Arkos Global Advisors Grows Stock Position in Apple Inc. (NASDAQ:AAPL)

Arkos Global Advisors raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 15,196 shares of the iPhone maker’s stock after buying an additional 144 shares during the period. Apple comprises about 0.5% of Arkos Global Advisors’ portfolio, making the stock its 22nd largest holding. Arkos Global Advisors’ holdings in Apple were worth $3,201,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of AAPL. Ninepoint Partners LP increased its stake in shares of Apple by 8.9% in the 2nd quarter. Ninepoint Partners LP now owns 6,023 shares of the iPhone maker’s stock valued at $1,269,000 after purchasing an additional 494 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Apple in the 2nd quarter valued at about $25,280,000. Beaird Harris Wealth Management LLC increased its stake in shares of Apple by 6.8% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 23,992 shares of the iPhone maker’s stock valued at $5,053,000 after purchasing an additional 1,521 shares in the last quarter. Smith Thornton Advisors LLC purchased a new position in shares of Apple in the 2nd quarter valued at about $2,303,000. Finally, Savvy Advisors Inc. increased its stake in shares of Apple by 100.3% in the 2nd quarter. Savvy Advisors Inc. now owns 28,562 shares of the iPhone maker’s stock valued at $6,016,000 after purchasing an additional 14,304 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AAPL. Cfra lifted their price target on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Tigress Financial lifted their price objective on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Raymond James lifted their price objective on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $265.00 price objective on shares of Apple in a report on Tuesday, September 10th. Finally, Evercore ISI reiterated a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.51.

Apple Stock Up 0.4 %

Shares of NASDAQ AAPL opened at $225.12 on Thursday. The firm has a market cap of $3.40 trillion, a price-to-earnings ratio of 37.03, a PEG ratio of 2.20 and a beta of 1.24. 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 52-week low of $164.07 and a 52-week high of $237.49. The business’s 50 day moving average is $226.75 and its two-hundred day moving average is $215.45.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the previous year, the company earned $1.46 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. Research analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Katherine L. Adams sold 61,019 shares of the company’s 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 sale, the senior vice president now owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 404,040 shares of company stock valued at $91,062,512. 0.06% of the stock is currently owned by company insiders.

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.