Apple Inc. (NASDAQ:AAPL) Shares Sold by McLean Asset Management Corp

McLean Asset Management Corp lessened its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 59,981 shares of the iPhone maker’s stock after selling 516 shares during the quarter. Apple accounts for approximately 3.4% of McLean Asset Management Corp’s holdings, making the stock its 10th largest holding. McLean Asset Management Corp’s holdings in Apple were worth $8,572,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Apple in the fourth quarter worth about $25,228,507,000. Aaron Wealth Advisors LLC raised its stake in shares of Apple by 30,391.8% in the first quarter. Aaron Wealth Advisors LLC now owns 26,075,085 shares of the iPhone maker’s stock worth $149,333,000 after purchasing an additional 25,989,570 shares during the last quarter. State Street Corp raised its stake in shares of Apple by 1.8% in the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after purchasing an additional 10,951,705 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Apple by 31.7% in the first quarter. Capital Research Global Investors now owns 38,903,911 shares of the iPhone maker’s stock worth $6,793,041,000 after purchasing an additional 9,354,484 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Apple by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after purchasing an additional 8,734,393 shares during the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $150.70 on Monday. The stock’s fifty day moving average is $159.65 and its two-hundred day moving average is $156.02. The firm has a market capitalization of $2.42 trillion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 1.95 and a beta of 1.23. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 earnings per share. On average, research analysts anticipate that Apple Inc. will post 6.11 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. Apple’s dividend payout ratio is currently 15.18%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AAPL. Citigroup raised their price objective on Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Sanford C. Bernstein set a $170.00 price target on Apple in a research report on Monday, September 12th. Itau BBA Securities assumed coverage on Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target for the company. Barclays set a $169.00 price target on Apple in a research report on Wednesday, September 14th. Finally, Morgan Stanley reduced their price target on Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $181.52.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Apple news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the sale, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

About Apple

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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