Apple Inc. (NASDAQ:AAPL) Shares Sold by McGinn Penninger Investment Management Inc.

McGinn Penninger Investment Management Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,293 shares of the iPhone maker’s stock after selling 385 shares during the quarter. Apple makes up approximately 9.1% of McGinn Penninger Investment Management Inc.’s holdings, making the stock its 2nd biggest holding. McGinn Penninger Investment Management Inc.’s holdings in Apple were worth $13,331,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Verus Financial Partners Inc. raised its stake in shares of Apple by 0.3% in the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after acquiring an additional 48 shares during the last quarter. Brown Financial Advisory grew its position in Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after acquiring an additional 50 shares during the last quarter. Core Wealth Management Inc. increased its holdings in Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after purchasing an additional 50 shares in the last quarter. Lowery Thomas LLC raised its position in Apple by 0.7% in the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after purchasing an additional 50 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. boosted its stake in Apple by 1.1% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after purchasing an additional 51 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This trade represents a 35.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This trade represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 404,040 shares of company stock valued at $91,062,512. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AAPL. Melius Research reissued a “buy” rating and set a $265.00 price target on shares of Apple in a research note on Tuesday, August 27th. Loop Capital decreased their price objective on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Monness Crespi & Hardt restated a “buy” rating and set a $245.00 target price on shares of Apple in a research report on Monday, September 9th. Oppenheimer reaffirmed a “buy” rating and set a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average price target of $235.51.

Apple Stock Performance

Shares of AAPL stock opened at $225.00 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The business has a 50 day moving average of $227.04 and a two-hundred day moving average of $215.96. The company has a market cap of $3.40 trillion, a P/E ratio of 37.01, a PEG ratio of 2.21 and a beta of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period last year, the firm earned $1.46 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. As a group, analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is 16.45%.

Apple Company Profile

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.