Accuvest Global Advisors Has $4.41 Million Stake in Apple Inc. $AAPL

Accuvest Global Advisors increased its position in Apple Inc. (NASDAQ:AAPL) by 14.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,485 shares of the iPhone maker’s stock after purchasing an additional 2,687 shares during the period. Apple makes up 2.9% of Accuvest Global Advisors’ investment portfolio, making the stock its 11th largest holding. Accuvest Global Advisors’ holdings in Apple were worth $4,408,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Baker Boyer National Bank raised its holdings in shares of Apple by 0.3% in the 2nd quarter. Baker Boyer National Bank now owns 18,011 shares of the iPhone maker’s stock worth $3,695,000 after acquiring an additional 47 shares during the last quarter. Salus Financial Advisors LLC increased its holdings in Apple by 3.9% during the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after purchasing an additional 49 shares in the last quarter. Red Tortoise LLC raised its stake in shares of Apple by 0.9% in the second quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock worth $1,173,000 after purchasing an additional 49 shares during the last quarter. SigFig Wealth Management LLC lifted its holdings in shares of Apple by 2.8% in the second quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock valued at $368,000 after purchasing an additional 50 shares in the last quarter. Finally, Shariaportfolio Inc. boosted its position in shares of Apple by 1.3% during the second quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock valued at $820,000 after buying an additional 50 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AAPL shares. The Goldman Sachs Group reissued a “buy” rating on shares of Apple in a research report on Wednesday. Sanford C. Bernstein set a $325.00 target price on shares of Apple in a report on Monday, November 3rd. DA Davidson raised their price target on shares of Apple from $250.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Moffett Nathanson raised shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 price objective for the company in a research report on Thursday, September 4th. Finally, Cowen reiterated a “buy” rating on shares of Apple in a research note on Monday, October 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.53.

Insider Activity at Apple

In other Apple news, SVP Deirdre O’brien sold 43,013 shares of Apple stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at $35,181,866.93. The trade was a 23.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevan Parekh sold 4,199 shares of the company’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the sale, the chief financial officer owned 8,765 shares in the company, valued at approximately $2,168,373.35. This represents a 32.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 228,052 shares of company stock worth $58,604,588 in the last 90 days. 0.06% of the stock is owned by company insiders.

Apple Price Performance

AAPL opened at $286.19 on Wednesday. The firm has a 50-day moving average price of $264.45 and a 200-day moving average price of $232.89. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $287.40. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $4.23 trillion, a price-to-earnings ratio of 38.31, a PEG ratio of 2.64 and a beta of 1.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. Apple had a net margin of 26.92% and a return on equity of 164.05%. The company had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. During the same period in the prior year, the company posted $1.64 EPS. Apple’s revenue was up 8.7% compared to the same quarter last year. Equities analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were given a $0.26 dividend. The ex-dividend date was Monday, November 10th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s payout ratio is 13.92%.

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.