Apple Inc. (NASDAQ:AAPL) Stock Position Trimmed by Mattern Wealth Management LLC

Mattern Wealth Management LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 6.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 102,808 shares of the iPhone maker’s stock after selling 7,086 shares during the period. Apple makes up approximately 5.7% of Mattern Wealth Management LLC’s holdings, making the stock its 3rd biggest holding. Mattern Wealth Management LLC’s holdings in Apple were worth $25,745,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AAPL. International Assets Investment Management LLC boosted its position in Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after purchasing an additional 93,886,664 shares in the last quarter. State Street Corp raised its stake in shares of Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker’s stock worth $136,074,372,000 after purchasing an additional 55,935,105 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker’s stock worth $77,542,863,000 after purchasing an additional 20,483,787 shares during the last quarter. FMR LLC raised its stake in shares of Apple by 5.3% in the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after purchasing an additional 18,224,005 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Apple by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock worth $22,121,656,000 after purchasing an additional 5,893,741 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Citigroup raised their target price on Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Barclays lifted their price objective on Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. TD Cowen reiterated a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Raymond James lifted their target price on Apple to $250.00 and gave the company a “buy” rating in a research report on Monday, January 20th. Finally, Moffett Nathanson reiterated a “sell” rating and issued a $188.00 price objective (down previously from $202.00) on shares of Apple in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $243.65.

Apple Stock Up 1.9 %

Apple stock opened at $218.27 on Friday. Apple Inc. has a fifty-two week low of $164.08 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The company has a market capitalization of $3.28 trillion, a P/E ratio of 34.65, a PEG ratio of 2.44 and a beta of 1.18. The stock has a 50-day simple moving average of $231.82 and a 200-day simple moving average of $233.26.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, February 10th. Apple’s dividend payout ratio (DPR) is 15.87%.

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.