Marmo Financial Group LLC Buys 58 Shares of Apple Inc. $AAPL

Marmo Financial Group LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,977 shares of the iPhone maker’s stock after acquiring an additional 58 shares during the quarter. Apple comprises about 0.2% of Marmo Financial Group LLC’s investment portfolio, making the stock its 22nd biggest position. Marmo Financial Group LLC’s holdings in Apple were worth $406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Burkett Financial Services LLC increased its stake in Apple by 0.6% during the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after acquiring an additional 93 shares during the last quarter. Avid Wealth Partners LLC boosted its position in shares of Apple by 28.3% during the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after buying an additional 930 shares during the period. Bell & Brown Wealth Advisors LLC boosted its position in shares of Apple by 0.4% during the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after buying an additional 240 shares during the period. American National Bank & Trust boosted its position in shares of Apple by 2.4% during the second quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock valued at $40,107,000 after buying an additional 4,543 shares during the period. Finally, Andina Capital Management LLC boosted its position in shares of Apple by 209.2% during the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock valued at $1,507,000 after buying an additional 4,591 shares during the period. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AAPL has been the subject of several recent analyst reports. Melius Research set a $290.00 target price on Apple and gave the company a “buy” rating in a research report on Wednesday, September 10th. Wedbush set a $310.00 target price on Apple and gave the company an “outperform” rating in a research report on Monday, September 22nd. Needham & Company LLC restated a “hold” rating on shares of Apple in a research report on Friday, July 25th. Sanford C. Bernstein initiated coverage on Apple in a report on Monday, September 15th. They issued an “outperform” rating and a $290.00 price target for the company. Finally, Rosenblatt Securities boosted their price target on Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a report on Wednesday, September 10th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $248.29.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $245.27 on Monday. The company has a market capitalization of $3.64 trillion, a price-to-earnings ratio of 37.22, a price-to-earnings-growth ratio of 2.39 and a beta of 1.09. Apple Inc. has a 52 week low of $169.21 and a 52 week 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 firm has a 50 day moving average of $237.61 and a 200 day moving average of $215.83.

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

Apple Dividend Announcement

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

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were 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 of the company’s stock, valued at $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the transaction, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,922 shares of company stock valued at $64,320,190 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

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.