Mach 1 Financial Group LLC Has $3.62 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Mach 1 Financial Group LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 63.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,668 shares of the iPhone maker’s stock after purchasing an additional 7,253 shares during the period. Apple comprises about 1.0% of Mach 1 Financial Group LLC’s investment portfolio, making the stock its 16th biggest position. Mach 1 Financial Group LLC’s holdings in Apple were worth $3,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. AEGON ASSET MANAGEMENT UK Plc grew its position in Apple by 3.7% during the second quarter. AEGON ASSET MANAGEMENT UK Plc now owns 2,939,947 shares of the iPhone maker’s stock worth $569,703,000 after buying an additional 103,895 shares in the last quarter. Cresta Advisors Ltd. increased its stake in Apple by 5.0% during the second quarter. Cresta Advisors Ltd. now owns 37,490 shares of the iPhone maker’s stock valued at $7,272,000 after acquiring an additional 1,777 shares during the period. Peoples Bank OH increased its stake in Apple by 1.7% during the second quarter. Peoples Bank OH now owns 31,394 shares of the iPhone maker’s stock valued at $6,089,000 after acquiring an additional 531 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. increased its stake in Apple by 2.8% during the second quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 177,666 shares of the iPhone maker’s stock valued at $34,462,000 after acquiring an additional 4,890 shares during the period. Finally, Selway Asset Management increased its stake in Apple by 0.8% during the second quarter. Selway Asset Management now owns 142,694 shares of the iPhone maker’s stock valued at $27,678,000 after acquiring an additional 1,076 shares during the period. Institutional investors own 58.51% of the company’s stock.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 65,536 shares of the company’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total value of $11,279,400.96. Following the completion of the transaction, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at approximately $23,483,548.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, COO Jeffrey E. Williams sold 69,785 shares of the company’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $177.00, for a total value of $12,351,945.00. Following the completion of the transaction, the chief operating officer now directly owns 489,817 shares of the company’s stock, valued at approximately $86,697,609. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Deirdre O’brien sold 65,536 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the completion of the transaction, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at $23,483,548.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 439,585 shares of company stock valued at $76,485,550. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

AAPL stock opened at $182.41 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.99 and a quick ratio of 0.94. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $198.23. The company has a 50 day moving average price of $176.54 and a 200 day moving average price of $179.80. The stock has a market capitalization of $2.84 trillion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 2.51 and a beta of 1.30.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.07. Apple had a net margin of 25.31% and a return on equity of 160.78%. The business had revenue of $89.50 billion during the quarter, compared to analysts’ expectations of $89.34 billion. During the same quarter in the prior year, the company earned $1.29 EPS. The firm’s quarterly revenue was down .7% on a year-over-year basis. Analysts forecast that Apple Inc. will post 6.54 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Monday, November 13th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Friday, November 10th. Apple’s payout ratio is presently 15.69%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AAPL shares. StockNews.com started coverage on Apple in a research note on Thursday, October 5th. They set a “hold” rating on the stock. UBS Group restated a “neutral” rating and set a $190.00 price target on shares of Apple in a research note on Wednesday, September 27th. Jefferies Financial Group lowered their price target on Apple from $220.00 to $195.00 and set a “buy” rating on the stock in a research note on Tuesday, October 31st. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $195.00 price objective on shares of Apple in a report on Monday, October 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $210.00 price objective on shares of Apple in a report on Friday, November 3rd. Ten research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $197.82.

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.