc. (NASDAQ:AAPL) by 10.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,834 shares of the iPhone maker’s stock after selling 10,974 shares during the period. Apple comprises 4.5% of Mattern Wealth Management LLC’s portfolio, making the stock its 5th largest holding. Mattern Wealth Management LLC’s holdings in Apple were worth $20,399,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Tallon Kerry Patrick acquired a new position in Apple during the fourth quarter worth approximately $1,877,000. First National Bank of Hutchinson increased its position in Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after purchasing an additional 6,982 shares during the last quarter. Capital & Planning LLC increased its position in Apple by 10.7% during the fourth quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker’s stock worth $6,836,000 after purchasing an additional 2,647 shares during the last quarter. Eagle Capital Management LLC increased its position in Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after purchasing an additional 272 shares during the last quarter. Finally, Brighton Jones LLC increased its position in Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after purchasing an additional 69,207 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,486 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the transaction, the insider owned 15,533 shares in the company, valued at $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

AAPL opened at $202.92 on Wednesday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The stock has a market cap of $3.01 trillion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 2.14 and a beta of 1.16. The business’s 50 day moving average is $205.58 and its 200-day moving average is $213.24. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. During the same period last year, the firm posted $1.40 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. On average, analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its board has approved a share buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, August 11th. Apple’s dividend payout ratio (DPR) is currently 15.78%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AAPL. Monness Crespi & Hardt upped their price target on shares of Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Wedbush reaffirmed an “outperform” rating and set a $270.00 price target on shares of Apple in a research report on Wednesday, July 30th. Citigroup upped their price target on shares of Apple from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. TD Cowen decreased their price objective on shares of Apple from $290.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Finally, DA Davidson reiterated a “buy” rating and set a $250.00 price objective on shares of Apple in a research note on Friday, August 1st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $237.25.

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.