MCF Advisors LLC Acquires 499 Shares of Apple Inc. (NASDAQ:AAPL)

MCF Advisors LLC raised its holdings in Apple Inc. (NASDAQ:AAPL) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,820 shares of the iPhone maker’s stock after buying an additional 499 shares during the period. Apple comprises about 1.4% of MCF Advisors LLC’s holdings, making the stock its 13th largest position. MCF Advisors LLC’s holdings in Apple were worth $19,128,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AAPL. Fidelis Capital Partners LLC lifted its stake in Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after acquiring an additional 31,278 shares in the last quarter. Access Investment Management LLC bought a new position in shares of Apple during the first quarter valued at about $140,000. Hoese & Co LLP boosted its holdings in Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the last quarter. Sage Financial Group Inc. purchased a new position in shares of Apple in the 2nd quarter worth approximately $206,000. Finally, Benchmark Wealth Management LLC bought a new position in Apple in the 2nd quarter valued at $208,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Trading Up 1.2 %

Shares of AAPL stock opened at $235.00 on Monday. The business has a 50-day moving average of $225.78 and a 200 day moving average of $208.38. 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 Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The stock has a market capitalization of $3.60 trillion, a PE ratio of 36.55, a P/E/G ratio of 2.40 and a beta of 1.24.

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, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same quarter in the prior year, the firm posted $1.26 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. TD Cowen raised their price target on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Rosenblatt Securities reissued a “buy” rating and issued a $261.00 price target on shares of Apple in a report on Tuesday, September 10th. Raymond James boosted their price objective on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Piper Sandler Companies reaffirmed a “neutral” rating and set a $225.00 target price (up previously from $190.00) on shares of Apple in a report on Tuesday, July 9th. Finally, The Goldman Sachs Group raised their price target on shares of Apple from $265.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $239.27.

Insider Buying and Selling at Apple

In other 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 transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was 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 of the company’s stock, valued at $39,542,136.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is currently owned by company insiders.

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.