Apple Inc. (NASDAQ:AAPL) Stock Holdings Boosted by Mattern Capital Management LLC

Mattern Capital Management LLC lifted its stake in Apple Inc. (NASDAQ:AAPL – Get Rating) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,511 shares of the iPhone maker’s stock after acquiring an additional 3,301 shares during the period. Apple makes up about 1.9% of Mattern Capital Management LLC’s holdings, making the stock its largest holding. Mattern Capital Management LLC’s holdings in Apple were worth $10,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in AAPL. MKT Advisors LLC boosted its stake in Apple by 0.5% during the 2nd quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after purchasing an additional 60 shares during the period. Silver Oak Advisory Group Inc. increased its holdings in shares of Apple by 1.8% in the 2nd quarter. Silver Oak Advisory Group Inc. now owns 3,925 shares of the iPhone maker’s stock valued at $537,000 after purchasing an additional 69 shares in the last quarter. 3D L Capital Management LLC increased its holdings in shares of Apple by 2.9% in the 1st quarter. 3D L Capital Management LLC now owns 2,445 shares of the iPhone maker’s stock valued at $427,000 after purchasing an additional 70 shares in the last quarter. Weik Capital Management increased its holdings in Apple by 0.3% during the 1st quarter. Weik Capital Management now owns 25,238 shares of the iPhone maker’s stock valued at $4,407,000 after acquiring an additional 70 shares in the last quarter. Finally, Coyle Financial Counsel LLC increased its holdings in Apple by 0.3% during the 2nd quarter. Coyle Financial Counsel LLC now owns 26,125 shares of the iPhone maker’s stock valued at $3,572,000 after acquiring an additional 71 shares in the last quarter. Institutional investors own 57.60% of the company’s stock.

Apple Price Performance

Shares of Apple stock opened at $175.16 on Monday. The stock has a market capitalization of $2.76 trillion, a price-to-earnings ratio of 29.74, a price-to-earnings-growth ratio of 2.34 and a beta of 1.29. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.56. The company has a 50-day simple moving average of $164.84 and a two-hundred day simple moving average of $150.62. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $176.39.

Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The iPhone maker reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.08. Apple had a net margin of 24.49% and a return on equity of 165.72%. The firm had revenue of $94.84 billion during the quarter, compared to the consensus estimate of $92.84 billion. During the same quarter last year, the firm earned $1.52 earnings per share. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. Analysts forecast that Apple Inc. will post 5.99 EPS for the current year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 15th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Friday, May 12th. This is a positive change from Apple’s previous quarterly dividend of $0.23. Apple’s dividend payout ratio (DPR) is currently 16.30%.

Apple announced that its board has initiated a share buyback plan on Thursday, May 4th that permits the company to buyback $90.00 billion in shares. This buyback authorization permits the iPhone maker to repurchase up to 3.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Raymond James lowered their target price on shares of Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. Morgan Stanley raised their price objective on shares of Apple from $180.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, May 5th. Cowen decreased their target price on shares of Apple from $200.00 to $195.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. Fundamental Research set a $183.86 price target on shares of Apple and gave the company a “buy” rating in a report on Wednesday, May 17th. Finally, Bank of America raised their target price on Apple from $173.00 to $176.00 and gave the stock a “neutral” rating in a research report on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $174.74.

Insider Activity

In related news, insider Chris Kondo sold 4,092 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $173.26, for a total value of $708,979.92. Following the transaction, the insider now directly owns 33,946 shares of the company’s stock, valued at approximately $5,881,483.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Apple news, COO Jeffrey E. Williams sold 187,730 shares of the stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $159.76, for a total value of $29,991,744.80. Following the completion of the sale, the chief operating officer now owns 489,816 shares in the company, valued at approximately $78,253,004.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Chris Kondo sold 4,092 shares of Apple stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $173.26, for a total value of $708,979.92. Following the sale, the insider now directly owns 33,946 shares in the company, valued at $5,881,483.96. The disclosure for this sale can be found here. Insiders have sold 439,529 shares of company stock worth $71,703,657 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Apple Profile

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Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.