Matrix Private Capital Group LLC Raises Holdings in Apple Inc. (NASDAQ:AAPL)

Matrix Private Capital Group LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,312 shares of the iPhone maker’s stock after buying an additional 299 shares during the quarter. Apple accounts for approximately 2.2% of Matrix Private Capital Group LLC’s holdings, making the stock its 10th biggest holding. Matrix Private Capital Group LLC’s holdings in Apple were worth $3,436,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AAPL. True Link Financial Advisors LLC boosted its holdings in shares of Apple by 7.1% in the 1st quarter. True Link Financial Advisors LLC now owns 4,074 shares of the iPhone maker’s stock worth $699,000 after acquiring an additional 269 shares in the last quarter. United Capital Management of KS Inc. increased its position in Apple by 2.0% in the 1st quarter. United Capital Management of KS Inc. now owns 90,808 shares of the iPhone maker’s stock valued at $15,572,000 after acquiring an additional 1,790 shares in the last quarter. Red Tortoise LLC lifted its position in shares of Apple by 1.5% during the first quarter. Red Tortoise LLC now owns 5,428 shares of the iPhone maker’s stock worth $931,000 after purchasing an additional 79 shares in the last quarter. Meadow Creek Wealth Advisors LLC grew its stake in shares of Apple by 60.5% during the first quarter. Meadow Creek Wealth Advisors LLC now owns 28,368 shares of the iPhone maker’s stock valued at $4,865,000 after purchasing an additional 10,691 shares during the last quarter. Finally, Wiser Wealth Management Inc raised its position in Apple by 5.2% in the 1st quarter. Wiser Wealth Management Inc now owns 9,549 shares of the iPhone maker’s stock worth $1,637,000 after purchasing an additional 476 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity at Apple

In other news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now owns 107,788 shares in the company, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 404,040 shares of company stock valued at $91,062,512 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $225.12 on Thursday. The stock’s fifty day moving average price is $226.75 and its two-hundred day moving average price is $215.45. The firm has a market cap of $3.40 trillion, a price-to-earnings ratio of 37.03, a P/E/G ratio of 2.20 and a beta of 1.24. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.46 EPS. On average, equities analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Analysts Set New Price Targets

AAPL has been the subject of a number of recent research reports. Raymond James boosted their target price on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Monness Crespi & Hardt restated a “buy” rating and issued a $245.00 price target on shares of Apple in a research report on Monday, September 9th. Robert W. Baird upped their price target on Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Piper Sandler reiterated a “neutral” rating and set a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Finally, Rosenblatt Securities boosted their price objective on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.51.

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.