McGlone Suttner Wealth Management Inc. Has $4.59 Million Stake in Apple Inc. (NASDAQ:AAPL)

McGlone Suttner Wealth Management Inc. reduced its position in Apple Inc. (NASDAQ:AAPL) by 9.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,700 shares of the iPhone maker’s stock after selling 2,010 shares during the quarter. Apple comprises about 1.0% of McGlone Suttner Wealth Management Inc.’s portfolio, making the stock its 17th largest position. McGlone Suttner Wealth Management Inc.’s holdings in Apple were worth $4,590,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AAPL. China Universal Asset Management Co. Ltd. raised its holdings in Apple by 127.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock worth $12,943,000 after purchasing an additional 42,282 shares during the last quarter. Empowered Funds LLC lifted its holdings in Apple by 37.5% in the first quarter. Empowered Funds LLC now owns 278,379 shares of the iPhone maker’s stock valued at $47,736,000 after buying an additional 75,939 shares during the period. Capital Wealth Planning LLC boosted its position in Apple by 3,199.9% during the first quarter. Capital Wealth Planning LLC now owns 1,666,108 shares of the iPhone maker’s stock valued at $285,704,000 after acquiring an additional 1,615,618 shares during the last quarter. Illinois Municipal Retirement Fund raised its position in shares of Apple by 7.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 1,010,341 shares of the iPhone maker’s stock worth $173,253,000 after acquiring an additional 73,898 shares in the last quarter. Finally, Avalon Trust Co lifted its stake in shares of Apple by 7.5% in the 1st quarter. Avalon Trust Co now owns 465,766 shares of the iPhone maker’s stock valued at $79,870,000 after purchasing an additional 32,639 shares during the period. 60.41% of the stock is owned by institutional investors.

Apple Price Performance

AAPL opened at $239.59 on Tuesday. The stock has a market capitalization of $3.62 trillion, a P/E ratio of 39.41, a PEG ratio of 2.33 and a beta of 1.24. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $240.79. The stock has a 50-day moving average price of $229.02 and a 200-day moving average price of $220.02.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 EPS. Equities analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.42%. Apple’s payout ratio is currently 16.45%.

Insider Buying and Selling at Apple

In related 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 value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $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. Insiders sold 408,170 shares of company stock valued at $92,007,745 in the last quarter. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Bank of America reiterated a “buy” rating and issued a $256.00 target price on shares of Apple in a report on Thursday, October 3rd. Piper Sandler restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Citigroup upped their price target on Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Oppenheimer reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. Finally, Melius Research restated a “buy” rating and set a $265.00 price target on shares of Apple in a research note on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $235.68.

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.