McNaughton Wealth Management LLC Boosts Stake in Apple Inc. (NASDAQ:AAPL)

view original post

McNaughton Wealth Management LLC raised its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 30.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,728 shares of the iPhone maker’s stock after acquiring an additional 1,328 shares during the period. McNaughton Wealth Management LLC’s holdings in Apple were worth $783,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd boosted its position in shares of Apple by 145.8% in the fourth quarter. Qube Research & Technologies Ltd now owns 643,206 shares of the iPhone maker’s stock worth $114,214,000 after buying an additional 381,507 shares during the period. Human Investing LLC boosted its position in shares of Apple by 5.1% in the fourth quarter. Human Investing LLC now owns 24,527 shares of the iPhone maker’s stock worth $4,355,000 after buying an additional 1,196 shares during the period. Empowered Funds LLC boosted its position in shares of Apple by 173.4% in the fourth quarter. Empowered Funds LLC now owns 5,605 shares of the iPhone maker’s stock worth $995,000 after buying an additional 3,555 shares during the period. Dixon Fnancial Services Inc. purchased a new stake in shares of Apple in the fourth quarter worth about $3,023,000. Finally, Difesa Capital Management LP purchased a new stake in shares of Apple in the fourth quarter worth about $5,643,000. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Insider Buying and Selling

In related news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of several analyst reports. JPMorgan Chase & Co. set a $200.00 target price on Apple in a research report on Monday, September 12th. UBS Group set a $185.00 price target on Apple in a research note on Wednesday, September 14th. Wells Fargo & Company cut their price target on Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. Itau BBA Securities began coverage on Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price target on the stock. Finally, Credit Suisse Group set a $201.00 price target on Apple in a research note on Thursday, September 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $181.68.

Apple Stock Up 1.6 %

Shares of Apple stock opened at $156.90 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The business’s 50 day simple moving average is $159.84 and its 200-day simple moving average is $155.88. The stock has a market capitalization of $2.52 trillion, a price-to-earnings ratio of 25.89, a PEG ratio of 1.95 and a beta of 1.23. Apple Inc. has a twelve month low of $129.04 and a twelve month high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results 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 business had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.30 EPS. Equities research analysts forecast that Apple Inc. will post 6.11 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio (DPR) is 15.18%.

Apple Company Profile

(Get Rating)

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.

Further Reading

Receive News & Ratings for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.

Related Posts