Mattern Wealth Management LLC Cuts Stock Position in Apple Inc. (NASDAQ:AAPL)

Mattern Wealth Management LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 102,808 shares of the iPhone maker’s stock after selling 7,086 shares during the period. Apple comprises about 5.7% of Mattern Wealth Management LLC’s holdings, making the stock its 3rd largest position. Mattern Wealth Management LLC’s holdings in Apple were worth $25,745,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. State Street Corp increased its holdings in Apple by 10.6% during the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after buying an additional 55,935,105 shares during the last quarter. FMR LLC increased its holdings in Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after buying an additional 18,224,005 shares during the last quarter. Geode Capital Management LLC increased its holdings in Apple by 6.5% during the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after buying an additional 20,483,787 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Apple by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after buying an additional 5,893,741 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after buying an additional 93,886,664 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on AAPL shares. Rosenblatt Securities reissued a “buy” rating and issued a $262.00 price target on shares of Apple in a research report on Monday, January 27th. Wedbush reissued an “outperform” rating and issued a $325.00 price target on shares of Apple in a research note on Friday, March 14th. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Apple in a research note on Wednesday, February 19th. KeyCorp reissued an “underweight” rating and set a $200.00 price target on shares of Apple in a research report on Friday, January 31st. Finally, Bank of America upped their price objective on shares of Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $243.65.

Apple Price Performance

Shares of Apple stock opened at $218.27 on Friday. The stock’s fifty day moving average is $231.82 and its 200 day moving average is $233.26. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a one year low of $164.08 and a one year high of $260.10. The stock has a market cap of $3.28 trillion, a P/E ratio of 34.65, a P/E/G ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.46%. Apple’s dividend payout ratio (DPR) is 15.87%.

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.