McAdam LLC Boosts Stake in Apple Inc. (NASDAQ:AAPL)

McAdam LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 78,385 shares of the iPhone maker's stock after acquiring an additional 4,883 shares during the period. Apple makes up 1.0% of McAdam LLC's investment portfolio, making the stock its 16th biggest position. McAdam LLC's holdings in Apple were worth $18,264,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. RAM Investment Partners LLC lifted its position in Apple by 2.0% in the 3rd quarter. RAM Investment Partners LLC now owns 15,503 shares of the iPhone maker's stock worth $3,612,000 after buying an additional 307 shares during the last quarter. Fulcrum Capital LLC lifted its holdings in shares of Apple by 3.4% in the 3rd quarter. Fulcrum Capital LLC now owns 110,619 shares of the iPhone maker's stock worth $25,774,000 after acquiring an additional 3,588 shares during the last quarter. Wallington Asset Management LLC boosted its stake in shares of Apple by 5.7% in the 3rd quarter. Wallington Asset Management LLC now owns 131,557 shares of the iPhone maker's stock valued at $30,653,000 after purchasing an additional 7,095 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its holdings in shares of Apple by 8.9% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 354,994 shares of the iPhone maker's stock valued at $82,714,000 after purchasing an additional 28,891 shares during the last quarter. Finally, Iron Horse Wealth Management LLC raised its position in Apple by 5.3% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 4,812 shares of the iPhone maker's stock worth $1,121,000 after purchasing an additional 241 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Up 1.9 %

Shares of Apple stock opened at $254.49 on Friday. The company has a 50-day simple moving average of $234.97 and a two-hundred day simple moving average of $225.48. The stock has a market capitalization of $3.85 trillion, a PE ratio of 41.86, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $255.00. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.46 EPS. On average, analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple's dividend payout ratio is currently 16.45%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AAPL. Citigroup raised their price objective on Apple to $185.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Wedbush reaffirmed an "outperform" rating and issued a $300.00 price target on shares of Apple in a research note on Friday, November 29th. Rosenblatt Securities increased their price objective on Apple from $261.00 to $262.00 and gave the company a "buy" rating in a research note on Friday, November 1st. New Street Research reaffirmed a "neutral" rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $260.00 price target on shares of Apple in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and a consensus target price of $236.78.

Insider Activity

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares of the company's stock, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now owns 15,419 shares of the company's stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 508,170 shares of company stock valued at $117,004,745 in the last 90 days. 0.06% of the stock is currently owned by insiders.

About Apple

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.