Apple Inc. (NASDAQ:AAPL) Holdings Lifted by Atomi Financial Group Inc.

Atomi Financial Group Inc. lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 16.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 252,409 shares of the iPhone maker’s stock after buying an additional 36,507 shares during the quarter. Apple makes up 3.9% of Atomi Financial Group Inc.’s investment portfolio, making the stock its 2nd largest position. Atomi Financial Group Inc.’s holdings in Apple were worth $53,162,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AAPL. Granite Harbor Advisors Inc. grew its position in shares of Apple by 2.3% in the second quarter. Granite Harbor Advisors Inc. now owns 27,609 shares of the iPhone maker’s stock valued at $5,815,000 after purchasing an additional 630 shares during the period. Riverpark Capital Management LLC boosted its stake in Apple by 4.0% in the 2nd quarter. Riverpark Capital Management LLC now owns 16,823 shares of the iPhone maker’s stock worth $3,543,000 after buying an additional 647 shares during the last quarter. Sequent Asset Management LLC purchased a new stake in Apple in the 2nd quarter valued at about $214,000. GAM Holding AG increased its stake in shares of Apple by 86.8% during the 2nd quarter. GAM Holding AG now owns 162,234 shares of the iPhone maker’s stock valued at $34,170,000 after acquiring an additional 75,378 shares during the last quarter. Finally, AlphaStar Capital Management LLC lifted its holdings in shares of Apple by 8.3% during the 2nd quarter. AlphaStar Capital Management LLC now owns 91,138 shares of the iPhone maker’s stock worth $19,195,000 after acquiring an additional 6,972 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. KeyCorp restated a “hold” rating and issued a $247.61 target price on shares of Apple in a report on Wednesday, August 28th. Tigress Financial upped their price objective on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Piper Sandler Companies reiterated a “neutral” rating and issued a $225.00 target price (up previously from $190.00) on shares of Apple in a report on Tuesday, July 9th. Cfra boosted their price target on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, TD Cowen raised their price objective on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $238.76.

Apple Stock Performance

Shares of AAPL stock opened at $225.67 on Friday. The stock has a market capitalization of $3.46 trillion, a price-to-earnings ratio of 35.10, a PEG ratio of 2.66 and a beta of 1.24. Apple Inc. has a one year low of $164.07 and a one year high of $237.23. The company’s 50-day simple moving average is $222.72 and its 200-day simple moving average is $203.50. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter last year, the business posted $1.26 EPS. Apple’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced 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 was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s payout ratio is 15.55%.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction 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 transaction, 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. Over the last three months, insiders have sold 458,619 shares of company stock valued at $101,352,630. Company insiders own 0.06% of the company’s stock.

Apple 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.