Apple Inc. (NASDAQ:AAPL) is ABLE Financial Group LLC’s 6th Largest Position

ABLE Financial Group LLC raised its holdings in Apple Inc. (NASDAQ:AAPL) by 1.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 43,639 shares of the iPhone maker’s stock after buying an additional 460 shares during the quarter. Apple accounts for about 3.3% of ABLE Financial Group LLC’s investment portfolio, making the stock its 6th largest holding. ABLE Financial Group LLC’s holdings in Apple were worth $9,191,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the business. Yeomans Consulting Group Inc. bought a new position in Apple in the 4th quarter worth $1,713,000. Raleigh Capital Management Inc. boosted its stake in shares of Apple by 11.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after purchasing an additional 1,643 shares in the last quarter. GLOBALT Investments LLC GA purchased a new position in shares of Apple during the fourth quarter valued at about $38,406,000. Barden Capital Management Inc. raised its stake in Apple by 132.8% in the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after buying an additional 18,615 shares in the last quarter. Finally, Sunpointe LLC purchased a new stake in Apple in the fourth quarter worth about $4,782,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The disclosure for this sale can be found here. Insiders have sold 458,619 shares of company stock worth $101,352,630 in the last quarter. Company insiders own 0.06% of the company’s stock.

Apple Trading Down 0.5 %

Shares of AAPL stock opened at $225.67 on Friday. The stock has a market capitalization of $3.46 trillion, a P/E ratio of 35.10, a P/E/G ratio of 2.66 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. The firm’s 50 day moving average is $222.72 and its 200 day moving average is $203.50. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23.

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

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is currently 15.55%.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $260.00 target price on shares of Apple in a report on Thursday, September 19th. Raymond James upped their price target on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Maxim Group reissued a “hold” rating and set a $203.00 price objective on shares of Apple in a research report on Tuesday, September 10th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 target price on shares of Apple in a research report on Tuesday, September 10th. Finally, Barclays reiterated an “underweight” rating and issued a $186.00 price target on shares of Apple in a research note on Tuesday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $238.76.

Apple Company 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.