McAdam LLC Has $16.59 Million Stock Position in Apple Inc. $AAPL

McAdam LLC decreased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 8.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,678 shares of the iPhone maker's stock after selling 6,917 shares during the period. Apple makes up 1.0% of McAdam LLC's portfolio, making the stock its 16th largest holding. McAdam LLC's holdings in Apple were worth $16,588,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Advanced Portfolio Management LLC boosted its stake in Apple by 0.3% during the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after buying an additional 47 shares in the last quarter. Salus Financial Advisors LLC boosted its stake in Apple by 3.9% during the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock worth $291,000 after buying an additional 49 shares in the last quarter. Sharpepoint LLC boosted its stake in Apple by 3.5% during the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker's stock worth $322,000 after buying an additional 51 shares in the last quarter. Mission Hills Financial Advisory LLC boosted its stake in Apple by 1.3% during the first quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker's stock worth $892,000 after buying an additional 53 shares in the last quarter. Finally, Redwood Financial Network Corp boosted its stake in Apple by 0.6% during the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker's stock worth $2,184,000 after buying an additional 53 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Activity

In other news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Performance

Apple stock opened at $234.07 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a market cap of $3.47 trillion, a PE ratio of 35.52, a PEG ratio of 2.43 and a beta of 1.11. The company's 50-day moving average is $221.50 and its two-hundred day moving average is $212.02.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. During the same period in the prior year, the business posted $1.40 EPS. Apple's revenue was up 9.6% on a year-over-year basis. Equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple's dividend payout ratio is currently 15.78%.

Analysts Set New Price Targets

Several brokerages have recently commented on AAPL. Monness Crespi & Hardt boosted their target price on shares of Apple from $245.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Jefferies Financial Group boosted their target price on shares of Apple from $190.67 to $205.82 and gave the company a "hold" rating in a research note on Monday, September 8th. Phillip Securities downgraded shares of Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 target price on the stock. in a research note on Thursday. Rosenblatt Securities boosted their target price on shares of Apple from $223.00 to $241.00 and gave the company a "neutral" rating in a research note on Wednesday, September 10th. Finally, BMO Capital Markets restated a "buy" rating on shares of Apple in a research note on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Apple has an average rating of "Moderate Buy" and an average price target of $240.80.

Apple 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.