Verde Capital Management Acquires 2,037 Shares of Apple Inc. (NASDAQ:AAPL)

Verde Capital Management raised its position in Apple Inc. (NASDAQ:AAPL) by 134.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,552 shares of the iPhone maker’s stock after purchasing an additional 2,037 shares during the period. Verde Capital Management’s holdings in Apple were worth $748,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of AAPL. Yeomans Consulting Group Inc. bought a new stake in shares of Apple during the fourth quarter worth $1,713,000. Raleigh Capital Management Inc. boosted its holdings in Apple by 11.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock worth $2,986,000 after purchasing an additional 1,643 shares during the last quarter. GLOBALT Investments LLC GA acquired a new position in Apple during the fourth quarter worth $38,406,000. Barden Capital Management Inc. boosted its holdings in Apple by 132.8% during the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after purchasing an additional 18,615 shares during the last quarter. Finally, Sunpointe LLC acquired a new position in Apple during the fourth quarter worth $4,782,000. Institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $222.50 on Friday. The firm has a market capitalization of $3.38 trillion, a P/E ratio of 34.60, a P/E/G ratio of 2.62 and a beta of 1.24. The company has a fifty day moving average of $223.14 and a 200-day moving average of $198.63. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion during 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%. Apple’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.26 EPS. As a group, sell-side analysts anticipate that Apple Inc. will post 6.7 EPS for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AAPL shares. Evercore ISI reiterated an “outperform” rating and issued a $250.00 price target on shares of Apple in a research note on Tuesday, August 27th. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research report on Thursday. The Goldman Sachs Group raised their price target on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Melius Research reaffirmed a “buy” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, August 27th. Finally, Raymond James raised their price target on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.62.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction 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 $39,542,136.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is owned by corporate insiders.

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.