Patrick M Sweeney & Associates Inc. Has $9.42 Million Stake in Apple Inc. (NASDAQ:AAPL)

Patrick M Sweeney & Associates Inc. reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,634 shares of the iPhone maker’s stock after selling 445 shares during the quarter. Apple accounts for approximately 10.7% of Patrick M Sweeney & Associates Inc.’s portfolio, making the stock its largest holding. Patrick M Sweeney & Associates Inc.’s holdings in Apple were worth $9,424,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AAPL. State Street Corp grew its holdings in Apple by 10.6% in the 3rd quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after acquiring an additional 55,935,105 shares during the last quarter. FMR LLC boosted its holdings in shares of 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 purchasing an additional 18,224,005 shares during the period. Geode Capital Management LLC grew its stake in shares of Apple by 6.5% in 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 purchasing 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 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock valued at $22,121,656,000 after purchasing an additional 5,893,741 shares during the period. Finally, International Assets Investment Management LLC raised its position in Apple by 20,372.7% during the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after purchasing an additional 93,886,664 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of a number of recent analyst reports. TD Cowen reiterated a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Citigroup lifted their price target on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday, January 31st. Sanford C. Bernstein upped their price objective on shares of Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Barclays lifted their target price on shares of Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $262.00 price target on shares of Apple in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $243.65.

Apple Price Performance

Shares of NASDAQ AAPL opened at $218.27 on Friday. The firm has a market cap of $3.28 trillion, a P/E ratio of 34.65, a PEG ratio of 2.44 and a beta of 1.18. Apple Inc. has a twelve month low of $164.08 and a twelve month high of $260.10. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The company has a 50 day moving average of $231.82 and a 200 day moving average of $233.33.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share 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%. As a group, research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s payout ratio is presently 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.