PFS Partners LLC Purchases 1,713 Shares of Apple Inc. $AAPL

PFS Partners LLC increased its position in Apple Inc. (NASDAQ:AAPL) by 26.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,154 shares of the iPhone maker’s stock after purchasing an additional 1,713 shares during the quarter. Apple makes up about 0.8% of PFS Partners LLC’s portfolio, making the stock its 20th biggest position. PFS Partners LLC’s holdings in Apple were worth $1,673,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. True North Advisors LLC grew its stake in Apple by 2.8% in the second quarter. True North Advisors LLC now owns 111,335 shares of the iPhone maker’s stock worth $22,843,000 after purchasing an additional 2,982 shares in the last quarter. GenWealth Group Inc. boosted its position in Apple by 3.0% during the 2nd quarter. GenWealth Group Inc. now owns 10,939 shares of the iPhone maker’s stock valued at $2,244,000 after acquiring an additional 323 shares in the last quarter. Arkansas Financial Group Inc. boosted its position in Apple by 30.9% during the 2nd quarter. Arkansas Financial Group Inc. now owns 8,465 shares of the iPhone maker’s stock valued at $1,778,000 after acquiring an additional 2,000 shares in the last quarter. Destiny Wealth Partners LLC boosted its position in Apple by 10.5% during the 2nd quarter. Destiny Wealth Partners LLC now owns 78,984 shares of the iPhone maker’s stock valued at $16,205,000 after acquiring an additional 7,498 shares in the last quarter. Finally, ST Germain D J Co. Inc. boosted its position in Apple by 7.7% during the 2nd quarter. ST Germain D J Co. Inc. now owns 473,126 shares of the iPhone maker’s stock valued at $97,071,000 after acquiring an additional 33,937 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $245.27 on Friday. The stock has a 50-day simple moving average of $237.61 and a two-hundred day simple moving average of $215.92. The firm has a market capitalization of $3.64 trillion, a P/E ratio of 37.22, a PEG ratio of 2.47 and a beta of 1.09. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $1.40 EPS. On average, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple’s payout ratio is currently 15.78%.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the transaction, the senior vice president owned 179,158 shares in the company, valued at $46,005,982.82. The trade was a 20.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the transaction, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,922 shares of company stock worth $64,320,190 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several recent research reports. Citigroup reaffirmed a “buy” rating on shares of Apple in a research report on Wednesday, September 10th. CLSA raised Apple to a “strong-buy” rating in a research report on Sunday, October 5th. Seaport Res Ptn raised Apple to a “strong-buy” rating in a research report on Wednesday, October 1st. Bank of America increased their target price on Apple from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Finally, Melius Research set a $290.00 price objective on Apple and gave the company a “buy” rating in a report on Wednesday, September 10th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $248.29.

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.