McGlone Suttner Wealth Management Inc. Has $4.18 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

McGlone Suttner Wealth Management Inc. grew its position in Apple Inc. (NASDAQ:AAPL) by 3.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 21,710 shares of the iPhone maker’s stock after purchasing an additional 698 shares during the period. Apple comprises approximately 1.2% of McGlone Suttner Wealth Management Inc.’s holdings, making the stock its 16th largest holding. McGlone Suttner Wealth Management Inc.’s holdings in Apple were worth $4,180,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Foresight Capital Management Advisors Inc. boosted its holdings in Apple by 0.3% in the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock valued at $4,003,000 after purchasing an additional 55 shares during the period. Hoese & Co LLP boosted its holdings in Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares during the period. Stableford Capital II LLC boosted its holdings in Apple by 0.3% in the 1st quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock valued at $2,942,000 after purchasing an additional 59 shares during the period. Whitcomb & Hess Inc. boosted its holdings in Apple by 1.7% in the 2nd quarter. Whitcomb & Hess Inc. now owns 3,540 shares of the iPhone maker’s stock valued at $746,000 after purchasing an additional 59 shares during the period. Finally, Kwmg LLC boosted its holdings in Apple by 0.6% in the 1st quarter. Kwmg LLC now owns 10,640 shares of the iPhone maker’s stock valued at $1,825,000 after purchasing an additional 60 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were 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 owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of Apple 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 transaction, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,884 shares of company stock valued at $23,723,887. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on AAPL. Rosenblatt Securities reissued a “buy” rating and issued a $261.00 price target on shares of Apple in a report on Tuesday, September 10th. Evercore ISI restated an “outperform” rating and issued a $250.00 price objective on shares of Apple in a research note on Monday. The Goldman Sachs Group increased their price objective on shares of Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Oppenheimer restated an “outperform” rating and issued a $250.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Finally, TD Cowen increased their price objective on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $239.17.

Apple Stock Down 2.8 %

Shares of NASDAQ AAPL opened at $216.32 on Tuesday. The firm has a market capitalization of $3.32 trillion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23. The firm’s 50-day moving average is $222.91 and its 200-day moving average is $199.00.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 EPS. Equities analysts expect that Apple Inc. will post 6.7 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

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.