Penney Financial LLC Has $1.83 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Penney Financial LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,852 shares of the iPhone maker’s stock after purchasing an additional 124 shares during the quarter. Apple accounts for approximately 1.2% of Penney Financial LLC’s holdings, making the stock its 12th largest holding. Penney Financial LLC’s holdings in Apple were worth $1,829,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. High Net Worth Advisory Group LLC boosted its position in Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after acquiring an additional 1,066 shares during the last quarter. Amara Financial LLC. acquired a new stake in shares of Apple in the third quarter valued at approximately $288,000. Granite Investment Partners LLC lifted its position in shares of Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after purchasing an additional 7,606 shares in the last quarter. Truist Financial Corp boosted its holdings in Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after purchasing an additional 126,210 shares during the last quarter. Finally, Sterling Investment Counsel LLC grew its position in Apple by 3.8% in the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after purchasing an additional 2,565 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Performance

Shares of AAPL stock opened at $244.60 on Monday. The firm’s 50 day moving average is $240.70 and its 200 day moving average is $231.68. The stock has a market capitalization of $3.67 trillion, a P/E ratio of 38.83, a PEG ratio of 2.32 and a beta of 1.20. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.41%. Apple’s dividend payout ratio is currently 15.87%.

Wall Street Analyst Weigh In

AAPL has been the topic of several analyst reports. Citigroup boosted their price target on shares of Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. KeyCorp reiterated an “underweight” rating and set a $200.00 target price on shares of Apple in a report on Friday, January 31st. Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Apple in a research note on Friday, January 31st. Morgan Stanley upped their price objective on Apple from $273.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Bank of America increased their price objective on Apple from $253.00 to $265.00 and gave the company a “buy” rating in a report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $242.52.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

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.