Madison Park Capital Advisors LLC Trims Position in Apple Inc. $AAPL

Madison Park Capital Advisors LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,732 shares of the iPhone maker’s stock after selling 56 shares during the quarter. Apple comprises about 4.4% of Madison Park Capital Advisors LLC’s holdings, making the stock its 11th largest position. Madison Park Capital Advisors LLC’s holdings in Apple were worth $5,279,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First National Bank of Hutchinson lifted its stake 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 worth $8,845,000 after acquiring an additional 6,982 shares during the period. Eagle Capital Management LLC raised its holdings in shares of Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after purchasing an additional 272 shares during the last quarter. Brighton Jones LLC increased its position in Apple by 14.8% during 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 last quarter. Revolve Wealth Partners LLC increased its holdings in Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after buying an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE increased its holdings in Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after buying an additional 1,155 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In related news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were 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 owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AAPL shares. JPMorgan Chase & Co. upped their price objective on Apple from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday. Sanford C. Bernstein started coverage on shares of Apple in a research note on Monday. They set an “outperform” rating and a $290.00 target price for the company. Barclays raised their target price on shares of Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a report on Friday, August 1st. Bank of America lifted their price target on Apple from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Finally, Evercore ISI lifted their price target on shares of Apple from $250.00 to $260.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 10th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $242.74.

Apple Stock Up 3.2%

AAPL stock opened at $245.50 on Friday. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The stock has a market capitalization of $3.64 trillion, a P/E ratio of 37.25, a P/E/G ratio of 2.47 and a beta of 1.11. The firm has a 50-day simple moving average of $224.35 and a 200-day simple moving average of $212.42. 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) last announced its quarterly earnings data 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 company had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.40 EPS. Equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Apple Profile

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.