McNamara Financial Services Inc. Trims Stock Holdings in Apple Inc. (NASDAQ:AAPL)

McNamara Financial Services Inc. lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,312 shares of the iPhone maker’s stock after selling 87 shares during the quarter. Apple accounts for about 0.4% of McNamara Financial Services Inc.’s holdings, making the stock its 19th biggest holding. McNamara Financial Services Inc.’s holdings in Apple were worth $1,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in AAPL. Swedbank AB purchased a new position in shares of Apple during the 1st quarter worth approximately $3,026,492,000. Global Assets Advisory LLC raised its position in Apple by 23,076.4% in the first quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock valued at $1,584,512,000 after purchasing an additional 9,200,345 shares during the period. Canada Pension Plan Investment Board lifted its stake in Apple by 158.3% during the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after purchasing an additional 7,067,379 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Apple by 161.2% during the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after purchasing an additional 5,405,542 shares in the last quarter. Finally, Natixis boosted its position in shares of Apple by 127.7% during the first quarter. Natixis now owns 4,632,987 shares of the iPhone maker’s stock worth $794,465,000 after buying an additional 2,598,742 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 517,924 shares of company stock worth $114,786,399 in the last 90 days. 0.06% of the stock is owned by insiders.

Apple Stock Performance

Shares of AAPL stock opened at $232.15 on Friday. The stock’s 50-day moving average is $225.41 and its two-hundred day moving average is $207.39. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The firm has a market cap of $3.56 trillion, a price-to-earnings ratio of 36.10, a PEG ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.26 EPS. Analysts predict that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Jefferies Financial Group downgraded Apple from a “buy” rating to a “hold” rating and boosted their price objective for the company from $205.00 to $212.92 in a report on Monday, October 7th. Piper Sandler Companies reaffirmed a “neutral” rating and issued a $225.00 target price (up from $190.00) on shares of Apple in a research report on Tuesday, July 9th. Melius Research reissued a “buy” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, August 27th. Barclays restated an “underweight” rating and issued a $186.00 price objective on shares of Apple in a report on Tuesday, October 1st. Finally, Sanford C. Bernstein increased their target price on shares of Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $239.27.

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.