Mengis Capital Management Inc. Sells 204 Shares of Apple Inc. (NASDAQ:AAPL)by Sarita Garza
Mengis Capital Management Inc. trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 0.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,222 shares of the iPhone maker’s stock after selling 204 shares during the period. Apple comprises about 6.7% of Mengis Capital Management Inc.’s investment portfolio, making the stock its biggest position. Mengis Capital Management Inc.’s holdings in Apple were worth $19,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently bought and sold shares of AAPL. Altshuler Shaham Ltd grew its position in Apple by 2,180.0% in the 4th quarter. Altshuler Shaham Ltd now owns 114 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 109 shares during the last quarter. Sage Financial Group Inc. acquired a new stake in Apple in the 4th quarter worth $36,000. Stralem & Co. Inc. acquired a new stake in Apple in the 1st quarter worth $39,000. Sycomore Asset Management acquired a new stake in Apple in the 1st quarter worth $50,000. Finally, CXI Advisors acquired a new stake in Apple in the 4th quarter worth $68,000. Institutional investors own 61.95% of the company’s stock.
AAPL has been the subject of a number of analyst reports. Sanford C. Bernstein set a $285.00 price objective on shares of Apple and gave the stock a “neutral” rating in a report on Friday, May 1st. DA Davidson reduced their price objective on shares of Apple from $370.00 to $355.00 and set a “buy” rating for the company in a report on Friday, May 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $350.00 price objective on shares of Apple in a report on Friday, May 1st. Goldman Sachs Group reaffirmed a “sell” rating and set a $243.00 price objective on shares of Apple in a report on Friday, May 1st. Finally, Raymond James raised their price objective on shares of Apple from $305.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $303.38.
Shares of NASDAQ:AAPL opened at $318.25 on Friday. Apple Inc. has a one year low of $170.27 and a one year high of $327.85. The company has a 50 day moving average of $294.04 and a 200-day moving average of $287.10. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.50 and a quick ratio of 1.46. The stock has a market cap of $1,396.56 billion, a price-to-earnings ratio of 24.96, a P/E/G ratio of 2.41 and a beta of 1.17.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.55 EPS for the quarter, topping the consensus estimate of $2.26 by $0.29. Apple had a net margin of 21.35% and a return on equity of 64.49%. The company had revenue of $58.31 billion during the quarter, compared to analysts’ expectations of $54.64 billion. During the same quarter in the previous year, the company earned $2.46 EPS. Apple’s revenue was up .5% on a year-over-year basis. Equities research analysts anticipate that Apple Inc. will post 12.31 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a dividend of $0.82 per share. This is a boost from Apple’s previous quarterly dividend of $0.77. The ex-dividend date was Friday, May 8th. This represents a $3.28 annualized dividend and a dividend yield of 1.03%. Apple’s payout ratio is currently 27.59%.
In related news, insider Chris Kondo sold 4,491 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $305.62, for a total transaction of $1,372,539.42. Following the completion of the transaction, the insider now owns 7,370 shares in the company, valued at $2,252,419.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 41,062 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $241.44, for a total transaction of $9,914,009.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,752 shares of company stock valued at $24,750,125. 0.05% of the stock is owned by corporate insiders.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. 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, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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