Apple Inc. (NASDAQ:AAPL) is Patrick M Sweeney & Associates Inc.’s Largest Position

Patrick M Sweeney & Associates Inc. raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 38,077 shares of the iPhone maker’s stock after acquiring an additional 269 shares during the period. Apple comprises about 6.5% of Patrick M Sweeney & Associates Inc.’s portfolio, making the stock its largest holding. Patrick M Sweeney & Associates Inc.’s holdings in Apple were worth $8,020,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Yeomans Consulting Group Inc. bought a new position in shares of Apple during the fourth quarter valued at about $1,713,000. Raleigh Capital Management Inc. raised its stake in shares of Apple by 11.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after acquiring an additional 1,643 shares during the last quarter. GLOBALT Investments LLC GA bought a new position in shares of Apple during the fourth quarter valued at about $38,406,000. Barden Capital Management Inc. raised its stake in shares of Apple by 132.8% during the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after acquiring an additional 18,615 shares during the last quarter. Finally, Sunpointe LLC bought a new position in shares of Apple during the fourth quarter valued at about $4,782,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, insider Chris Kondo sold 5,178 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is owned by insiders.

Apple Trading Up 0.0 %

NASDAQ:AAPL opened at $222.77 on Friday. The company’s 50 day moving average price is $223.22 and its 200-day moving average price is $198.23. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.23. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The stock has a market cap of $3.42 trillion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.60 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter in the prior year, the company posted $1.26 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

Analyst Ratings Changes

AAPL has been the subject of several recent analyst reports. Maxim Group reaffirmed a “hold” rating and set a $203.00 price objective on shares of Apple in a research note on Tuesday. Bank of America reaffirmed a “buy” rating and set a $256.00 price objective on shares of Apple in a research note on Thursday, September 5th. DA Davidson raised shares of Apple from a “neutral” rating to a “buy” rating and increased their price target for the stock from $200.00 to $230.00 in a research note on Tuesday, June 11th. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Loop Capital raised shares of Apple from a “hold” rating to a “buy” rating and increased their price target for the stock from $170.00 to $300.00 in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $238.62.

Apple 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.