Apple Inc. (NASDAQ:AAPL) Stake Increased by RBA Wealth Management LLC

RBA Wealth Management LLC boosted its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 44,786 shares of the iPhone maker’s stock after purchasing an additional 1,166 shares during the quarter. Apple comprises about 3.4% of RBA Wealth Management LLC’s holdings, making the stock its biggest holding. RBA Wealth Management LLC’s holdings in Apple were worth $6,123,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after purchasing an additional 8,734,393 shares during the last quarter. State Street Corp grew its position in Apple by 1.8% during the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $112,422,274,000 after purchasing an additional 10,951,705 shares during the last quarter. Geode Capital Management LLC grew its position in Apple by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock valued at $46,812,958,000 after purchasing an additional 4,456,954 shares during the last quarter. Norges Bank purchased a new stake in Apple during the 4th quarter valued at about $25,228,507,000. Finally, Charles Schwab Investment Management Inc. grew its position in Apple by 1.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock valued at $14,097,970,000 after purchasing an additional 1,155,915 shares during the last quarter. 57.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

NASDAQ AAPL opened at $156.90 on Wednesday. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The stock has a market cap of $2.52 trillion, a price-to-earnings ratio of 25.89, a PEG ratio of 1.95 and a beta of 1.23. The company’s 50 day moving average is $159.84 and its two-hundred day moving average is $155.88. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.06. The firm had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.30 earnings per share. As a group, research analysts anticipate that Apple Inc. will post 6.11 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Friday, August 5th. Apple’s payout ratio is currently 15.18%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AAPL shares. Itau BBA Securities started coverage on shares of Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target on the stock. Wedbush raised their price target on shares of Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, August 17th. Citigroup raised their price target on shares of Apple from $175.00 to $185.00 and gave the company a “buy” rating in a report on Friday, July 29th. UBS Group set a $185.00 price target on shares of Apple in a report on Wednesday, September 14th. Finally, Loop Capital dropped their price target on shares of Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.68.

Apple Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

Recommended Stories

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.