Apple Inc. (NASDAQ:AAPL) Shares Purchased by Mechanics Financial Corp

Mechanics Financial Corp lifted its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 73,551 shares of the iPhone maker’s stock after purchasing an additional 75 shares during the period. Apple makes up 6.0% of Mechanics Financial Corp’s holdings, making the stock its 4th biggest holding. Mechanics Financial Corp’s holdings in Apple were worth $10,056,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Apple by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after purchasing an additional 8,734,393 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Apple by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock valued at $14,097,970,000 after purchasing an additional 1,155,915 shares in the last quarter. Swiss National Bank grew its holdings in shares of Apple by 13.1% in the first quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock valued at $12,407,910,000 after purchasing an additional 8,230,300 shares in the last quarter. Wellington Management Group LLP grew its holdings in Apple by 10.1% during the 1st quarter. Wellington Management Group LLP now owns 67,133,546 shares of the iPhone maker’s stock worth $11,722,187,000 after acquiring an additional 6,162,898 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Apple by 2.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 49,435,007 shares of the iPhone maker’s stock worth $6,758,754,000 after acquiring an additional 1,003,177 shares in the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.

Apple Stock Up 0.4 %

AAPL stock opened at $151.29 on Friday. The company has a market cap of $2.41 trillion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 1.90 and a beta of 1.25. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The company has a fifty day moving average price of $147.08 and a 200 day moving average price of $149.95.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.02. The company had revenue of $90.15 billion during the quarter, compared to the consensus estimate of $88.77 billion. Apple had a net margin of 25.31% and a return on equity of 160.90%. Apple’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 EPS. Sell-side analysts expect that Apple Inc. will post 6.26 earnings per share for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. Apple’s payout ratio is currently 15.06%.

Wall Street Analysts Forecast Growth

Several research firms have commented on AAPL. Barclays lowered their price target on shares of Apple from $156.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, November 7th. Wedbush lowered their price target on shares of Apple from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, October 28th. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a report on Saturday, November 5th. Itau BBA Securities began coverage on shares of Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $170.00 price target on shares of Apple in a report on Tuesday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $176.26.

Insiders Place Their Bets

In other Apple news, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the transaction, the chief financial officer now owns 110,673 shares in the company, valued at approximately $17,259,454.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Apple news, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the transaction, the chief financial officer now owns 110,673 shares in the company, valued at approximately $17,259,454.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Deirdre O’brien sold 8,053 shares of the stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $142.45, for a total transaction of $1,147,149.85. Following the completion of the transaction, the senior vice president now owns 136,290 shares of the company’s stock, valued at approximately $19,414,510.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 360,651 shares of company stock worth $53,703,645. 0.06% of the stock is owned by insiders.

About Apple

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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