Pacific Financial Group Inc. Acquires 97 Shares of Apple Inc. (NASDAQ:AAPL)

Pacific Financial Group Inc. increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 8.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,309 shares of the iPhone maker’s stock after purchasing an additional 97 shares during the period. Pacific Financial Group Inc.’s holdings in Apple were worth $276,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Davis Capital Management lifted its stake in Apple by 1.4% in the 1st quarter. Davis Capital Management now owns 14,679 shares of the iPhone maker’s stock valued at $2,496,000 after acquiring an additional 203 shares in the last quarter. Insight Wealth Strategies LLC lifted its stake in Apple by 43.4% in the 1st quarter. Insight Wealth Strategies LLC now owns 60,185 shares of the iPhone maker’s stock valued at $10,320,000 after acquiring an additional 18,224 shares in the last quarter. Somerset Trust Co lifted its stake in Apple by 0.9% in the 1st quarter. Somerset Trust Co now owns 55,827 shares of the iPhone maker’s stock valued at $9,573,000 after acquiring an additional 471 shares in the last quarter. Prism Advisors Inc. lifted its stake in Apple by 12.7% in the 1st quarter. Prism Advisors Inc. now owns 6,143 shares of the iPhone maker’s stock valued at $1,053,000 after acquiring an additional 693 shares in the last quarter. Finally, Hilltop Wealth Advisors LLC bought a new stake in Apple in the 1st quarter valued at approximately $686,000. Institutional investors own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several research reports. Raymond James boosted their target price on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. The Goldman Sachs Group boosted their price target on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Moffett Nathanson started coverage on Apple in a research report on Monday, August 19th. They set a “neutral” rating and a $211.00 price target on the stock. Barclays reaffirmed an “underweight” rating and set a $186.00 price target on shares of Apple in a research report on Tuesday, October 1st. Finally, Bank of America reaffirmed a “buy” rating and set a $256.00 price target on shares of Apple in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $239.27.

Apple Price Performance

Shares of AAPL stock opened at $235.00 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The company has a market cap of $3.60 trillion, a P/E ratio of 36.55, a P/E/G ratio of 2.40 and a beta of 1.24. The business has a fifty day simple moving average of $225.78 and a 200 day simple moving average of $207.84.

Apple (NASDAQ:AAPL) last issued 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 return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, sell-side analysts forecast that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced 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 of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. Apple’s payout ratio is presently 15.55%.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 517,924 shares of company stock valued at $114,786,399 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

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.