RFG Holdings Inc. Has $507,000 Stock Position in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Mar 22nd, 2023

RFG Holdings Inc. grew its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 6.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,903 shares of the iPhone maker’s stock after purchasing an additional 227 shares during the quarter. Apple comprises approximately 0.5% of RFG Holdings Inc.’s portfolio, making the stock its 10th biggest holding. RFG Holdings Inc.’s holdings in Apple were worth $507,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Robinson Value Management Ltd. purchased a new stake in shares of Apple in the third quarter worth about $28,000. Hanseatic Management Services Inc. lifted its holdings in shares of Apple by 75.4% in the third quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock worth $34,000 after buying an additional 107 shares in the last quarter. Cheyne Capital Management UK LLP lifted its holdings in shares of Apple by 200.0% in the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $293,000 after buying an additional 550 shares in the last quarter. Ramsey Quantitative Systems purchased a new stake in shares of Apple in the second quarter worth about $55,000. Finally, Morgan Dempsey Capital Management LLC purchased a new stake in shares of Apple in the third quarter worth about $55,000. Institutional investors own 57.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AAPL. UBS Group set a $180.00 target price on shares of Apple in a research note on Tuesday, March 7th. The Goldman Sachs Group began coverage on shares of Apple in a research note on Sunday, March 5th. They issued a “buy” rating and a $199.00 target price on the stock. Sanford C. Bernstein set a $125.00 target price on shares of Apple in a research note on Tuesday, January 24th. DA Davidson raised their target price on shares of Apple from $167.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. Finally, Raymond James lowered their target price on shares of Apple from $185.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, February 3rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $168.24.

Apple Stock Performance

NASDAQ:AAPL opened at $159.28 on Wednesday. The stock has a market cap of $2.52 trillion, a P/E ratio of 27.04, a price-to-earnings-growth ratio of 2.05 and a beta of 1.30. The firm’s fifty day simple moving average is $147.75 and its 200 day simple moving average is $145.25. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $179.61. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.76.

Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.05). The company had revenue of $117.15 billion during the quarter, compared to the consensus estimate of $121.67 billion. Apple had a net margin of 24.56% and a return on equity of 163.45%. The business’s revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.10 EPS. As a group, research analysts predict that Apple Inc. will post 6.04 EPS for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 16th. Investors of record on Monday, February 13th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, February 10th. This represents a $0.92 annualized dividend and a yield of 0.58%. This is a boost from Apple’s previous quarterly dividend of $0.17. Apple’s payout ratio is 15.62%.

About Apple

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Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.

RFG Holdings Inc. Has $507,000 Stock Position in Apple Inc. (NASDAQ:AAPL)

Wall Street Analysts Forecast Growth

Apple Stock Performance

Apple Increases Dividend

About Apple

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