Elevated Capital Advisors LLC Has $10.46 Million Position in Apple Inc. (NASDAQ:AAPL)

Elevated Capital Advisors LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 26.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,870 shares of the iPhone maker's stock after purchasing an additional 9,515 shares during the period. Apple makes up approximately 2.8% of Elevated Capital Advisors LLC's portfolio, making the stock its 2nd largest position. Elevated Capital Advisors LLC's holdings in Apple were worth $10,455,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AAPL. Swedbank AB purchased a new stake in shares of Apple in the 1st quarter worth about $3,026,492,000. Strategic Financial Concepts LLC boosted its holdings in shares of Apple by 14,145.8% during the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker's stock worth $1,603,000 after purchasing an additional 7,558,826 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in Apple in the 2nd quarter valued at about $834,368,000. Ameriprise Financial Inc. increased its position in Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker's stock worth $10,909,457,000 after purchasing an additional 3,245,281 shares during the last quarter. Finally, Tairen Capital Ltd acquired a new stake in shares of Apple during the 2nd quarter worth $588,952,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares of the company's stock, valued at $111,148,695.84. This represents a 10.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred 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 sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 508,170 shares of company stock worth $117,004,745 in the last 90 days. 0.06% of the stock is owned by company insiders.

Apple Stock Up 1.9 %

Shares of AAPL traded up $4.70 during mid-day trading on Friday, hitting $254.49. 145,580,875 shares of the company's stock were exchanged, compared to its average volume of 57,671,145. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $255.00. The firm has a fifty day moving average of $234.97 and a two-hundred day moving average of $225.48. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The stock has a market cap of $3.85 trillion, a price-to-earnings ratio of 41.86, a P/E/G ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $94.93 billion during the quarter, compared to analysts' expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. Apple's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.46 earnings per share. On average, sell-side analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. Apple's dividend payout ratio is presently 16.45%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AAPL shares. New Street Research reaffirmed a "neutral" rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. Wedbush reissued an "outperform" rating and set a $300.00 price objective on shares of Apple in a report on Friday, November 29th. Jefferies Financial Group lowered Apple from a "buy" rating to a "hold" rating and upped their price target for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Citigroup lifted their price objective on shares of Apple to $185.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Finally, Barclays dropped their target price on shares of Apple from $186.00 to $184.00 and set an "underweight" rating on the stock in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $236.78.

Apple Company 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.