Tactive Advisors LLC Purchases New Stake in Apple Inc. $AAPL

Tactive Advisors LLC acquired a new position in shares of Apple Inc. (NASDAQ:AAPL) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 27,362 shares of the iPhone maker’s stock, valued at approximately $5,593,000. Apple accounts for 1.8% of Tactive Advisors LLC’s portfolio, making the stock its 12th biggest holding.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Apple by 1.1% during the second quarter. Vanguard Group Inc. now owns 1,415,932,804 shares of the iPhone maker’s stock valued at $290,506,933,000 after purchasing an additional 15,141,995 shares in the last quarter. State Street Corp increased its stake in shares of Apple by 0.9% in the 2nd quarter. State Street Corp now owns 601,249,995 shares of the iPhone maker’s stock valued at $123,358,461,000 after purchasing an additional 5,224,229 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Apple by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 354,749,794 shares of the iPhone maker’s stock worth $72,506,336,000 after buying an additional 4,942,638 shares in the last quarter. Kingstone Capital Partners Texas LLC raised its holdings in shares of Apple by 573,627.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after buying an additional 205,656,808 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Apple during the 2nd quarter worth $38,942,255,000. 67.73% of the stock is owned by institutional investors.

Apple Trading Up 0.1%

Shares of NASDAQ AAPL opened at $278.28 on Friday. The firm has a 50 day moving average price of $268.24 and a two-hundred day moving average price of $237.03. The stock has a market cap of $4.11 trillion, a P/E ratio of 37.25, a price-to-earnings-growth ratio of 2.60 and a beta of 1.10. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $288.62. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.86 and a current ratio of 0.89.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. The business had revenue of $102.47 billion during the quarter, compared to the consensus estimate of $101.65 billion. Apple had a return on equity of 164.05% and a net margin of 26.92%.Apple’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.64 earnings per share. As a group, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Apple’s payout ratio is currently 13.92%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AAPL shares. DA Davidson lifted their target price on Apple from $250.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Morgan Stanley raised their price target on shares of Apple from $298.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Barclays lifted their price target on shares of Apple from $180.00 to $230.00 and gave the company an “underweight” rating in a report on Friday, October 31st. Melius Research set a $345.00 price objective on shares of Apple in a research note on Friday, October 31st. Finally, Jefferies Financial Group raised shares of Apple from an “underperform” rating to a “hold” rating and boosted their target price for the stock from $203.07 to $246.99 in a research note on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $282.51.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction 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 sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction 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 sale, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 228,052 shares of company stock valued at $58,604,588 over the last three months. 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.