Apple Inc. (NASDAQ:AAPL) Shares Acquired by McClarren Financial Advisors Inc.

McClarren Financial Advisors Inc. boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 249.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 18,404 shares of the iPhone maker’s stock after buying an additional 13,139 shares during the quarter. Apple accounts for 2.3% of McClarren Financial Advisors Inc.’s holdings, making the stock its 9th largest position. McClarren Financial Advisors Inc.’s holdings in Apple were worth $4,288,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Hershey Financial Advisers LLC purchased a new stake in shares of Apple in the 2nd quarter valued at approximately $42,000. Christopher J. Hasenberg Inc raised its stake in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the period. Cordant Inc. lifted its holdings in shares of Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after purchasing an additional 173 shares in the last quarter. Hoese & Co LLP boosted its position in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares during the period. Finally, Sage Financial Group Inc. purchased a new position in shares of Apple during the second quarter valued at $206,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AAPL shares. Bank of America increased their price objective on Apple to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. New Street Research restated a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. Wedbush reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Apple in a research report on Friday, November 29th. Tigress Financial increased their target price on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $236.78.

Apple Price Performance

NASDAQ AAPL opened at $248.13 on Friday. The stock has a 50-day simple moving average of $232.50 and a 200 day simple moving average of $223.64. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $250.80. The stock has a market capitalization of $3.75 trillion, a PE ratio of 40.81, a P/E/G ratio of 2.41 and a beta of 1.23. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the previous year, the business posted $1.46 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Insider Buying and Selling at Apple

In related news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction on 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 in the company, valued at $42,309,126.60. This represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock valued at $92,007,745 in the last ninety days. Company insiders own 0.06% of the company’s stock.

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.