Apple Inc. (NASDAQ:AAPL) is McGinn Penninger Investment Management Inc.’s 2nd Largest Position

McGinn Penninger Investment Management Inc. trimmed its position in Apple Inc. (NASDAQ:AAPL) by 0.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,293 shares of the iPhone maker’s stock after selling 385 shares during the quarter. Apple accounts for approximately 9.1% of McGinn Penninger Investment Management Inc.’s holdings, making the stock its 2nd biggest holding. McGinn Penninger Investment Management Inc.’s holdings in Apple were worth $13,331,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Verus Financial Partners Inc. grew its position in Apple by 0.3% in the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after acquiring an additional 48 shares in the last quarter. Brown Financial Advisory boosted its holdings in Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after acquiring an additional 50 shares during the period. Core Wealth Management Inc. grew its position in Apple by 1.7% in the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after acquiring an additional 50 shares during the last quarter. Lowery Thomas LLC grew its position in Apple by 0.7% in the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after acquiring an additional 50 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. increased its stake in Apple by 1.1% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after purchasing an additional 51 shares during the period. 60.41% of the stock is currently owned by institutional investors.

Apple Stock Down 1.4 %

AAPL stock opened at $225.00 on Friday. The stock has a market capitalization of $3.40 trillion, a PE ratio of 37.01, a price-to-earnings-growth ratio of 2.21 and a beta of 1.24. The company has a fifty day moving average of $227.04 and a 200-day moving average of $215.96. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a one year low of $164.07 and a one year high of $237.49.

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, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.46 earnings per share. As a group, analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s payout ratio is 16.45%.

Insider Transactions at Apple

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This represents a 24.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. The trade was a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 404,040 shares of company stock valued at $91,062,512 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several research analyst reports. Loop Capital dropped their price objective on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Evercore ISI reissued a “buy” rating and issued a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a research note on Friday, October 25th. Jefferies Financial Group downgraded Apple from a “buy” rating to a “hold” rating and raised their price target for the stock from $205.00 to $212.92 in a report on Monday, October 7th. Finally, Tigress Financial lifted their price objective on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average price target of $235.51.

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.