Apple Inc. (NASDAQ:AAPL) Stake Lifted by Elevated Capital Advisors LLC

Elevated Capital Advisors LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,355 shares of the iPhone maker's stock after acquiring an additional 2,163 shares during the period. Apple comprises approximately 2.1% of Elevated Capital Advisors LLC's investment portfolio, making the stock its 7th biggest holding. Elevated Capital Advisors LLC's holdings in Apple were worth $7,446,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AAPL. OAKMONT Corp raised its holdings in Apple by 7.0% in the second quarter. OAKMONT Corp now owns 292,164 shares of the iPhone maker's stock worth $61,536,000 after purchasing an additional 18,998 shares in the last quarter. LCM Capital Management Inc lifted its position in Apple by 1.3% during the second quarter. LCM Capital Management Inc now owns 48,409 shares of the iPhone maker's stock valued at $10,196,000 after acquiring an additional 637 shares during the last quarter. Hilltop Partners LLC boosted its stake in Apple by 0.3% in the second quarter. Hilltop Partners LLC now owns 30,877 shares of the iPhone maker's stock valued at $6,503,000 after acquiring an additional 82 shares in the last quarter. Financial Counselors Inc. grew its holdings in Apple by 1.9% in the second quarter. Financial Counselors Inc. now owns 1,416,737 shares of the iPhone maker's stock worth $298,393,000 after purchasing an additional 26,192 shares during the last quarter. Finally, White Wing Wealth Management increased its position in shares of Apple by 2.9% during the second quarter. White Wing Wealth Management now owns 8,143 shares of the iPhone maker's stock worth $1,715,000 after purchasing an additional 231 shares in the last quarter. 60.41% of the stock is owned by institutional investors.

Apple Trading Down 0.9 %

AAPL traded down $2.07 on Wednesday, hitting $231.78. The company had a trading volume of 34,060,339 shares, compared to its average volume of 60,342,164. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The firm has a market cap of $3.55 trillion, a P/E ratio of 36.05, a PEG ratio of 2.40 and a beta of 1.24. The company's fifty day moving average price is $224.59 and its 200 day moving average price is $207.04. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analysts' expectations of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm's revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.26 earnings per share. As a group, equities analysts expect that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple's dividend payout ratio is presently 15.55%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Bank of America reaffirmed a "buy" rating and set a $256.00 target price on shares of Apple in a research report on Thursday, October 3rd. Needham & Company LLC reissued a "buy" rating and set a $260.00 price objective on shares of Apple in a report on Thursday, September 19th. Robert W. Baird raised their target price on Apple from $200.00 to $240.00 and gave the stock an "outperform" rating in a research note on Thursday, July 25th. Barclays reiterated an "underweight" rating and set a $186.00 price target on shares of Apple in a research note on Tuesday, October 1st. Finally, New Street Research reaffirmed a "neutral" rating and set a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $239.27.

Insider Activity at Apple

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

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.