MADDEN SECURITIES Corp Has $7.46 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

MADDEN SECURITIES Corp lifted its stake in Apple Inc. (NASDAQ:AAPL) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,033 shares of the iPhone maker’s stock after purchasing an additional 546 shares during the quarter. Apple comprises approximately 3.2% of MADDEN SECURITIES Corp’s holdings, making the stock its 8th largest position. MADDEN SECURITIES Corp’s holdings in Apple were worth $7,464,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. increased its holdings in shares of Apple by 127.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock worth $12,943,000 after purchasing an additional 42,282 shares in the last quarter. Keener Financial Planning LLC lifted its holdings in shares of Apple by 9.3% during the first quarter. Keener Financial Planning LLC now owns 5,497 shares of the iPhone maker’s stock valued at $943,000 after purchasing an additional 469 shares in the last quarter. PrairieView Partners LLC boosted its position in shares of Apple by 1.0% during the first quarter. PrairieView Partners LLC now owns 24,932 shares of the iPhone maker’s stock valued at $4,276,000 after buying an additional 245 shares during the last quarter. Howland Capital Management LLC increased its holdings in Apple by 2.0% in the 1st quarter. Howland Capital Management LLC now owns 367,082 shares of the iPhone maker’s stock worth $62,947,000 after buying an additional 7,091 shares in the last quarter. Finally, Financial Connections Group Inc. raised its position in Apple by 11.9% in the 1st quarter. Financial Connections Group Inc. now owns 25,764 shares of the iPhone maker’s stock worth $4,418,000 after buying an additional 2,732 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Stock Up 1.0 %

Shares of AAPL stock opened at $237.33 on Friday. The stock has a market cap of $3.59 trillion, a P/E ratio of 39.03, a PEG ratio of 2.30 and a beta of 1.24. The company’s fifty day simple moving average is $229.02 and its two-hundred day simple moving average is $219.59. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.81.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating 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 return on equity of 152.94% and a net margin of 23.97%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.46 earnings per share. Analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is 16.45%.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock valued at $92,007,745 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on AAPL shares. Oppenheimer reiterated a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 target price on shares of Apple in a research report on Monday, November 25th. Loop Capital lowered their price target on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. KeyCorp lowered 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. Finally, The Goldman Sachs Group increased their target price on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.68.

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.