Apple Inc. (NASDAQ:AAPL) Shares Acquired by Archer Investment Corp

Archer Investment Corp boosted its position in Apple Inc. (NASDAQ:AAPL) by 0.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,913 shares of the iPhone maker’s stock after acquiring an additional 82 shares during the quarter. Apple accounts for about 2.0% of Archer Investment Corp’s holdings, making the stock its 6th biggest holding. Archer Investment Corp’s holdings in Apple were worth $6,721,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. Founders Financial Securities LLC raised its stake in Apple by 19.6% in the second quarter. Founders Financial Securities LLC now owns 90,731 shares of the iPhone maker’s stock valued at $19,110,000 after buying an additional 14,870 shares in the last quarter. Regal Partners Ltd purchased a new position in shares of Apple in the 2nd quarter valued at about $864,000. Oxinas Partners Wealth Management LLC raised its position in shares of Apple by 0.7% during the 2nd quarter. Oxinas Partners Wealth Management LLC now owns 36,186 shares of the iPhone maker’s stock worth $7,621,000 after acquiring an additional 247 shares in the last quarter. Octavia Wealth Advisors LLC lifted its stake in Apple by 2.3% during the second quarter. Octavia Wealth Advisors LLC now owns 211,477 shares of the iPhone maker’s stock worth $44,541,000 after purchasing an additional 4,673 shares during the last quarter. Finally, Northstar Advisory Group LLC boosted its holdings in Apple by 47.6% in the second quarter. Northstar Advisory Group LLC now owns 40,602 shares of the iPhone maker’s stock valued at $8,552,000 after purchasing an additional 13,100 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Trading Up 0.2 %

NASDAQ:AAPL opened at $232.15 on Friday. The stock has a market capitalization of $3.56 trillion, a price-to-earnings ratio of 36.10, a PEG ratio of 2.40 and a beta of 1.24. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The stock has a fifty day moving average price of $225.41 and a two-hundred day moving average price of $207.39. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter last year, the business earned $1.26 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is currently 15.55%.

Analyst Ratings Changes

A number of analysts have weighed in on AAPL shares. Evercore ISI reissued a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Raymond James boosted their price target on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Citigroup reaffirmed a “buy” rating and set a $255.00 price objective on shares of Apple in a report on Wednesday, October 2nd. Melius Research reissued a “buy” rating and issued a $265.00 target price on shares of Apple in a report on Tuesday, August 27th. Finally, Piper Sandler reissued a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.27.

Insider Buying and Selling

In other news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is owned by insiders.

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.