Apple Inc. (NASDAQ:AAPL) is Mcdaniel Terry & Co.’s 2nd Largest Position

Mcdaniel Terry & Co. lifted its position in Apple Inc. (NASDAQ:AAPL) by 0.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 360,084 shares of the iPhone maker’s stock after buying an additional 528 shares during the period. Apple makes up about 7.0% of Mcdaniel Terry & Co.’s portfolio, making the stock its 2nd largest position. Mcdaniel Terry & Co.’s holdings in Apple were worth $83,899,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. American Trust boosted its holdings in Apple by 3.1% in the first quarter. American Trust now owns 64,746 shares of the iPhone maker’s stock worth $11,103,000 after acquiring an additional 1,972 shares in the last quarter. Jackson Wealth Management LLC raised its position in shares of Apple by 2.5% in the 1st quarter. Jackson Wealth Management LLC now owns 197,961 shares of the iPhone maker’s stock valued at $33,946,000 after purchasing an additional 4,798 shares during the last quarter. Bush Investment Group LLC acquired a new stake in Apple in the 1st quarter worth approximately $1,002,000. Keynote Financial Services LLC purchased a new stake in Apple during the 1st quarter worth approximately $7,798,000. Finally, SRN Advisors LLC grew its position in Apple by 5.4% during the 1st quarter. SRN Advisors LLC now owns 4,354 shares of the iPhone maker’s stock worth $747,000 after purchasing an additional 222 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Activity

In related news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 508,170 shares of company stock worth $117,004,745 over the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on AAPL. Barclays decreased their price target on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, November 1st. UBS Group restated a “neutral” rating and issued a $236.00 target price on shares of Apple in a research note on Monday, December 2nd. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Loop Capital reduced their price objective on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 target price on shares of Apple in a report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.78.

Apple Price Performance

Shares of NASDAQ AAPL opened at $254.49 on Monday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a market cap of $3.85 trillion, a PE ratio of 41.86, a PEG ratio of 2.41 and a beta of 1.23. Apple Inc. has a one year low of $164.07 and a one year high of $255.00. The firm has a fifty day moving average of $234.97 and a 200 day moving average of $225.70.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business 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 company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.46 earnings per share. As a group, research analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced 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. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.39%. Apple’s payout ratio is currently 16.45%.

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.