Mount Vernon Associates Inc. MD Has $13.19 Million Stake in Apple Inc. (NASDAQ:AAPL)

Mount Vernon Associates Inc. MD cut its holdings in Apple Inc. (NASDAQ:AAPL) by 2.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,627 shares of the iPhone maker’s stock after selling 1,660 shares during the quarter. Apple accounts for approximately 11.7% of Mount Vernon Associates Inc. MD’s investment portfolio, making the stock its largest position. Mount Vernon Associates Inc. MD’s holdings in Apple were worth $13,191,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AAPL. Christopher J. Hasenberg Inc purchased a new position in shares of Apple during the first quarter valued at approximately $35,000. Fidelis Capital Partners LLC grew its position in shares of Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after buying an additional 31,278 shares in the last quarter. A.P. Gilfoyle & Co. L.P. bought a new stake in shares of Apple in the 4th quarter valued at about $39,000. University of Texas Texas AM Investment Managment Co. boosted its position in Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after acquiring an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. bought a new position in Apple in the fourth quarter worth about $85,000. Institutional investors own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of several recent analyst reports. UBS Group raised their price target on Apple from $190.00 to $236.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Citigroup reissued a “buy” rating and set a $255.00 price target on shares of Apple in a report on Tuesday, August 27th. The Goldman Sachs Group increased their price target on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Erste Group Bank raised Apple from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Finally, Monness Crespi & Hardt restated a “buy” rating and issued a $245.00 price target on shares of Apple in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $239.17.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was 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 of the company’s stock, valued at approximately $5,223,062.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated 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 in the company, valued at approximately $39,542,136.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,884 shares of company stock valued at $23,723,887. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Up 0.2 %

NASDAQ:AAPL opened at $216.79 on Wednesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The company has a market capitalization of $3.32 trillion, a price-to-earnings ratio of 33.72, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. Apple Inc. has a one year low of $164.07 and a one year high of $237.23. The stock has a 50-day simple moving average of $222.67 and a 200 day simple moving average of $199.26.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm earned $1.26 EPS. Sell-side analysts predict that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.46%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

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.