Requisite Capital Management LLC Sells 85 Shares of Apple Inc. (NASDAQ:AAPL)

Requisite Capital Management LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,461 shares of the iPhone maker’s stock after selling 85 shares during the period. Apple comprises about 0.4% of Requisite Capital Management LLC’s holdings, making the stock its 16th largest holding. Requisite Capital Management LLC’s holdings in Apple were worth $1,629,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Kingdom Financial Group LLC. grew its stake in shares of Apple by 5.5% in the third quarter. Kingdom Financial Group LLC. now owns 11,464 shares of the iPhone maker’s stock worth $1,963,000 after purchasing an additional 598 shares during the last quarter. RFG Advisory LLC lifted its holdings in Apple by 13.6% in the 3rd quarter. RFG Advisory LLC now owns 172,823 shares of the iPhone maker’s stock worth $29,589,000 after buying an additional 20,737 shares during the period. Headinvest LLC grew its position in shares of Apple by 1.7% in the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after buying an additional 872 shares during the last quarter. Sound Income Strategies LLC increased its stake in shares of Apple by 16.1% during the fourth quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock valued at $14,461,000 after buying an additional 10,425 shares during the period. Finally, DNB Asset Management AS lifted its stake in Apple by 6.9% in the fourth quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock worth $829,240,000 after acquiring an additional 279,311 shares during the period. 60.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on AAPL shares. Redburn Partners lowered shares of Apple to a “neutral” rating and set a $200.00 price objective for the company. in a report on Wednesday, January 10th. Maxim Group initiated coverage on Apple in a research note on Wednesday, April 17th. They issued a “hold” rating and a $178.00 target price for the company. Wedbush reaffirmed an “outperform” rating and issued a $250.00 price target on shares of Apple in a research note on Tuesday, April 9th. Morgan Stanley lowered their price objective on Apple from $220.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Apple from $215.00 to $210.00 and set an “overweight” rating for the company in a research note on Thursday, April 11th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $203.05.

Insider Activity

In related news, CFO Luca Maestri sold 53,194 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Luca Maestri sold 53,194 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The disclosure for this sale can be found here. Insiders have sold 366,271 shares of company stock worth $63,653,887 in the last three months. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $165.84 on Tuesday. The business has a 50-day simple moving average of $174.24 and a two-hundred day simple moving average of $182.10. 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 52 week low of $162.80 and a 52 week high of $199.62. The stock has a market cap of $2.56 trillion, a price-to-earnings ratio of 25.83, a PEG ratio of 1.99 and a beta of 1.27.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data 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. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. During the same period in the previous year, the company posted $1.88 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. On average, analysts expect that Apple Inc. will post 6.54 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were paid a $0.24 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.58%. Apple’s dividend payout ratio (DPR) is presently 14.95%.

About Apple

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.