Burns Matteson Capital Management LLC Purchases 528 Shares of Apple Inc. (NASDAQ:AAPL)

Burns Matteson Capital Management LLC boosted its position in Apple Inc. (NASDAQ:AAPL) by 6.2% during the third quarter, HoldingsChannel reports. The fund owned 8,988 shares of the iPhone maker’s stock after buying an additional 528 shares during the quarter. Apple comprises 1.0% of Burns Matteson Capital Management LLC’s holdings, making the stock its 23rd biggest position. Burns Matteson Capital Management LLC’s holdings in Apple were worth $2,094,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AAPL. Hershey Financial Advisers LLC bought a new position in Apple in the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc lifted its position in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares in the last quarter. Hoese & Co LLP boosted its holdings in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares during the period. Sage Financial Group Inc. purchased a new position in shares of Apple in the second quarter valued at $206,000. Finally, Benchmark Wealth Management LLC bought a new stake in shares of Apple during the 2nd quarter valued at $208,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AAPL has been the subject of several analyst reports. Jefferies Financial Group downgraded Apple from a “buy” rating to a “hold” rating and raised their target price for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Wedbush reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Apple in a research note on Friday. Rosenblatt Securities upped their target price on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price target on shares of Apple in a report on Monday, September 9th. Finally, KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $235.68.

Apple Stock Up 1.0 %

Shares of NASDAQ AAPL opened at $237.33 on Monday. The firm’s fifty day moving average is $229.02 and its 200 day moving average is $220.02. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.81. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a market cap of $3.59 trillion, a price-to-earnings ratio of 39.03, a PEG ratio of 2.33 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.46 earnings per share. On average, equities research analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.42%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

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.