Apple Inc. (NASDAQ:AAPL) is McGuire Investment Group LLC’s 3rd Largest Position

McGuire Investment Group LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 2.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 114,915 shares of the iPhone maker’s stock after selling 2,300 shares during the period. Apple accounts for 3.8% of McGuire Investment Group LLC’s portfolio, making the stock its 3rd largest holding. McGuire Investment Group LLC’s holdings in Apple were worth $26,775,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bright Financial Advisors Inc. increased its stake in shares of Apple by 1.0% during the 3rd quarter. Bright Financial Advisors Inc. now owns 16,767 shares of the iPhone maker’s stock worth $3,907,000 after purchasing an additional 163 shares during the last quarter. Guardian Investment Management increased its position in Apple by 7.2% during the third quarter. Guardian Investment Management now owns 98,729 shares of the iPhone maker’s stock worth $23,004,000 after buying an additional 6,647 shares during the last quarter. McCarthy & Cox lifted its position in shares of Apple by 3.9% in the third quarter. McCarthy & Cox now owns 1,767 shares of the iPhone maker’s stock worth $412,000 after buying an additional 66 shares during the last quarter. Crestmont Private Wealth LLC boosted its stake in shares of Apple by 4.8% during the 3rd quarter. Crestmont Private Wealth LLC now owns 3,166 shares of the iPhone maker’s stock worth $738,000 after acquiring an additional 145 shares in the last quarter. Finally, Darrow Company Inc. increased its holdings in shares of Apple by 20.2% during the 3rd quarter. Darrow Company Inc. now owns 3,401 shares of the iPhone maker’s stock valued at $792,000 after acquiring an additional 572 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the sale, the senior vice president now owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock worth $92,007,745 in the last ninety days. Insiders own 0.06% of the company’s stock.

Apple Trading Up 1.0 %

Apple stock opened at $239.59 on Tuesday. The company has a market cap of $3.62 trillion, a price-to-earnings ratio of 39.41, a P/E/G ratio of 2.33 and a beta of 1.24. The firm has a 50-day moving average of $229.02 and a 200-day moving average of $220.02. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a one year low of $164.07 and a one year high of $240.79.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $1.46 earnings per share. On average, equities analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a report on Friday, October 25th. Melius Research reissued a “buy” rating and set a $265.00 price objective on shares of Apple in a research report on Tuesday, August 27th. Bank of America reaffirmed a “buy” rating and issued a $256.00 target price on shares of Apple in a report on Thursday, October 3rd. Maxim Group increased their price objective on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, Wedbush reiterated an “outperform” rating and set a $300.00 target price on shares of Apple in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $235.68.

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.