Mitchell Sinkler & Starr PA Purchases 5,480 Shares of Apple Inc. (NASDAQ:AAPL)

Mitchell Sinkler & Starr PA boosted its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 5.9% during the third quarter, Holdings Channel reports. The institutional investor owned 98,705 shares of the iPhone maker’s stock after purchasing an additional 5,480 shares during the quarter. Apple comprises approximately 5.3% of Mitchell Sinkler & Starr PA’s portfolio, making the stock its largest holding. Mitchell Sinkler & Starr PA’s holdings in Apple were worth $13,641,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. Wealthspire Advisors LLC grew its stake in Apple by 42.8% in the second quarter. Wealthspire Advisors LLC now owns 299,829 shares of the iPhone maker’s stock valued at $40,993,000 after purchasing an additional 89,865 shares in the last quarter. Emerald Advisors LLC grew its stake in Apple by 2.4% in the second quarter. Emerald Advisors LLC now owns 19,905 shares of the iPhone maker’s stock valued at $2,721,000 after purchasing an additional 465 shares in the last quarter. Eagle Bay Advisors LLC grew its stake in Apple by 35.7% in the second quarter. Eagle Bay Advisors LLC now owns 25,608 shares of the iPhone maker’s stock valued at $3,501,000 after purchasing an additional 6,735 shares in the last quarter. Callan Capital LLC boosted its stake in shares of Apple by 1.6% during the 2nd quarter. Callan Capital LLC now owns 85,226 shares of the iPhone maker’s stock worth $11,652,000 after acquiring an additional 1,322 shares during the period. Finally, Sageworth Trust Co boosted its stake in shares of Apple by 150.3% during the 2nd quarter. Sageworth Trust Co now owns 5,798 shares of the iPhone maker’s stock worth $793,000 after acquiring an additional 3,482 shares during the period. Institutional investors and hedge funds own 57.60% of the company’s stock.

Insider Buying and Selling

In related news, insider Chris Kondo sold 20,200 shares of the business’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the sale, the insider now owns 31,505 shares in the company, valued at approximately $4,685,423.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the sale, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total value of $3,004,144.00. Following the completion of the sale, the insider now owns 31,505 shares in the company, valued at approximately $4,685,423.60. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AAPL has been the subject of several research analyst reports. Robert W. Baird reduced their target price on Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, October 28th. Fundamental Research lifted their target price on Apple to $168.50 and gave the stock a “buy” rating in a research note on Tuesday, November 8th. Needham & Company LLC reiterated a “buy” rating and set a $170.00 target price on shares of Apple in a research note on Tuesday, November 8th. BNP Paribas downgraded Apple from an “outperform” rating to a “neutral” rating and set a $140.00 target price for the company. in a research note on Tuesday, January 3rd. Finally, Canaccord Genuity Group reduced their target price on Apple from $200.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, January 18th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $166.44.

Apple Price Performance

Apple stock opened at $141.11 on Tuesday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $179.61. The stock has a market capitalization of $2.23 trillion, a P/E ratio of 23.09, a price-to-earnings-growth ratio of 1.78 and a beta of 1.24. The stock has a fifty day moving average of $138.57 and a 200-day moving average of $148.14.

Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. The company had revenue of $90.15 billion during the quarter, compared to analysts’ expectations of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. Apple’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.24 EPS. On average, sell-side analysts expect that Apple Inc. will post 6.19 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were given a dividend of $0.23 per share. The ex-dividend date was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 0.65%. Apple’s dividend payout ratio is currently 15.06%.

Apple Profile

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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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.