McGuire Investment Group LLC Grows Stock Holdings in Apple Inc. $AAPL

McGuire Investment Group LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 1.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 116,410 shares of the iPhone maker’s stock after acquiring an additional 1,707 shares during the quarter. Apple comprises 3.1% of McGuire Investment Group LLC’s holdings, making the stock its 9th largest position. McGuire Investment Group LLC’s holdings in Apple were worth $23,884,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of AAPL. Ryan Investment Management Inc. bought a new position in shares of Apple during the second quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC increased its holdings in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares during the period. Elite Financial Inc. bought a new position in Apple in the first quarter valued at approximately $58,000. LSV Asset Management bought a new position in Apple in the fourth quarter valued at approximately $65,000. Finally, HFM Investment Advisors LLC bought a new position in Apple in the first quarter valued at approximately $99,000. 67.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on AAPL. UBS Group reissued a “neutral” rating on shares of Apple in a research note on Monday, September 8th. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research note on Friday, July 25th. The Goldman Sachs Group set a $279.00 price objective on shares of Apple and gave the company a “buy” rating in a research note on Tuesday. Tigress Financial lifted their price objective on shares of Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 17th. Finally, Loop Capital raised shares of Apple from a “hold” rating to a “buy” rating and lifted their price objective for the company from $226.00 to $315.00 in a research note on Monday. Four analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $252.47.

Apple Stock Performance

NASDAQ AAPL opened at $262.77 on Wednesday. The firm’s fifty day moving average price is $242.49 and its two-hundred day moving average price is $217.74. The stock has a market cap of $3.90 trillion, a PE ratio of 39.87, a PEG ratio of 2.55 and a beta of 1.09. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $265.29. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion for 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%. The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.40 earnings per share. On average, equities analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple’s payout ratio is 15.78%.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the transaction, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of Apple stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 259,121 shares of company stock worth $65,358,981 in the last three months. 0.06% of the stock is currently 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.