MCF Advisors LLC Takes $14.61 Million Position in Apple Inc. (NASDAQ:AAPL)

MCF Advisors LLC bought a new stake in Apple Inc. (NASDAQ:AAPLGet Rating) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 83,671 shares of the iPhone maker’s stock, valued at approximately $14,610,000. Apple makes up approximately 1.4% of MCF Advisors LLC’s holdings, making the stock its 14th biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Foresight Capital Management Advisors Inc. increased its position in Apple by 0.6% during the 1st quarter. Foresight Capital Management Advisors Inc. now owns 23,577 shares of the iPhone maker’s stock worth $4,117,000 after purchasing an additional 131 shares in the last quarter. Levy Wealth Management Group LLC increased its position in Apple by 4.6% during the 1st quarter. Levy Wealth Management Group LLC now owns 49,230 shares of the iPhone maker’s stock worth $8,596,000 after purchasing an additional 2,186 shares in the last quarter. Mokosak Advisory Group LLC increased its position in Apple by 1.2% during the 1st quarter. Mokosak Advisory Group LLC now owns 5,702 shares of the iPhone maker’s stock worth $996,000 after purchasing an additional 66 shares in the last quarter. Lincoln Capital LLC increased its position in Apple by 29.2% during the 1st quarter. Lincoln Capital LLC now owns 52,010 shares of the iPhone maker’s stock worth $9,081,000 after purchasing an additional 11,767 shares in the last quarter. Finally, Pacific Sun Financial Corp increased its position in Apple by 0.7% during the 1st quarter. Pacific Sun Financial Corp now owns 40,150 shares of the iPhone maker’s stock worth $7,011,000 after purchasing an additional 287 shares in the last quarter. 57.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the sale, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the sale, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Performance

Shares of AAPL stock opened at $170.03 on Friday. The firm has a 50-day moving average of $153.98 and a 200-day moving average of $157.35. The company has a market cap of $2.73 trillion, a P/E ratio of 28.06, a P/E/G ratio of 2.16 and a beta of 1.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. Apple Inc. has a one year low of $129.04 and a one year high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. The company had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.30 earnings per share. Equities research analysts forecast that Apple Inc. will post 6.1 EPS for the current fiscal year.

Apple announced that its board has initiated a share repurchase program on Thursday, April 28th that authorizes the company to buyback $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were issued a $0.23 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.54%. Apple’s dividend payout ratio is currently 15.18%.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research analyst reports. UBS Group set a $185.00 price objective on shares of Apple in a research report on Thursday, July 21st. Piper Sandler decreased their price target on shares of Apple from $200.00 to $195.00 in a research report on Friday, April 29th. Barclays decreased their price target on shares of Apple from $167.00 to $166.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 13th. Fundamental Research set a $177.07 price target on shares of Apple and gave the company a “buy” rating in a research report on Thursday, August 4th. Finally, KeyCorp upped their price target on shares of Apple from $177.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, August 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $181.18.

About Apple

(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.

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