Mattern Wealth Management LLC Sells 5,780 Shares of Apple Inc. (NASDAQ:AAPL)

Mattern Wealth Management LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 5.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 109,614 shares of the iPhone maker’s stock after selling 5,780 shares during the quarter. Apple comprises about 5.6% of Mattern Wealth Management LLC’s holdings, making the stock its 5th biggest holding. Mattern Wealth Management LLC’s holdings in Apple were worth $23,087,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after buying an additional 18,067,216 shares during the period. Norges Bank acquired a new position in Apple in the fourth quarter valued at approximately $33,912,466,000. Wellington Management Group LLP lifted its holdings in Apple by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock valued at $11,677,190,000 after acquiring an additional 2,096,360 shares during the last quarter. Fisher Asset Management LLC grew its position in Apple by 2.0% in the fourth quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock worth $10,531,834,000 after acquiring an additional 1,067,587 shares during the period. Finally, Capital International Investors increased its stake in Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after acquiring an additional 2,474,887 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Up 0.0 %

Shares of Apple stock opened at $222.77 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23. The company has a market capitalization of $3.42 trillion, a P/E ratio of 34.65, a P/E/G ratio of 2.60 and a beta of 1.24. The company has a 50 day moving average of $223.22 and a 200 day moving average of $198.23.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 EPS. As a group, research analysts forecast that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio (DPR) is 15.55%.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,884 shares of company stock valued at $23,723,887. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on AAPL. Evercore ISI reaffirmed an “outperform” rating and issued a $250.00 price target on shares of Apple in a research note on Tuesday, August 27th. Morgan Stanley restated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a report on Tuesday. Melius Research reaffirmed a “buy” rating and set a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. KeyCorp reiterated a “hold” rating and set a $247.61 price target on shares of Apple in a research report on Wednesday, August 28th. Finally, Bank of America restated a “buy” rating and issued a $256.00 price objective on shares of Apple in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $238.62.

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.