McNaughton Wealth Management LLC Buys 512 Shares of Apple Inc. (NASDAQ:AAPL)

McNaughton Wealth Management LLC lifted its stake in Apple Inc. (NASDAQ:AAPL) by 6.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,547 shares of the iPhone maker’s stock after buying an additional 512 shares during the period. McNaughton Wealth Management LLC’s holdings in Apple were worth $1,899,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Advanced Portfolio Management LLC boosted its position in shares of Apple by 0.3% during the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock worth $3,260,000 after purchasing an additional 47 shares in the last quarter. Hanseatic Management Services Inc. lifted its position in Apple by 1.3% in the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker’s stock valued at $945,000 after acquiring an additional 48 shares in the last quarter. Family Capital Management Inc. increased its stake in Apple by 0.3% in the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock valued at $4,235,000 after buying an additional 48 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in Apple by 0.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker’s stock valued at $4,178,000 after buying an additional 48 shares during the last quarter. Finally, Scarborough Advisors LLC increased its stake in Apple by 0.3% in the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker’s stock valued at $3,992,000 after buying an additional 51 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Activity at Apple

In other news, CEO Timothy D. Cook sold 108,136 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total transaction of $24,184,616.40. Following the completion of the transaction, the chief executive officer now owns 3,280,295 shares of the company’s stock, valued at approximately $733,637,976.75. This trade represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the firm’s stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the transaction, the chief financial officer now directly owns 4,569 shares of the company’s stock, valued at $941,214. The trade was a 50.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,507 shares of company stock valued at $42,694,080 in the last quarter. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $201.08 on Friday. The company has a 50 day moving average of $202.61 and a 200-day moving average of $220.03. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The company has a market cap of $3.00 trillion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 2.25 and a beta of 1.22.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion for the quarter, compared to analysts’ expectations of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.53 earnings per share. As a group, equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple announced that its board has authorized a stock buyback program on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were paid a $0.26 dividend. This is an increase from Apple’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.04 annualized dividend and a yield of 0.52%. Apple’s dividend payout ratio is presently 16.20%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AAPL. Rosenblatt Securities lowered shares of Apple from a “buy” rating to a “neutral” rating and set a $217.00 price target on the stock. in a research note on Friday, May 2nd. Tigress Financial lifted their price target on shares of Apple from $295.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 3rd. China Renaissance began coverage on shares of Apple in a research note on Tuesday, April 22nd. They set a “buy” rating and a $241.00 price objective on the stock. Morgan Stanley restated an “overweight” rating on shares of Apple in a research note on Friday, June 13th. Finally, Bank of America reiterated a “buy” rating and issued a $235.00 price target on shares of Apple in a research note on Tuesday, June 10th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average target price of $234.39.

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.