Apple Inc. (NASDAQ:AAPL) Stock Position Lowered by McGinn Penninger Investment Management Inc.

McGinn Penninger Investment Management Inc. trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 0.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,763 shares of the iPhone maker’s stock after selling 530 shares during the period. Apple makes up 9.7% of McGinn Penninger Investment Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. McGinn Penninger Investment Management Inc.’s holdings in Apple were worth $14,624,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bull Oak Capital LLC raised 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 worth $36,000 after buying an additional 111 shares in the last quarter. Hershey Financial Advisers LLC bought a new position in Apple in the 2nd quarter worth about $42,000. Christopher J. Hasenberg Inc raised its holdings in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares in the last quarter. ARK Investment Management LLC purchased a new position in shares of Apple during the third quarter worth about $110,000. Finally, Cordant Inc. increased 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 purchasing an additional 173 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, 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 disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Apple Trading Up 0.5 %

NASDAQ:AAPL opened at $223.83 on Thursday. The firm has a market capitalization of $3.37 trillion, a P/E ratio of 36.81, a PEG ratio of 2.25 and a beta of 1.20. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The company’s 50-day simple moving average is $241.09 and its 200 day simple moving average is $230.82.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s quarterly 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 EPS. As a group, analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

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 $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is presently 16.45%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AAPL. Evercore ISI reissued a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. Monness Crespi & Hardt upped their target price on shares of Apple to $245.00 and gave the stock a “buy” rating in a research report on Wednesday. Oppenheimer reaffirmed a “buy” rating and set a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. JPMorgan Chase & Co. decreased their price objective on Apple from $265.00 to $260.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Citigroup upped their target price on Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $237.99.

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.