MJP Associates Inc. ADV Has $12.83 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

MJP Associates Inc. ADV raised its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 38.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,809 shares of the iPhone maker’s stock after purchasing an additional 25,954 shares during the period. Apple makes up about 3.6% of MJP Associates Inc. ADV’s portfolio, making the stock its 8th largest holding. MJP Associates Inc. ADV’s holdings in Apple were worth $12,826,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. West Coast Financial LLC raised its position in shares of Apple by 2.0% in the 2nd quarter. West Coast Financial LLC now owns 154,827 shares of the iPhone maker’s stock valued at $21,168,000 after buying an additional 3,022 shares in the last quarter. Eclectic Associates Inc. ADV raised its position in shares of Apple by 0.9% in the 2nd quarter. Eclectic Associates Inc. ADV now owns 34,749 shares of the iPhone maker’s stock valued at $4,751,000 after buying an additional 302 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Apple by 1.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,630,945 shares of the iPhone maker’s stock valued at $359,702,000 after buying an additional 36,515 shares in the last quarter. MCIA Inc raised its position in shares of Apple by 0.4% in the 2nd quarter. MCIA Inc now owns 24,681 shares of the iPhone maker’s stock valued at $3,612,000 after buying an additional 97 shares in the last quarter. Finally, Cullinan Associates Inc. raised its position in shares of Apple by 9.1% in the 2nd quarter. Cullinan Associates Inc. now owns 658,439 shares of the iPhone maker’s stock valued at $90,022,000 after buying an additional 54,713 shares in the last quarter. 57.72% of the stock is currently owned by institutional investors and hedge funds.

Apple Trading Up 1.6 %

NASDAQ:AAPL opened at $156.90 on Wednesday. The firm’s fifty day moving average is $159.84 and its 200-day moving average is $155.88. 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 52 week low of $129.04 and a 52 week high of $182.94. The firm has a market cap of $2.52 trillion, a P/E ratio of 25.89, a P/E/G ratio of 1.95 and a beta of 1.23.

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

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.59%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio is presently 15.18%.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Luca Maestri sold 96,735 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research analyst reports. The Goldman Sachs Group reiterated a “neutral” rating and set a $139.00 price objective on shares of Apple in a research report on Thursday, September 8th. Bank of America lowered their price objective on shares of Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Itau BBA Securities initiated coverage on shares of Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price objective for the company. Deutsche Bank Aktiengesellschaft set a $175.00 price objective on shares of Apple in a research report on Monday, August 1st. Finally, KeyCorp upped their price objective on shares of Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, August 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $181.68.

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.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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