McAdam LLC Has $16.47 Million Stock Position in Apple Inc. $AAPL

McAdam LLC lifted its stake in Apple Inc. (NASDAQ:AAPL) by 7.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 80,263 shares of the iPhone maker’s stock after purchasing an additional 5,585 shares during the quarter. Apple accounts for about 0.9% of McAdam LLC’s investment portfolio, making the stock its 18th largest holding. McAdam LLC’s holdings in Apple were worth $16,467,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Burkett Financial Services LLC lifted its stake in Apple by 0.6% in the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after acquiring an additional 93 shares in the last quarter. Avid Wealth Partners LLC raised its stake in shares of Apple by 28.3% during the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after purchasing an additional 930 shares in the last quarter. Bell & Brown Wealth Advisors LLC raised its stake in shares of Apple by 0.4% during the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after purchasing an additional 240 shares in the last quarter. Andina Capital Management LLC raised its stake in shares of Apple by 209.2% during the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after purchasing an additional 4,591 shares in the last quarter. Finally, Plum Street Advisors LLC raised its stake in shares of Apple by 4.0% during the 1st quarter. Plum Street Advisors LLC now owns 7,889 shares of the iPhone maker’s stock worth $1,752,000 after purchasing an additional 301 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $256.48 on Wednesday. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The firm has a market capitalization of $3.81 trillion, a PE ratio of 38.92, a PEG ratio of 2.50 and a beta of 1.09. The business’s 50 day moving average is $234.84 and its 200-day moving average is $215.25. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.Apple’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.40 EPS. Sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AAPL shares. Moffett Nathanson raised Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target for the company in a research note on Thursday, September 4th. Melius Research set a $290.00 price objective on Apple and gave the company a “buy” rating in a research note on Wednesday, September 10th. Bank of America raised their price objective on Apple from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Loop Capital cut their price objective on Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a research note on Thursday, August 21st. Finally, JPMorgan Chase & Co. raised their price objective on Apple from $255.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $247.49.

Insider Activity

In related news, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the sale, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Timothy D. Cook sold 129,963 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the sale, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,922 shares of company stock valued at $64,320,190 over the last 90 days. 0.06% of the stock is owned by company insiders.

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.