M3 Advisory Group LLC Has $3.39 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

M3 Advisory Group LLC lifted its stake in Apple Inc. (NASDAQ:AAPL) by 14.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,088 shares of the iPhone maker’s stock after purchasing an additional 2,081 shares during the quarter. Apple comprises approximately 2.8% of M3 Advisory Group LLC’s holdings, making the stock its 9th largest position. M3 Advisory Group LLC’s holdings in Apple were worth $3,388,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Christopher J. Hasenberg Inc purchased a new stake in shares of Apple in the first quarter worth $35,000. A.P. Gilfoyle & Co. L.P. bought a new position in Apple in the 4th quarter worth about $39,000. University of Texas Texas AM Investment Managment Co. boosted its stake in Apple by 657.1% in the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after purchasing an additional 368 shares in the last quarter. Clarity Asset Management Inc. purchased a new stake in Apple during the 4th quarter valued at about $85,000. Finally, Clear Street Markets LLC increased its stake in Apple by 100.6% during the 4th quarter. Clear Street Markets LLC now owns 483 shares of the iPhone maker’s stock valued at $93,000 after purchasing an additional 83,965 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the topic of several analyst reports. Moffett Nathanson began coverage on shares of Apple in a research note on Monday, August 19th. They issued a “neutral” rating and a $211.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $260.00 target price on shares of Apple in a research note on Thursday. Barclays decreased their price target on Apple from $187.00 to $186.00 and set an “underweight” rating for the company in a research note on Friday, August 2nd. StockNews.com raised Apple from a “hold” rating to a “buy” rating in a report on Friday. Finally, Maxim Group reiterated a “hold” rating and issued a $203.00 price objective on shares of Apple in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $239.17.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. The disclosure for this sale can be found here. Insiders have sold 113,884 shares of company stock valued at $23,723,887 over the last ninety days. 0.06% of the stock is owned by insiders.

Apple Price Performance

Shares of Apple stock opened at $228.20 on Friday. The company has a market capitalization of $3.50 trillion, a price-to-earnings ratio of 35.49, a PEG ratio of 2.62 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The stock’s 50-day simple moving average is $222.41 and its 200-day simple moving average is $199.99. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.23.

Apple (NASDAQ:AAPL) last posted its quarterly 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 analysts’ expectations of $84.43 billion. During the same period in the previous year, the firm earned $1.26 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. As a group, analysts expect that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio is currently 15.55%.

Apple Company 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.