Apple Inc. (NASDAQ:AAPL) Stake Reduced by Mattson Financial Services LLC

Mattson Financial Services LLC cut its position in Apple Inc. (NASDAQ:AAPL) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,767 shares of the iPhone maker’s stock after selling 231 shares during the quarter. Apple accounts for 2.8% of Mattson Financial Services LLC’s holdings, making the stock its 3rd largest holding. Mattson Financial Services LLC’s holdings in Apple were worth $8,101,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AAPL. Hershey Financial Advisers LLC acquired a new position in shares of Apple during the second quarter worth about $42,000. Hoese & Co LLP grew its holdings in Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares in the last quarter. Sage Financial Group Inc. purchased a new stake in shares of Apple in the 2nd quarter valued at approximately $206,000. Benchmark Wealth Management LLC acquired a new stake in shares of Apple in the 2nd quarter valued at $208,000. Finally, SMH Capital Advisors Inc. purchased a new stake in shares of Apple during the 2nd quarter worth $209,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Stock Up 1.3 %

Shares of AAPL stock opened at $232.87 on Tuesday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The firm has a market cap of $3.52 trillion, a PE ratio of 38.30, a price-to-earnings-growth ratio of 2.25 and a beta of 1.24. The stock has a 50 day moving average of $228.06 and a 200-day moving average of $218.64.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period last year, the business earned $1.46 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is 16.45%.

Wall Street Analyst Weigh In

AAPL has been the subject of several analyst reports. Tigress Financial upped their price objective on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. Bank of America reiterated a “buy” rating and issued a $256.00 price target on shares of Apple in a research note on Thursday, October 3rd. Evercore ISI restated a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Finally, StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $235.25.

Insider Activity

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred 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 sale, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 408,170 shares of company stock worth $92,007,745. Company insiders own 0.06% of the company’s stock.

Apple Company 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.