MADDEN SECURITIES Corp Purchases 1,496 Shares of Apple Inc. $AAPL

MADDEN SECURITIES Corp lifted its position in Apple Inc. (NASDAQ:AAPL) by 4.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,435 shares of the iPhone maker’s stock after buying an additional 1,496 shares during the quarter. Apple comprises approximately 2.3% of MADDEN SECURITIES Corp’s holdings, making the stock its 12th largest position. MADDEN SECURITIES Corp’s holdings in Apple were worth $6,860,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Ryan Investment Management Inc. bought a new position in Apple in the 2nd quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC increased its position in 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 acquiring an additional 180 shares during the period. LSV Asset Management acquired a new position in shares of Apple during the fourth quarter valued at about $65,000. Elite Financial Inc. bought a new stake in shares of Apple in the first quarter valued at about $58,000. Finally, HFM Investment Advisors LLC acquired a new stake in shares of Apple during the 1st quarter worth approximately $99,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of recent research reports. Citigroup restated a “buy” rating on shares of Apple in a research note on Wednesday, September 10th. Evercore ISI reaffirmed an “outperform” rating on shares of Apple in a report on Monday, October 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Apple in a research report on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating and set a $240.00 price objective (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Finally, Wedbush reaffirmed an “outperform” rating on shares of Apple in a research note on Tuesday, October 21st. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $255.49.

Apple Stock Up 0.3%

Shares of NASDAQ AAPL opened at $269.70 on Thursday. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $271.41. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a market cap of $4.00 trillion, a P/E ratio of 40.93, a P/E/G ratio of 2.61 and a beta of 1.09. The firm has a 50 day moving average price of $246.55 and a 200 day moving average price of $221.19.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter last year, the firm posted $1.40 earnings per share. Apple’s revenue was up 9.6% compared to the same quarter last year. Analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O’brien sold 43,013 shares of Apple stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This trade represents a 23.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction on Thursday, October 2nd. The stock was 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 of the company’s stock, valued at $46,005,982.82. The trade was a 20.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 259,121 shares of company stock worth $65,358,981 in the last 90 days. Company insiders own 0.06% of the company’s stock.

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.