RMR Wealth Builders raised its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 4.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 105,395 shares of the iPhone maker’s stock after acquiring an additional 4,316 shares during the quarter. Apple makes up approximately 3.5% of RMR Wealth Builders’ investment portfolio, making the stock its 9th largest position. RMR Wealth Builders’ holdings in Apple were worth $20,444,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the stock. IFM Investors Pty Ltd grew its holdings in Apple by 20.0% in the first quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock valued at $456,728,000 after purchasing an additional 435,891 shares during the period. Ironwood Wealth Management LLC. lifted its holdings in Apple by 0.4% during the first quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock valued at $42,016,000 after purchasing an additional 1,040 shares in the last quarter. Markel Corp lifted its holdings in Apple by 0.7% during the first quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock valued at $210,752,000 after purchasing an additional 8,450 shares in the last quarter. Camden Capital LLC lifted its holdings in Apple by 9.2% during the first quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock valued at $27,305,000 after purchasing an additional 13,200 shares in the last quarter. Finally, Harbor Island Capital LLC lifted its holdings in Apple by 0.3% during the first quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock valued at $23,629,000 after purchasing an additional 400 shares in the last quarter. 58.51% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have commented on the company. Wedbush increased their target price on Apple from $230.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 13th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $195.00 target price on shares of Apple in a report on Monday, October 9th. Morgan Stanley dropped their target price on shares of Apple from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Monday, October 16th. Evercore ISI reaffirmed an “outperform” rating and set a $210.00 target price on shares of Apple in a report on Thursday, September 28th. Finally, Wells Fargo & Company boosted their target price on Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 24th. Nine research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $199.40.
Apple Stock Up 0.3 %
Shares of NASDAQ AAPL opened at $173.44 on Wednesday. The company has a market capitalization of $2.71 trillion, a price-to-earnings ratio of 29.15, a price-to-earnings-growth ratio of 2.32 and a beta of 1.28. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.98 and a quick ratio of 0.92. The business has a 50-day moving average of $177.58 and a two-hundred day moving average of $179.11. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $198.23.
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. Apple had a net margin of 24.68% and a return on equity of 164.92%. The company had revenue of $81.80 billion for the quarter, compared to analysts’ expectations of $81.79 billion. During the same quarter last year, the company earned $1.20 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, analysts forecast that Apple Inc. will post 6.05 earnings per share for the current fiscal year.
Apple Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Friday, August 11th. Apple’s payout ratio is 16.13%.
Insiders Place Their Bets
In other news, CEO Timothy D. Cook sold 240,569 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the completion of the sale, the chief executive officer now directly owns 3,280,053 shares of the company’s stock, valued at $565,809,142.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Timothy D. Cook sold 240,569 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the completion of the sale, the chief executive officer now directly owns 3,280,053 shares of the company’s stock, valued at $565,809,142.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 65,536 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the completion of the sale, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at $23,483,548.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 455,004 shares of company stock valued at $79,238,767. 0.06% of the stock is currently owned by insiders.
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.
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