Altus Wealth Group LLC Grows Stock Position in Apple Inc. (NASDAQ:AAPL)

Altus Wealth Group LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 1.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 30,742 shares of the iPhone maker’s stock after buying an additional 291 shares during the period. Apple makes up 3.2% of Altus Wealth Group LLC’s investment portfolio, making the stock its 6th biggest position. Altus Wealth Group LLC’s holdings in Apple were worth $6,475,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fidelis Capital Partners LLC boosted its position in Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after acquiring an additional 31,278 shares during the last quarter. Access Investment Management LLC acquired a new position in shares of Apple in the 1st quarter valued at about $140,000. Hoese & Co LLP boosted its position in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares in the last quarter. Sage Financial Group Inc. acquired a new stake in Apple during the second quarter worth approximately $206,000. Finally, Benchmark Wealth Management LLC bought a new stake in Apple in the second quarter worth approximately $208,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. The trade was 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. In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock valued at $114,786,399 in the last three months. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AAPL. Rosenblatt Securities restated a “buy” rating and set a $261.00 price target on shares of Apple in a report on Tuesday, September 10th. TD Cowen increased their target price on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $245.00 price target on shares of Apple in a research note on Monday, September 9th. Citigroup reiterated a “buy” rating and set a $255.00 price objective on shares of Apple in a report on Wednesday, October 2nd. Finally, Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. One investment 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 stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $239.27.

Apple Stock Performance

Shares of Apple stock opened at $235.00 on Monday. The business’s fifty day simple moving average is $225.78 and its 200 day simple moving average is $208.38. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The firm has a market capitalization of $3.60 trillion, a P/E ratio of 36.55, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24.

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. The company 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 business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.26 EPS. As a group, analysts anticipate that Apple Inc. will post 6.65 EPS for the current year.

Apple Dividend Announcement

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

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.