Mowery & Schoenfeld Wealth Management LLC Has $3.40 Million Stock Position in Apple Inc. $AAPL

Mowery & Schoenfeld Wealth Management LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 10.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,312 shares of the iPhone maker's stock after acquiring an additional 1,511 shares during the period. Apple accounts for about 6.7% of Mowery & Schoenfeld Wealth Management LLC's holdings, making the stock its 2nd biggest position. Mowery & Schoenfeld Wealth Management LLC's holdings in Apple were worth $3,401,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AAPL. Tallon Kerry Patrick acquired a new stake in Apple in the fourth quarter valued at $1,877,000. First National Bank of Hutchinson lifted its holdings in Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after acquiring an additional 6,982 shares during the period. Eagle Capital Management LLC lifted its holdings in Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after acquiring an additional 272 shares during the period. Brighton Jones LLC lifted its holdings in Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after acquiring an additional 69,207 shares during the period. Finally, Revolve Wealth Partners LLC lifted its holdings in Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after acquiring an additional 2,695 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group restated a "buy" rating and issued a $266.00 price target on shares of Apple in a research report on Tuesday, August 26th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $217.00 price objective on shares of Apple in a research note on Tuesday, July 29th. Barclays lifted their price objective on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. lifted their price objective on Apple from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, DA Davidson reaffirmed a "buy" rating and issued a $250.00 price objective on shares of Apple in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average target price of $239.05.

Apple Stock Down 0.3%

Shares of AAPL traded down $0.67 during trading on Thursday, reaching $237.81. The company's stock had a trading volume of 23,367,216 shares, compared to its average volume of 56,619,613. The company has a fifty day moving average of $217.73 and a two-hundred day moving average of $212.92. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a market cap of $3.53 trillion, a price-to-earnings ratio of 36.11, a P/E/G ratio of 2.42 and a beta of 1.11. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business's revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.40 EPS. On average, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio is presently 15.78%.

Insider Buying and Selling

In related news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the transaction, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by insiders.

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.