Apple Inc. (NASDAQ:AAPL) Shares Sold by Mechanics Financial Corp

Mechanics Financial Corp trimmed its position in Apple Inc. (NASDAQ:AAPL) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,399 shares of the iPhone maker’s stock after selling 1,284 shares during the quarter. Apple comprises 7.0% of Mechanics Financial Corp’s investment portfolio, making the stock its 3rd biggest position. Mechanics Financial Corp’s holdings in Apple were worth $13,564,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Knuff & Co LLC increased its position in shares of Apple by 3.7% during the 2nd quarter. Knuff & Co LLC now owns 167,660 shares of the iPhone maker’s stock worth $35,313,000 after purchasing an additional 6,010 shares during the last quarter. Consilium Wealth Advisory LLC boosted its stake in Apple by 5.9% during the second quarter. Consilium Wealth Advisory LLC now owns 71,970 shares of the iPhone maker’s stock worth $15,158,000 after buying an additional 4,009 shares during the period. United Asset Strategies Inc. increased its position in shares of Apple by 6.1% during the second quarter. United Asset Strategies Inc. now owns 160,642 shares of the iPhone maker’s stock valued at $33,834,000 after acquiring an additional 9,272 shares during the last quarter. PrairieView Partners LLC raised its stake in shares of Apple by 3.8% in the 2nd quarter. PrairieView Partners LLC now owns 25,871 shares of the iPhone maker’s stock valued at $5,448,000 after acquiring an additional 939 shares during the period. Finally, Eldridge Investment Advisors Inc. lifted its holdings in shares of Apple by 3.6% in the 2nd quarter. Eldridge Investment Advisors Inc. now owns 25,195 shares of the iPhone maker’s stock worth $5,307,000 after acquiring an additional 871 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on AAPL shares. Melius Research reiterated a “buy” rating and issued a $265.00 target price on shares of Apple in a report on Tuesday, August 27th. Robert W. Baird boosted their price objective on Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Moffett Nathanson initiated coverage on Apple in a report on Monday, August 19th. They set a “neutral” rating and a $211.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and set a $261.00 price target on shares of Apple in a research note on Tuesday, September 10th. Finally, Evercore ISI reissued a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.27.

Insider Activity

In other news, SVP Katherine L. Adams sold 100,000 shares of the 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 directly owns 191,543 shares in the company, valued at $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of Apple 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 completion of 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 517,924 shares of company stock worth $114,786,399 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $233.85 on Wednesday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The company has a 50-day moving average price of $224.59 and a 200 day moving average price of $207.04. The company has a market cap of $3.59 trillion, a P/E ratio of 36.37, a PEG ratio of 2.40 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.26 EPS. Research analysts predict that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio (DPR) is 15.55%.

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.