Rocky Mountain Advisers LLC Raises Stake in Apple Inc. (NASDAQ:AAPL)

Rocky Mountain Advisers LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 8.5% in the third quarter, Holdings Channel reports. The firm owned 6,758 shares of the iPhone maker’s stock after purchasing an additional 527 shares during the period. Apple makes up about 0.6% of Rocky Mountain Advisers LLC’s investment portfolio, making the stock its 17th biggest position. Rocky Mountain Advisers LLC’s holdings in Apple were worth $1,157,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Parker Financial LLC boosted its position in shares of Apple by 1.2% in the 2nd quarter. Parker Financial LLC now owns 4,543 shares of the iPhone maker’s stock valued at $881,000 after purchasing an additional 54 shares during the period. Mokosak Advisory Group LLC boosted its position in shares of Apple by 1.1% in the 2nd quarter. Mokosak Advisory Group LLC now owns 5,562 shares of the iPhone maker’s stock valued at $1,079,000 after purchasing an additional 59 shares during the period. Kraft Davis & Associates LLC boosted its position in shares of Apple by 0.9% in the 3rd quarter. Kraft Davis & Associates LLC now owns 6,716 shares of the iPhone maker’s stock valued at $1,155,000 after purchasing an additional 59 shares during the period. MKT Advisors LLC boosted its position in shares of Apple by 0.5% in the 2nd quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock valued at $1,777,000 after purchasing an additional 60 shares during the period. Finally, Cassia Capital Partners LLC boosted its position in shares of Apple by 1.2% in the 3rd quarter. Cassia Capital Partners LLC now owns 5,209 shares of the iPhone maker’s stock valued at $892,000 after purchasing an additional 60 shares during the period. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 5,513 shares of Apple stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $192.00, for a total transaction of $1,058,496.00. Following the sale, the insider now owns 29,174 shares of the company’s stock, valued at approximately $5,601,408. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Chris Kondo sold 5,513 shares of Apple stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $192.00, for a total transaction of $1,058,496.00. Following the sale, the insider now owns 29,174 shares of the company’s stock, valued at approximately $5,601,408. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 123,448 shares of Apple stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $188.79, for a total value of $23,305,747.92. Following the sale, the senior vice president now directly owns 293,266 shares in the company, valued at approximately $55,365,688.14. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AAPL. Morgan Stanley increased their price target on Apple from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, December 8th. Bank of America raised Apple from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $208.00 to $225.00 in a research note on Thursday, January 18th. Piper Sandler Companies downgraded Apple to a “neutral” rating and reduced their price objective for the stock from $220.00 to $205.00 in a research note on Thursday, January 4th. Jefferies Financial Group reduced their price objective on Apple from $220.00 to $195.00 and set a “buy” rating for the company in a research note on Tuesday, October 31st. Finally, Redburn Partners downgraded Apple to a “neutral” rating and set a $200.00 price objective for the company. in a research note on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.72.

Read Our Latest Research Report on Apple

Apple Stock Performance

AAPL opened at $187.15 on Tuesday. The firm has a market capitalization of $2.89 trillion, a P/E ratio of 29.15, a price-to-earnings-growth ratio of 2.27 and a beta of 1.31. The stock’s 50 day moving average price is $190.46 and its two-hundred day moving average price is $184.00. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. Apple Inc. has a 12-month low of $143.90 and a 12-month high of $199.62.

Apple (NASDAQ:AAPLGet Free Report) last released its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. The firm had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.88 EPS. On average, equities analysts forecast that Apple Inc. will post 6.56 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Monday, February 12th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Friday, February 9th. Apple’s dividend payout ratio (DPR) is currently 14.95%.

About Apple

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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