Apple Inc. $AAPL Position Reduced by Matthew 25 Management Corp

Matthew 25 Management Corp lessened its stake in Apple Inc. (NASDAQ:AAPL) by 1.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,500 shares of the iPhone maker’s stock after selling 1,000 shares during the period. Apple comprises approximately 5.0% of Matthew 25 Management Corp’s investment portfolio, making the stock its 5th largest holding. Matthew 25 Management Corp’s holdings in Apple were worth $13,661,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Life Planning Partners Inc acquired a new position in shares of Apple during the 4th quarter worth approximately $47,000. Elite Financial Inc. acquired a new stake in shares of Apple in the 1st quarter worth $58,000. Conquis Financial LLC purchased a new position in shares of Apple during the 4th quarter worth $63,000. LSV Asset Management purchased a new position in shares of Apple during the 4th quarter worth $65,000. Finally, Pillar Financial Advisors LLC purchased a new position in Apple during the 4th quarter valued at about $82,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AAPL has been the subject of a number of research reports. DA Davidson restated a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Friday, August 1st. Bank of America lifted their price target on Apple from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Rosenblatt Securities lifted their price target on Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Apple in a report on Friday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $242.16.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $226.79 on Thursday. The firm has a market capitalization of $3.37 trillion, a PE ratio of 34.41, a P/E/G ratio of 2.45 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The business has a 50-day moving average of $220.75 and a two-hundred day moving average of $212.60. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same period in the prior year, the firm posted $1.40 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. As a group, research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

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

About Apple

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.