McAdam LLC Raises Stake in Apple Inc. (NASDAQ:AAPL)

McAdam LLC grew its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 52,042 shares of the iPhone maker’s stock after buying an additional 156 shares during the period. Apple makes up about 0.8% of McAdam LLC’s investment portfolio, making the stock its 23rd largest holding. McAdam LLC’s holdings in Apple were worth $7,192,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Wealthspire Advisors LLC raised its holdings in shares of Apple by 42.8% during the second quarter. Wealthspire Advisors LLC now owns 299,829 shares of the iPhone maker’s stock valued at $40,993,000 after purchasing an additional 89,865 shares during the last quarter. Emerald Advisors LLC raised its holdings in shares of Apple by 2.4% during the second quarter. Emerald Advisors LLC now owns 19,905 shares of the iPhone maker’s stock valued at $2,721,000 after purchasing an additional 465 shares during the last quarter. Eagle Bay Advisors LLC raised its holdings in shares of Apple by 35.7% during the second quarter. Eagle Bay Advisors LLC now owns 25,608 shares of the iPhone maker’s stock valued at $3,501,000 after purchasing an additional 6,735 shares during the last quarter. Callan Capital LLC raised its holdings in shares of Apple by 1.6% during the second quarter. Callan Capital LLC now owns 85,226 shares of the iPhone maker’s stock valued at $11,652,000 after purchasing an additional 1,322 shares during the last quarter. Finally, Sageworth Trust Co grew its position in Apple by 150.3% during the second quarter. Sageworth Trust Co now owns 5,798 shares of the iPhone maker’s stock valued at $793,000 after buying an additional 3,482 shares during the period. 57.60% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Up 1.9 %

Shares of AAPL opened at $137.87 on Monday. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $179.61. The company has a market cap of $2.18 trillion, a P/E ratio of 22.56, a P/E/G ratio of 1.78 and a beta of 1.24. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.95. The company’s fifty day simple moving average is $138.72 and its 200-day simple moving average is $148.18.

Apple (NASDAQ:AAPL – Get Rating) last announced its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.03. Apple had a net margin of 25.31% and a return on equity of 160.90%. The business had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. During the same quarter in the prior year, the firm posted $1.24 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, analysts expect that Apple Inc. will post 6.19 EPS for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Monday, November 7th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Friday, November 4th. Apple’s dividend payout ratio is currently 15.06%.

Analyst Ratings Changes

AAPL has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Apple from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, October 28th. Rosenblatt Securities cut their target price on shares of Apple from $189.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, January 13th. National Bank Financial cut their target price on shares of Apple to $54.00 and set an “outperform” rating for the company in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $170.00 price target on shares of Apple in a research report on Tuesday, November 8th. Finally, BNP Paribas lowered shares of Apple from an “outperform” rating to a “neutral” rating and set a $140.00 price target for the company. in a research report on Tuesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $166.73.

Insider Activity

In other news, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $155.95, for a total value of $27,493,829.05. Following the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $17,259,454.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total value of $3,004,144.00. Following the transaction, the insider now directly owns 31,505 shares in the company, valued at $4,685,423.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the completion of the transaction, the chief financial officer now owns 110,673 shares in the company, valued at $17,259,454.35. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Profile

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, 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.