Mattern Capital Management LLC Sells 2,285 Shares of Apple Inc. $AAPL

Mattern Capital Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 76,733 shares of the iPhone maker’s stock after selling 2,285 shares during the period. Apple accounts for 2.5% of Mattern Capital Management LLC’s holdings, making the stock its biggest position. Mattern Capital Management LLC’s holdings in Apple were worth $20,861,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AAPL. Isthmus Partners LLC raised its position in shares of Apple by 6.4% during the third quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker’s stock worth $25,000 after purchasing an additional 5,808 shares during the period. Sellwood Investment Partners LLC grew its holdings in Apple by 110.9% during the third quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker’s stock worth $34,000 after buying an additional 71 shares in the last quarter. ROSS JOHNSON & Associates LLC grew its holdings in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares in the last quarter. LSV Asset Management bought a new stake in Apple during the fourth quarter worth $65,000. Finally, 49 Wealth Management LLC grew its holdings in Apple by 15.7% during the third quarter. 49 Wealth Management LLC now owns 298,920 shares of the iPhone maker’s stock worth $76,000 after buying an additional 40,543 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $308.82 on Monday. The company has a market capitalization of $4.54 trillion, a PE ratio of 37.34, a price-to-earnings-growth ratio of 2.69 and a beta of 1.06. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The business has a fifty day moving average price of $269.64 and a two-hundred day moving average price of $268.62. Apple Inc. has a 1 year low of $193.46 and a 1 year high of $311.40.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The firm had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.65 EPS. Analysts forecast that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a $0.27 dividend. This is a boost from Apple’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple’s dividend payout ratio is currently 13.06%.

Analyst Upgrades and Downgrades

AAPL has been the subject of several recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a report on Friday, May 1st. DA Davidson reiterated a “neutral” rating and set a $270.00 price target on shares of Apple in a report on Friday, May 1st. Evercore reiterated an “outperform” rating and set a $365.00 price target on shares of Apple in a report on Thursday, May 14th. TD Cowen reiterated a “buy” rating and set a $335.00 price target (up from $325.00) on shares of Apple in a report on Friday, May 1st. Finally, KeyCorp reiterated a “sector weight” rating on shares of Apple in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $308.74.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 30,002 shares of the company’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total value of $7,661,010.70. Following the completion of the transaction, the senior vice president owned 136,810 shares in the company, valued at $34,934,433.50. This represents a 17.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of the company’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the transaction, the chief financial officer owned 13,366 shares of the company’s stock, valued at $3,675,650. This trade represents a 10.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 97,759 shares of company stock worth $24,964,305 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple continues to be viewed as one of the best long-term large-cap tech names, with reports highlighting strong iPhone demand, its massive installed base, and the potential for Services to drive the next leg of earnings growth. Apple Services story
• Positive Sentiment: Analysts remain constructive: Evercore ISI reiterated an Outperform rating and raised its price target, while other commentary says Apple can keep compounding earnings and free cash flow as it expands AI features and devices. Analyst commentary
• Positive Sentiment: Apple executives saying the company is still in the “early innings” of spatial computing is reinforcing the view that new product categories could support future growth beyond the iPhone. Spatial computing article
• Neutral Sentiment: Apple’s legal fight with Epic Games remains a drag on sentiment, as the company asked the U.S. Supreme Court to review a contempt order tied to App Store fees. Epic lawsuit article
• Negative Sentiment: Some analysts are becoming more cautious on valuation after Apple’s run to new highs, warning the stock may be due for profit-taking. KeyBanc caution article

About Apple

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.