Resource Consulting Group Inc. trimmed its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.6% during the second quarter, Holdings Channel reports. The firm owned 14,423 shares of the iPhone maker’s stock after selling 90 shares during the quarter. Apple comprises about 0.8% of Resource Consulting Group Inc.’s holdings, making the stock its 5th largest position. Resource Consulting Group Inc.’s holdings in Apple were worth $1,972,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank acquired a new position in Apple during the 4th quarter worth approximately $25,228,507,000. Aaron Wealth Advisors LLC raised its stake in Apple by 30,391.8% during the 1st quarter. Aaron Wealth Advisors LLC now owns 26,075,085 shares of the iPhone maker’s stock worth $149,333,000 after buying an additional 25,989,570 shares during the period. State Street Corp raised its stake in Apple by 1.8% during the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after buying an additional 10,951,705 shares during the period. Capital Research Global Investors raised its stake in Apple by 31.7% during the 1st quarter. Capital Research Global Investors now owns 38,903,911 shares of the iPhone maker’s stock worth $6,793,041,000 after buying an additional 9,354,484 shares during the period. Finally, Vanguard Group Inc. raised its stake 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 worth $221,753,959,000 after buying an additional 8,734,393 shares during the period. 57.72% of the stock is owned by institutional investors and hedge funds.
Apple Price Performance
Shares of NASDAQ AAPL opened at $156.90 on Wednesday. The stock has a fifty day simple moving average of $159.84 and a two-hundred day simple moving average of $155.88. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The firm has a market cap of $2.52 trillion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 1.95 and a beta of 1.23. 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 Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were given a dividend of $0.23 per share. The ex-dividend date was Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.59%. Apple’s dividend payout ratio is currently 15.18%.
Insiders Place Their Bets
In other Apple news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction on Wednesday, August 17th. The stock was 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 hyperlink. In related news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Luca Maestri sold 96,735 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the sale, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on AAPL shares. KeyCorp upped their price target on Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, August 19th. Rosenblatt Securities decreased their price objective on Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, July 29th. Wedbush boosted their price objective on Apple from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, August 17th. Bank of America decreased their price objective on Apple from $200.00 to $185.00 in a report on Tuesday, July 26th. Finally, Sanford C. Bernstein set a $170.00 price objective on Apple in a report on Monday, September 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $181.68.
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.
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