Apple's Stock Ownership Shifts as McDonough Capital Management Acquires New Stake
Apple Inc. (NASDAQ:AAPL) has seen significant changes in its stock ownership over the past few quarters, according to recent disclosures from various institutional investors.
McDonough Capital Management Inc., a prominent investor, acquired a new stake of 178,379 shares in Apple's stock during the second quarter. The acquisition was valued at approximately $21,197,000 and represents about 10.6% of McDonough's portfolio, making it the company's 4th largest holding.
Other investors have also made changes to their holdings of Apple's stock. Sterling Wealth Management Inc. raised its stake by 0.3%, while Evansbrook LLC grew its holding by 0.4%. JMG Financial Group Ltd. increased its investment in Apple by 0.7% and Advocate Investing Services LLC boosted its stake by 0.5%. Interactive Financial Advisors Inc. also increased its holdings of Apple's stock, with a growth rate of 4.0%.
Despite these changes in ownership, the overall market capitalization of Apple remains at $4.98 trillion. The company has a price-to-earnings ratio of 39.11 and a beta of 1.08. Analysts have set an average target price of $340.14 for the stock.