Madden Advisory Services Inc. Sells 1,246 Shares of Apple Inc. (NASDAQ:AAPL)

Madden Advisory Services Inc. cut its stake in Apple Inc. (NASDAQ:AAPLFree Report) by 20.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,928 shares of the iPhone maker’s stock after selling 1,246 shares during the period. Madden Advisory Services Inc.’s holdings in Apple were worth $949,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Mainsail Financial Group LLC increased its stake in shares of Apple by 10.1% during the third quarter. Mainsail Financial Group LLC now owns 6,175 shares of the iPhone maker’s stock valued at $1,073,000 after purchasing an additional 568 shares in the last quarter. Little House Capital LLC raised its position in shares of Apple by 5.2% in the 3rd quarter. Little House Capital LLC now owns 88,061 shares of the iPhone maker’s stock worth $15,077,000 after purchasing an additional 4,347 shares during the last quarter. Octavia Wealth Advisors LLC boosted its stake in Apple by 3.0% in the 3rd quarter. Octavia Wealth Advisors LLC now owns 196,454 shares of the iPhone maker’s stock worth $33,635,000 after purchasing an additional 5,671 shares in the last quarter. Bernardo Wealth Planning LLC boosted its stake in Apple by 0.5% in the 3rd quarter. Bernardo Wealth Planning LLC now owns 37,182 shares of the iPhone maker’s stock worth $6,366,000 after purchasing an additional 202 shares in the last quarter. Finally, Red Cedar Investment Management LLC grew its position in Apple by 1.0% during the 3rd quarter. Red Cedar Investment Management LLC now owns 26,856 shares of the iPhone maker’s stock valued at $4,598,000 after purchasing an additional 274 shares during the last quarter. 60.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Timothy D. Cook sold 99,183 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the transaction, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the transaction, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The disclosure for this sale can be found here. Insiders sold 346,270 shares of company stock valued at $60,880,196 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AAPL. Tigress Financial upped their target price on shares of Apple from $240.00 to $245.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 30th. Canaccord Genuity Group increased their target price on Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Barclays lifted their price target on shares of Apple from $158.00 to $164.00 and gave the stock an “underweight” rating in a research note on Friday, May 3rd. Canaccord Genuity Group raised their price target on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Saturday, May 4th. Finally, Citigroup cut their price objective on Apple from $220.00 to $210.00 and set a “buy” rating for the company in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $205.59.

View Our Latest Analysis on AAPL

Apple Price Performance

NASDAQ:AAPL opened at $196.89 on Friday. The business’s 50-day moving average is $179.90 and its 200 day moving average is $183.48. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $199.62. The company has a market capitalization of $3.02 trillion, a P/E ratio of 30.62, a P/E/G ratio of 2.39 and a beta of 1.25. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPLGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. The business had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.52 EPS. On average, equities research analysts forecast that Apple Inc. will post 6.57 earnings per share for the current fiscal year.

Apple announced that its Board of Directors has initiated a stock buyback program on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were given a dividend of $0.25 per share. The ex-dividend date was Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 0.51%. This is a positive change from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio (DPR) is 15.55%.

Apple Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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