Apple Inc. (NASDAQ:AAPL) is Sweeney & Michel LLC’s 3rd Largest Position

Sweeney & Michel LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 0.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,212 shares of the iPhone maker’s stock after selling 125 shares during the period. Apple makes up 6.7% of Sweeney & Michel LLC’s holdings, making the stock its 3rd biggest position. Sweeney & Michel LLC’s holdings in Apple were worth $16,970,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Hershey Financial Advisers LLC acquired a new position in shares of Apple during the 2nd quarter valued at about $42,000. Christopher J. Hasenberg Inc raised its stake in 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 purchasing an additional 144 shares during the period. Cordant Inc. boosted its holdings in Apple by 34.3% in the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after purchasing an additional 173 shares during the last quarter. Hoese & Co LLP grew its stake in shares of Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares during the period. Finally, Sage Financial Group Inc. acquired a new stake in shares of Apple during the 2nd quarter worth approximately $206,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of AAPL stock opened at $253.48 on Wednesday. The stock’s 50-day moving average is $233.64 and its two-hundred day moving average is $224.73. 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 1 year low of $164.07 and a 1 year high of $253.83. The firm has a market cap of $3.83 trillion, a price-to-earnings ratio of 41.69, a PEG ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company 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%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 earnings per share. Analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.39%. Apple’s payout ratio is 16.45%.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. The trade was a 10.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 408,170 shares of company stock worth $92,007,745. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AAPL. Loop Capital decreased their price objective on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 price objective on shares of Apple in a report on Tuesday, September 10th. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. Wells Fargo & Company boosted their target price on Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price of $236.78.

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.