Apple Inc. (NASDAQ:AAPL) is Patten & Patten Inc. TN’s Largest Position

Patten & Patten Inc. TN lowered its position in Apple Inc. (NASDAQ:AAPL) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 753,572 shares of the iPhone maker’s stock after selling 9,602 shares during the period. Apple comprises approximately 11.7% of Patten & Patten Inc. TN’s holdings, making the stock its largest position. Patten & Patten Inc. TN’s holdings in Apple were worth $175,582,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Bull Oak Capital LLC grew its position in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the last quarter. Hershey Financial Advisers LLC purchased a new stake in shares of Apple during the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc grew its holdings in shares of Apple by 88.9% during the 3rd 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. ARK Investment Management LLC acquired a new position in shares of Apple during the 3rd quarter valued at $110,000. Finally, Cordant Inc. boosted its position in shares of Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after buying an additional 173 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated 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 owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple Trading Up 0.8 %

Apple stock opened at $229.98 on Friday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a market capitalization of $3.48 trillion, a PE ratio of 37.83, a PEG ratio of 2.32 and a beta of 1.20. The business’s 50-day simple moving average is $240.95 and its 200-day simple moving average is $230.56.

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, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion for 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 quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.46 earnings per share. Equities research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is 16.45%.

Analyst Ratings Changes

AAPL has been the topic of several recent analyst reports. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research note on Friday, October 25th. Citigroup raised their price target on shares of Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Maxim Group raised their price objective on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. New Street Research restated a “neutral” rating and set a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. Finally, Piper Sandler restated a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $239.85.

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.