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

Mattern Capital Management LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 1.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 85,964 shares of the iPhone maker’s stock after selling 1,133 shares during the quarter. Apple makes up about 2.5% of Mattern Capital Management LLC’s investment portfolio, making the stock its largest holding. Mattern Capital Management LLC’s holdings in Apple were worth $18,106,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AAPL. Mid American Wealth Advisory Group Inc. lifted its stake in Apple by 26.4% in the first quarter. Mid American Wealth Advisory Group Inc. now owns 14,193 shares of the iPhone maker’s stock valued at $2,434,000 after buying an additional 2,967 shares during the last quarter. CJM Wealth Advisers Ltd. raised its stake in shares of Apple by 0.5% during the first quarter. CJM Wealth Advisers Ltd. now owns 18,528 shares of the iPhone maker’s stock valued at $3,177,000 after purchasing an additional 100 shares in the last quarter. Rise Advisors LLC raised its stake in shares of Apple by 133.9% during the first quarter. Rise Advisors LLC now owns 4,523 shares of the iPhone maker’s stock valued at $776,000 after purchasing an additional 2,589 shares in the last quarter. Osher Van de Voorde Investment Management raised its stake in shares of Apple by 10.0% during the first quarter. Osher Van de Voorde Investment Management now owns 101,555 shares of the iPhone maker’s stock valued at $17,415,000 after purchasing an additional 9,230 shares in the last quarter. Finally, Alaska Permanent Fund Corp raised its stake in shares of Apple by 3.2% during the first quarter. Alaska Permanent Fund Corp now owns 26,107 shares of the iPhone maker’s stock valued at $4,477,000 after purchasing an additional 818 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AAPL shares. Piper Sandler restated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. The Goldman Sachs Group boosted their price target on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Oppenheimer reiterated a “buy” rating and issued a $250.00 price target on shares of Apple in a research report on Tuesday, October 1st. Cfra boosted their price target on shares of Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $261.00 price target on shares of Apple in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $239.27.

Apple Stock Up 1.2 %

Shares of Apple stock opened at $235.00 on Friday. The firm has a market cap of $3.60 trillion, a price-to-earnings ratio of 36.55, a P/E/G ratio of 2.40 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The stock has a 50-day simple moving average of $225.78 and a 200-day simple moving average of $208.11.

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 the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 EPS. On average, equities research analysts expect that Apple Inc. will post 6.65 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. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple’s dividend payout ratio (DPR) is currently 15.55%.

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.