Mach 1 Financial Group LLC Has $3.10 Million Stake in Apple Inc. (NASDAQ:AAPL)

Mach 1 Financial Group LLC raised its position in shares of Apple Inc. (NASDAQ:AAPL) by 9.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 13,320 shares of the iPhone maker’s stock after acquiring an additional 1,158 shares during the period. Apple accounts for 1.9% of Mach 1 Financial Group LLC’s investment portfolio, making the stock its 18th biggest position. Mach 1 Financial Group LLC’s holdings in Apple were worth $3,104,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Bull Oak Capital LLC grew its stake in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares in the last quarter. Hershey Financial Advisers LLC acquired a new stake in shares of Apple during the 2nd quarter valued at about $42,000. Christopher J. Hasenberg Inc lifted its holdings in shares of 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 buying an additional 144 shares during the last quarter. ARK Investment Management LLC bought a new stake in shares of Apple in the 3rd quarter valued at approximately $110,000. Finally, Cordant Inc. increased its holdings in Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after buying an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $228.26 on Friday. The firm has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 37.54, a PEG ratio of 2.32 and a beta of 1.20. The stock has a fifty day moving average of $240.93 and a 200 day moving average of $230.57. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating 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 business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the previous year, the firm posted $1.46 EPS. The business’s revenue was up 6.1% on a year-over-year basis. As a group, research analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is 16.45%.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of recent research reports. Citigroup raised their price target on shares of Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company raised their target price on Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. New Street Research reiterated a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Bank of America reissued a “buy” rating and set a $256.00 price objective on shares of Apple in a report on Friday, January 3rd. Finally, Evercore ISI restated a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Thursday, September 26th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $239.85.

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.