McAdam LLC Buys 4,895 Shares of Apple Inc. (NASDAQ:AAPL)

McAdam LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 7.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 73,502 shares of the iPhone maker’s stock after purchasing an additional 4,895 shares during the period. Apple accounts for 0.9% of McAdam LLC’s holdings, making the stock its 18th biggest position. McAdam LLC’s holdings in Apple were worth $15,481,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Christopher J. Hasenberg Inc bought a new stake in Apple during the first quarter valued at about $35,000. A.P. Gilfoyle & Co. L.P. bought a new stake in Apple during the fourth quarter valued at about $39,000. University of Texas Texas AM Investment Managment Co. grew its holdings in Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares during the period. Clarity Asset Management Inc. bought a new stake in Apple during the fourth quarter valued at about $85,000. Finally, Clear Street Markets LLC grew its holdings in Apple by 100.6% during the fourth quarter. Clear Street Markets LLC now owns 483 shares of the iPhone maker’s stock valued at $93,000 after purchasing an additional 83,965 shares during the period. Institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $227.79 on Friday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23. The firm has a market cap of $3.49 trillion, a price-to-earnings ratio of 35.43, a PEG ratio of 2.66 and a beta of 1.24. The stock’s 50-day moving average is $222.19 and its two-hundred day moving average is $202.16. 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 (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. Apple’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 EPS. Analysts predict that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s dividend payout ratio is currently 15.55%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. 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. TD Cowen boosted their price objective on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 price objective on shares of Apple in a research report on Tuesday, September 10th. New Street Research restated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Wednesday. Finally, Maxim Group restated a “hold” rating and issued a $203.00 price objective on shares of Apple in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $238.76.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. The disclosure for this sale can be found here. Insiders have sold 113,884 shares of company stock worth $23,723,887 in the last quarter. 0.06% of the stock is owned by corporate insiders.

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.