MRA Advisory Group Buys 2,771 Shares of Apple Inc. (NASDAQ:AAPL)

MRA Advisory Group increased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 14.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,619 shares of the iPhone maker's stock after purchasing an additional 2,771 shares during the period. Apple makes up about 2.9% of MRA Advisory Group's holdings, making the stock its 11th biggest position. MRA Advisory Group's holdings in Apple were worth $5,270,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AAPL. Granite Investment Partners LLC grew its stake in Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker's stock valued at $60,958,000 after acquiring an additional 7,606 shares during the period. Truist Financial Corp grew its stake in Apple by 1.8% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker's stock valued at $1,473,224,000 after acquiring an additional 126,210 shares during the period. EP Wealth Advisors LLC grew its stake in Apple by 5.2% in the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker's stock valued at $406,099,000 after acquiring an additional 95,235 shares during the period. Bellwether Advisors LLC lifted its holdings in shares of Apple by 387.3% in the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker's stock valued at $5,128,000 after purchasing an additional 19,352 shares in the last quarter. Finally, Gentry Private Wealth LLC bought a new position in shares of Apple in the second quarter valued at approximately $876,000. Institutional investors and hedge funds own 60.41% of the company's stock.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of recent research reports. Evercore ISI restated a "buy" rating and issued a $250.00 target price on shares of Apple in a report on Thursday, September 26th. KeyCorp lowered Apple from a "sector weight" rating to an "underweight" rating and set a $200.00 target price on the stock. in a report on Friday, October 25th. Moffett Nathanson dropped their target price on Apple from $211.00 to $202.00 and set a "neutral" rating on the stock in a report on Tuesday. Barclays dropped their price target on Apple from $186.00 to $184.00 and set an "underweight" rating on the stock in a report on Friday, November 1st. Finally, Tigress Financial lifted their price target on Apple from $245.00 to $295.00 and gave the stock a "strong-buy" rating in a report on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $235.25.

Apple Trading Up 0.3 %

AAPL opened at $229.00 on Thursday. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The business has a 50 day simple moving average of $227.47 and a two-hundred day simple moving average of $217.40. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market capitalization of $3.46 trillion, a price-to-earnings ratio of 37.66, a PEG ratio of 2.20 and a beta of 1.24.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share 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 the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.46 EPS. Analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple's payout ratio is currently 16.45%.

Insider Buying and Selling

In other news, insider Chris Kondo sold 4,130 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company's stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock worth $92,007,745 in the last 90 days. 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.