Mach 1 Financial Group LLC Increases Holdings in Apple Inc. (NASDAQ:AAPL)

Mach 1 Financial Group LLC boosted its position in Apple Inc. (NASDAQ:AAPL) by 9.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,320 shares of the iPhone maker’s stock after buying an additional 1,158 shares during the quarter. Apple makes up approximately 1.9% of Mach 1 Financial Group LLC’s portfolio, making the stock its 18th biggest position. Mach 1 Financial Group LLC’s holdings in Apple were worth $3,104,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Bull Oak Capital LLC increased its stake in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after buying an additional 111 shares during the period. Hershey Financial Advisers LLC bought a new stake in Apple in the second quarter valued at $42,000. Christopher J. Hasenberg Inc increased its position in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the period. ARK Investment Management LLC bought a new position in Apple in the 3rd quarter worth $110,000. Finally, Cordant Inc. lifted its position in shares of Apple by 34.3% in the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after purchasing an additional 173 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Down 4.0 %

NASDAQ AAPL opened at $228.26 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The business has a 50 day moving average price of $240.93 and a two-hundred day moving average price of $230.57. The stock has a market cap of $3.45 trillion, a PE ratio of 37.54, a P/E/G ratio of 2.32 and a beta of 1.20.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.46 EPS. As a group, sell-side analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is 16.45%.

Analyst Ratings Changes

Several research firms have weighed in on AAPL. Maxim Group lifted their price objective on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research report on Friday, October 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Apple in a research note on Tuesday, December 10th. Citigroup raised their price objective on Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Wedbush upped their target price on shares of Apple from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, December 26th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $239.85.

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.