Apple Inc. (NASDAQ:AAPL) is McLean Asset Management Corp's 3rd Largest Position

McLean Asset Management Corp boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 60.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 98,510 shares of the iPhone maker's stock after purchasing an additional 37,124 shares during the period. Apple makes up 6.5% of McLean Asset Management Corp's investment portfolio, making the stock its 3rd largest holding. McLean Asset Management Corp's holdings in Apple were worth $21,882,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Advanced Portfolio Management LLC grew its holdings in shares of Apple by 0.3% in the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after purchasing an additional 47 shares during the last quarter. Hanseatic Management Services Inc. grew its holdings in Apple by 1.3% in the 4th quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock worth $945,000 after acquiring an additional 48 shares during the last quarter. Family Capital Management Inc. increased its position in shares of Apple by 0.3% in the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after acquiring an additional 48 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of Apple by 0.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock valued at $4,178,000 after acquiring an additional 48 shares during the last quarter. Finally, Scarborough Advisors LLC grew its stake in shares of Apple by 0.3% in the fourth quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock worth $3,992,000 after purchasing an additional 51 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AAPL shares. Barclays set a $173.00 price objective on Apple and gave the stock an "underweight" rating in a report on Tuesday, June 24th. JPMorgan Chase & Co. dropped their price target on Apple from $245.00 to $230.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. UBS Group set a $210.00 price target on shares of Apple and gave the company a "neutral" rating in a report on Thursday. TD Cowen decreased their price objective on shares of Apple from $290.00 to $275.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Citigroup reaffirmed a "buy" rating on shares of Apple in a research note on Tuesday, June 10th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $234.95.

Insider Buying and Selling

In other Apple news, CFO Kevan Parekh sold 4,570 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the completion of the transaction, the chief financial officer owned 4,569 shares in the company, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider directly owned 15,533 shares of the company's stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

AAPL stock traded up $0.92 during midday trading on Thursday, hitting $213.36. The company's stock had a trading volume of 34,926,355 shares, compared to its average volume of 53,553,501. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The company has a 50 day moving average of $203.16 and a two-hundred day moving average of $219.40. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The firm has a market capitalization of $3.19 trillion, a price-to-earnings ratio of 33.23, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business's revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.53 EPS. On average, analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's dividend payout ratio is 16.20%.

Apple declared that its Board of Directors has approved a share buyback plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

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.