McGlone Suttner Wealth Management Inc. Raises Position in Apple Inc. (NASDAQ:AAPL)

McGlone Suttner Wealth Management Inc. grew its position in Apple Inc. (NASDAQ:AAPL) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,710 shares of the iPhone maker’s stock after acquiring an additional 698 shares during the period. Apple comprises 1.2% of McGlone Suttner Wealth Management Inc.’s portfolio, making the stock its 16th largest holding. McGlone Suttner Wealth Management Inc.’s holdings in Apple were worth $4,180,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AAPL. Yeomans Consulting Group Inc. purchased a new stake in Apple during the fourth quarter worth about $1,713,000. Raleigh Capital Management Inc. boosted its holdings in Apple by 11.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock worth $2,986,000 after buying an additional 1,643 shares in the last quarter. GLOBALT Investments LLC GA purchased a new stake in Apple during the fourth quarter worth about $38,406,000. Barden Capital Management Inc. boosted its holdings in Apple by 132.8% during the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after buying an additional 18,615 shares in the last quarter. Finally, Sunpointe LLC purchased a new stake in Apple during the fourth quarter worth about $4,782,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The disclosure for this sale can be found here. Insiders sold 113,884 shares of company stock worth $23,723,887 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AAPL. Sanford C. Bernstein boosted their price objective on shares of Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. JPMorgan Chase & Co. reissued an “overweight” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, September 10th. Erste Group Bank upgraded shares of Apple from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. KeyCorp restated a “hold” rating and set a $247.61 target price on shares of Apple in a research report on Wednesday, August 28th. Finally, Bank of America restated a “buy” rating and set a $256.00 target price on shares of Apple in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $239.17.

Apple Trading Down 2.8 %

AAPL opened at $216.32 on Tuesday. The stock has a market capitalization of $3.32 trillion, a PE ratio of 33.64, a P/E/G ratio of 2.62 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23. The firm’s fifty day moving average price is $222.91 and its 200 day moving average price is $199.00. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter last year, the company earned $1.26 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, research analysts expect that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.46%. Apple’s dividend payout ratio is presently 15.55%.

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.