Apple Inc. (NASDAQ:AAPL) Shares Bought by Patrick M Sweeney & Associates Inc.

Patrick M Sweeney & Associates Inc. increased its position in Apple Inc. (NASDAQ:AAPL) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,077 shares of the iPhone maker’s stock after buying an additional 269 shares during the period. Apple accounts for approximately 6.5% of Patrick M Sweeney & Associates Inc.’s investment portfolio, making the stock its biggest holding. Patrick M Sweeney & Associates Inc.’s holdings in Apple were worth $8,020,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AAPL. Norges Bank acquired a new position in Apple during the 4th quarter valued at about $33,912,466,000. Vanguard Group Inc. boosted its stake in Apple by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after purchasing an additional 18,067,216 shares during the last quarter. Swedbank AB acquired a new position in Apple during the 1st quarter valued at about $3,026,492,000. Global Assets Advisory LLC boosted its stake in Apple by 23,076.4% during the 1st quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock valued at $1,584,512,000 after purchasing an additional 9,200,345 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Apple by 158.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after purchasing an additional 7,067,379 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity

In other news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The disclosure for this sale can be found here. Insiders sold 113,884 shares of company stock worth $23,723,887 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on AAPL shares. Citigroup reissued a “buy” rating and set a $255.00 target price on shares of Apple in a research report on Tuesday, August 27th. Bank of America reissued a “buy” rating and set a $256.00 target price on shares of Apple in a research report on Thursday, September 5th. TD Cowen lifted their target price on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Morgan Stanley reissued an “overweight” rating and set a $273.00 target price on shares of Apple in a research report on Tuesday. Finally, Piper Sandler Companies reissued a “neutral” rating and set a $225.00 target price (up previously from $190.00) on shares of Apple in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $238.62.

Apple Stock Up 0.0 %

AAPL opened at $222.77 on Friday. The company has a fifty day moving average price of $223.22 and a 200-day moving average price of $198.23. The firm has a market capitalization of $3.42 trillion, a P/E ratio of 34.65, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. Apple Inc. has a one year low of $164.07 and a one year high of $237.23.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.26 EPS. Equities research analysts expect that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s dividend payout ratio (DPR) is currently 15.55%.

About Apple

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.