Sage Financial Group Inc. Invests $206,000 in Apple Inc. (NASDAQ:AAPL)

Sage Financial Group Inc. bought a new position in shares of Apple Inc. (NASDAQ:AAPL) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 977 shares of the iPhone maker’s stock, valued at approximately $206,000.

Other institutional investors also recently modified their holdings of the company. Belpointe Asset Management LLC grew its position in shares of Apple by 1.1% in the 2nd quarter. Belpointe Asset Management LLC now owns 362,722 shares of the iPhone maker’s stock valued at $76,397,000 after purchasing an additional 4,089 shares during the period. Consolidated Planning Corp grew its position in shares of Apple by 3.4% in the 2nd quarter. Consolidated Planning Corp now owns 72,056 shares of the iPhone maker’s stock valued at $15,176,000 after purchasing an additional 2,380 shares during the period. Index Fund Advisors Inc. grew its position in shares of Apple by 6.1% in the 2nd quarter. Index Fund Advisors Inc. now owns 63,655 shares of the iPhone maker’s stock valued at $13,407,000 after purchasing an additional 3,633 shares during the period. Larson Financial Group LLC grew its position in shares of Apple by 62.0% in the 2nd quarter. Larson Financial Group LLC now owns 151,991 shares of the iPhone maker’s stock valued at $32,012,000 after purchasing an additional 58,153 shares during the period. Finally, Wealth Effects LLC grew its position in shares of Apple by 3.0% in the 2nd quarter. Wealth Effects LLC now owns 91,951 shares of the iPhone maker’s stock valued at $19,367,000 after purchasing an additional 2,681 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AAPL. Moffett Nathanson began coverage on Apple in a research report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price objective for the company. Tigress Financial boosted their price objective on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Citigroup reiterated a “buy” rating and issued a $255.00 price objective on shares of Apple in a research report on Wednesday, October 2nd. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 price target on shares of Apple in a research report on Monday, September 9th. Finally, Raymond James upped their price target on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $239.27.

Insiders Place Their Bets

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 transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 transaction 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 approximately $39,542,136.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on Wednesday, October 2nd. The stock was 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 in the company, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 517,924 shares of company stock worth $114,786,399 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple Stock Up 1.2 %

AAPL opened at $235.00 on Friday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The stock’s fifty day simple moving average is $225.78 and its 200 day simple moving average is $207.84. 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 stock has a market cap of $3.60 trillion, a PE ratio of 36.55, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.26 EPS. As a group, research analysts expect that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is 15.55%.

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.