Mainstay Capital Management LLC ADV Has $3.80 Million Position in Apple Inc. $AAPL

Mainstay Capital Management LLC ADV grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 102.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 18,540 shares of the iPhone maker’s stock after acquiring an additional 9,392 shares during the quarter. Mainstay Capital Management LLC ADV’s holdings in Apple were worth $3,804,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AAPL. First National Bank of Hutchinson boosted its holdings in shares of Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after purchasing an additional 6,982 shares in the last quarter. Eagle Capital Management LLC lifted its position in shares of Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after buying an additional 272 shares during the last quarter. Brighton Jones LLC boosted its stake in Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after buying an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC grew its position in Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after acquiring an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE raised its stake 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 worth $12,587,000 after acquiring an additional 1,155 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of Apple from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday. TD Cowen raised their price objective on Apple from $275.00 to $325.00 and gave the company a “buy” rating in a report on Friday. CLSA upgraded Apple to a “strong-buy” rating in a research report on Sunday, October 5th. Sanford C. Bernstein set a $325.00 target price on Apple in a report on Monday. Finally, Citigroup reiterated a “buy” rating and issued a $315.00 target price (up from $245.00) on shares of Apple in a research report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average target price of $277.52.

Apple Stock Performance

Shares of AAPL stock opened at $269.05 on Tuesday. The firm has a 50 day moving average of $249.17 and a 200-day moving average of $222.85. The company has a market cap of $3.99 trillion, a price-to-earnings ratio of 40.83, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09. 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 Inc. has a 52 week low of $169.21 and a 52 week high of $277.32.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $102.47 billion during the quarter, compared to analyst estimates of $101.65 billion. During the same period in the previous year, the company posted $1.64 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. On average, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Monday, November 10th will be paid a dividend of $0.26 per share. The ex-dividend date is Monday, November 10th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is 13.92%.

Insider Activity

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were 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 directly owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 value of $11,071,116.07. Following the sale, the senior vice president owned 136,687 shares in the company, valued at $35,181,866.93. This trade represents a 23.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 259,121 shares of company stock valued at $65,358,981 over the last quarter. 0.06% of the stock is owned by insiders.

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.