Apple Inc. (NASDAQ:AAPL) is Mcdonald Partners LLC’s 2nd Largest Position

Mcdonald Partners LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,458 shares of the iPhone maker’s stock after acquiring an additional 2,959 shares during the quarter. Apple makes up 4.4% of Mcdonald Partners LLC’s investment portfolio, making the stock its 2nd largest holding. Mcdonald Partners LLC’s holdings in Apple were worth $16,314,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Apple in the 4th quarter worth approximately $33,912,466,000. Vanguard Group Inc. lifted its stake in shares of Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after purchasing an additional 18,067,216 shares during the period. Swedbank AB acquired a new position in shares of Apple during the 1st quarter worth about $3,026,492,000. Global Assets Advisory LLC raised its stake in Apple by 23,076.4% during the 1st quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock worth $1,584,512,000 after buying an additional 9,200,345 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Apple by 158.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after purchasing an additional 7,067,379 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at $3,469,275. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,884 shares of company stock valued at $23,723,887. 0.06% of the stock is currently owned by company insiders.

Apple Price Performance

Shares of Apple stock opened at $222.50 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23. The company has a fifty day moving average of $223.14 and a 200-day moving average of $198.52. The stock has a market capitalization of $3.38 trillion, a price-to-earnings ratio of 34.60, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.26 earnings per share. Equities research analysts expect that Apple Inc. will post 6.7 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AAPL. Cfra boosted their price target on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 price target on shares of Apple in a report on Monday, September 9th. Raymond James raised their price objective on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Needham & Company LLC reissued a “buy” rating and set a $260.00 target price on shares of Apple in a report on Tuesday. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $250.00 price target on shares of Apple in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average target price of $238.62.

Apple Company 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.