McLean Asset Management Corp lifted its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 0.5% in the second quarter, HoldingsChannel.com reports. The fund owned 98,957 shares of the iPhone maker’s stock after buying an additional 447 shares during the period. Apple comprises approximately 5.5% of McLean Asset Management Corp’s portfolio, making the stock its 3rd biggest holding. McLean Asset Management Corp’s holdings in Apple were worth $21,022,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in AAPL. Vanguard Group Inc. increased its position in Apple by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker’s stock valued at $311,157,662,000 after acquiring an additional 5,005,297 shares during the period. Geode Capital Management LLC boosted its stake in Apple by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker’s stock worth $84,999,145,000 after acquiring an additional 6,307,413 shares in the last quarter. Norges Bank bought a new position in shares of Apple in the fourth quarter valued at $46,868,648,000. Northern Trust Corp lifted its stake in shares of Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after buying an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Apple by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock valued at $26,220,566,000 after buying an additional 13,137,968 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.
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Insider Buying and Selling at Apple
In other Apple news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.06% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the stock. The Goldman Sachs Group restated a “buy” rating and set a $266.00 price objective on shares of Apple in a report on Tuesday, August 26th. Bank of America raised their price objective on shares of Apple from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Rosenblatt Securities lifted their target price on shares of Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a research report on Wednesday, September 10th. Loop Capital lowered their price objective on shares of Apple from $230.00 to $226.00 and set a “hold” rating for the company in a report on Thursday, August 21st. Finally, BMO Capital Markets restated a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.93.
View Our Latest Analysis on Apple
Apple Price Performance
Shares of NASDAQ AAPL opened at $238.99 on Thursday. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The firm has a market cap of $3.55 trillion, a P/E ratio of 36.27, a P/E/G ratio of 2.47 and a beta of 1.11. The business’s 50 day moving average price is $223.15 and its 200 day moving average price is $212.36. 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 – Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.40 EPS. On average, sell-side analysts expect 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. Investors of record on Monday, August 11th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple’s dividend payout ratio (DPR) is currently 15.78%.
About Apple
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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.
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