Apple Inc. $AAPL Shares Purchased by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 17.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 18,205 shares of the iPhone maker’s stock after buying an additional 2,640 shares during the period. Apple makes up approximately 1.6% of Raleigh Capital Management Inc.’s holdings, making the stock its 8th biggest holding. Raleigh Capital Management Inc.’s holdings in Apple were worth $3,735,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Ryan Investment Management Inc. acquired a new position in shares of Apple during the second quarter worth about $31,000. ROSS JOHNSON & Associates LLC lifted its stake in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares in the last quarter. LSV Asset Management bought a new stake in Apple in the 4th quarter valued at approximately $65,000. Elite Financial Inc. bought a new stake in Apple in the 1st quarter valued at approximately $58,000. Finally, HFM Investment Advisors LLC acquired a new stake in shares of Apple in the first quarter valued at approximately $99,000. Institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of Apple stock opened at $247.45 on Friday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The company has a 50-day simple moving average of $240.67 and a two-hundred day simple moving average of $216.66. The stock has a market capitalization of $3.67 trillion, a price-to-earnings ratio of 37.55, a price-to-earnings-growth ratio of 2.43 and a beta of 1.09.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same period last year, the firm earned $1.40 EPS. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. Analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio (DPR) is presently 15.78%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AAPL. DA Davidson restated a “neutral” rating and set a $250.00 price objective on shares of Apple in a research note on Thursday, September 11th. Tigress Financial raised their price target on Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 17th. Sanford C. Bernstein assumed coverage on Apple in a research note on Monday, September 15th. They issued an “outperform” rating and a $290.00 price target for the company. Needham & Company LLC reissued a “hold” rating on shares of Apple in a report on Friday, July 25th. Finally, UBS Group reissued a “neutral” rating on shares of Apple in a report on Monday, September 8th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $248.29.

Insider Activity

In related news, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction on 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 sale, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the firm’s 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 transaction, the senior vice president owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,922 shares of company stock valued at $64,320,190. 0.06% of the stock is currently owned by corporate insiders.

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.