PFG Investments LLC Has $125.50 Million Stake in Apple Inc. (NASDAQ:AAPL)

PFG Investments LLC boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% in the second quarter, Holdings Channel reports. The firm owned 595,845 shares of the iPhone maker’s stock after purchasing an additional 1,542 shares during the quarter. Apple comprises about 9.0% of PFG Investments LLC’s portfolio, making the stock its biggest holding. PFG Investments LLC’s holdings in Apple were worth $125,497,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bright Rock Capital Management LLC grew its position in Apple by 24.0% during the 1st quarter. Bright Rock Capital Management LLC now owns 62,000 shares of the iPhone maker’s stock worth $10,632,000 after acquiring an additional 12,000 shares during the last quarter. Roble Belko & Company Inc grew its holdings in Apple by 10.4% during the 1st quarter. Roble Belko & Company Inc now owns 3,770 shares of the iPhone maker’s stock worth $646,000 after acquiring an additional 354 shares during the last quarter. Bridge Creek Capital Management LLC increased its position in Apple by 2.0% in the 1st quarter. Bridge Creek Capital Management LLC now owns 64,278 shares of the iPhone maker’s stock valued at $11,022,000 after acquiring an additional 1,278 shares in the last quarter. GenWealth Group Inc. increased its holdings in shares of Apple by 1.1% in the first quarter. GenWealth Group Inc. now owns 10,667 shares of the iPhone maker’s stock valued at $1,829,000 after purchasing an additional 120 shares in the last quarter. Finally, Birch Capital Management LLC increased its stake in shares of Apple by 0.6% in the 1st quarter. Birch Capital Management LLC now owns 72,025 shares of the iPhone maker’s stock valued at $12,351,000 after buying an additional 462 shares during the period. 60.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on AAPL. Melius Research reissued a “buy” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. Wedbush restated an “outperform” rating and set a $285.00 target price on shares of Apple in a research report on Monday, September 9th. Piper Sandler Companies restated a “neutral” rating and set a $225.00 target price (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. Robert W. Baird raised their price objective on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Barclays reiterated an “underweight” rating and set a $186.00 target price on shares of Apple in a report on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.91.

Insider Activity

In related news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction that occurred on 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 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 Apple news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. 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. 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 517,924 shares of company stock worth $114,786,399. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

AAPL opened at $231.41 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The business has a fifty day simple moving average of $226.75 and a 200 day simple moving average of $209.62. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The company has a market capitalization of $3.55 trillion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. Apple’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 EPS. Research analysts expect that Apple Inc. will post 6.65 EPS for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid 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 dividend payout ratio (DPR) is 15.55%.

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.