Frisch Financial Group Inc. Purchases 1,511 Shares of Apple Inc. (NASDAQ:AAPL)

Frisch Financial Group Inc. raised its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,399 shares of the iPhone maker’s stock after purchasing an additional 1,511 shares during the period. Apple accounts for approximately 5.5% of Frisch Financial Group Inc.’s holdings, making the stock its 4th biggest position. Frisch Financial Group Inc.’s holdings in Apple were worth $18,197,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Access Investment Management LLC bought a new stake in shares of Apple in the 1st quarter worth approximately $140,000. Hoese & Co LLP boosted its holdings in Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares in the last quarter. Sage Financial Group Inc. acquired a new position in Apple in the second quarter worth approximately $206,000. Benchmark Wealth Management LLC bought a new position in shares of Apple in the second quarter valued at $208,000. Finally, Sequent Asset Management LLC acquired a new stake in shares of Apple during the 2nd quarter valued at $214,000. Institutional investors own 60.41% of the company’s stock.

Apple Stock Down 0.4 %

AAPL stock opened at $222.01 on Tuesday. 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 1 year low of $164.07 and a 1 year high of $237.49. The company has a fifty day simple moving average of $227.07 and a 200 day simple moving average of $213.03. The firm has a market cap of $3.38 trillion, a PE ratio of 36.51, a PEG ratio of 2.41 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 145.09%. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period in the previous year, the business earned $1.46 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 7.48 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s dividend payout ratio (DPR) is 16.45%.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Apple in a research note on Friday. Bank of America reaffirmed a “buy” rating and issued a $256.00 target price on shares of Apple in a research report on Thursday, October 3rd. Piper Sandler Companies reissued a “neutral” rating and set a $225.00 price target (up from $190.00) on shares of Apple in a research report on Tuesday, July 9th. TD Cowen raised their price objective on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, UBS Group reiterated a “hold” rating and issued a $236.00 target price on shares of Apple in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $235.51.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This 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 the SEC website. In related news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 417,924 shares of company stock valued at $94,142,399 over the last ninety days. Insiders own 0.06% of the company’s stock.

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.