RBA Wealth Management LLC Boosts Holdings in Apple Inc. (NASDAQ:AAPL)

RBA Wealth Management LLC grew its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,786 shares of the iPhone maker’s stock after purchasing an additional 1,166 shares during the period. Apple makes up about 3.4% of RBA Wealth Management LLC’s holdings, making the stock its biggest position. RBA Wealth Management LLC’s holdings in Apple were worth $6,123,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. McNaughton Wealth Management LLC grew its stake in Apple by 30.2% during the second quarter. McNaughton Wealth Management LLC now owns 5,728 shares of the iPhone maker’s stock valued at $783,000 after acquiring an additional 1,328 shares in the last quarter. Sanders Morris Harris LLC grew its stake in Apple by 0.4% during the second quarter. Sanders Morris Harris LLC now owns 122,438 shares of the iPhone maker’s stock valued at $16,888,000 after acquiring an additional 500 shares in the last quarter. Thrive Wealth Management LLC grew its stake in Apple by 6.1% during the second quarter. Thrive Wealth Management LLC now owns 45,512 shares of the iPhone maker’s stock valued at $6,222,000 after acquiring an additional 2,616 shares in the last quarter. Soundmark Wealth Management LLC grew its stake in Apple by 11.5% during the second quarter. Soundmark Wealth Management LLC now owns 11,560 shares of the iPhone maker’s stock valued at $1,581,000 after acquiring an additional 1,191 shares in the last quarter. Finally, MJP Associates Inc. ADV grew its stake in Apple by 38.2% during the second quarter. MJP Associates Inc. ADV now owns 93,809 shares of the iPhone maker’s stock valued at $12,826,000 after acquiring an additional 25,954 shares in the last quarter. Institutional investors own 57.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AAPL shares. Credit Suisse Group set a $201.00 price objective on shares of Apple in a research note on Thursday, September 8th. Fundamental Research set a $177.07 price target on shares of Apple and gave the stock a “buy” rating in a research note on Thursday, August 4th. Barclays set a $169.00 price target on shares of Apple in a research note on Wednesday, September 14th. Oppenheimer reissued an “outperform” rating and issued a $190.00 price target on shares of Apple in a research note on Wednesday, June 8th. Finally, Wells Fargo & Company cut their price target on shares of Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $181.68.

Apple Trading Up 1.6 %

NASDAQ:AAPL opened at $156.90 on Wednesday. The company has a fifty day moving average of $159.84 and a 200 day moving average of $155.88. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $2.52 trillion, a P/E ratio of 25.89, a P/E/G ratio of 1.95 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping the consensus estimate of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The business had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. During the same period in the prior year, the business earned $1.30 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, research analysts predict 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. Shareholders of record on Monday, August 8th were issued a $0.23 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.59%. Apple’s dividend payout ratio (DPR) is presently 15.18%.

Insiders Place Their Bets

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

Apple Company 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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