Altus Wealth Group LLC Has $6.48 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Altus Wealth Group LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,742 shares of the iPhone maker’s stock after purchasing an additional 291 shares during the period. Apple makes up 3.2% of Altus Wealth Group LLC’s 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 institutional investors and hedge funds have also modified their holdings of the company. Blue Bell Private Wealth Management LLC increased its holdings in Apple by 0.5% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 19,646 shares of the iPhone maker’s stock worth $4,138,000 after purchasing an additional 94 shares in the last quarter. LGT Financial Advisors LLC grew its holdings in shares of Apple by 1.7% during the second quarter. LGT Financial Advisors LLC now owns 7,616 shares of the iPhone maker’s stock worth $1,604,000 after buying an additional 129 shares in the last quarter. MCF Advisors LLC raised its position in Apple by 0.6% in the 2nd quarter. MCF Advisors LLC now owns 90,820 shares of the iPhone maker’s stock valued at $19,128,000 after buying an additional 499 shares during the last quarter. Peterson Wealth Management lifted its stake in Apple by 1.6% in the 2nd quarter. Peterson Wealth Management now owns 23,892 shares of the iPhone maker’s stock valued at $5,032,000 after acquiring an additional 379 shares in the last quarter. Finally, N.E.W. Advisory Services LLC boosted its position in Apple by 3.3% during the 2nd quarter. N.E.W. Advisory Services LLC now owns 70,515 shares of the iPhone maker’s stock worth $14,852,000 after acquiring an additional 2,220 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on AAPL. Raymond James boosted their price objective 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. Morgan Stanley reissued an “overweight” rating and set a $273.00 price target on shares of Apple in a research report on Tuesday, September 10th. Cfra raised their price objective on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Bank of America reiterated a “buy” rating and set a $256.00 target price on shares of Apple in a report on Thursday, October 3rd. Finally, New Street Research restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $239.27.

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the firm’s 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 transaction, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Apple news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. 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. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 1.2 %

AAPL stock opened at $235.00 on Monday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The company’s 50-day simple moving average is $225.78 and its 200 day simple moving average is $208.38. The company has a market capitalization 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 announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same quarter in the prior year, the business posted $1.26 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

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