Rappaport Reiches Capital Management LLC Purchases 237 Shares of Apple Inc. (NASDAQ:AAPL)

Rappaport Reiches Capital Management LLC grew its position in Apple Inc. (NASDAQ:AAPL) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 99,180 shares of the iPhone maker’s stock after acquiring an additional 237 shares during the period. Apple comprises approximately 7.0% of Rappaport Reiches Capital Management LLC’s investment portfolio, making the stock its 5th biggest position. Rappaport Reiches Capital Management LLC’s holdings in Apple were worth $19,095,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wyrmwood Management LLC grew its stake in Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after acquiring an additional 69 shares during the period. Gilfoyle & Co LLC grew its position in shares of Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after purchasing an additional 118 shares during the period. PayPay Securities Corp increased its stake in shares of Apple by 70.2% during the third quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after purchasing an additional 210 shares in the last quarter. Cordant Inc. raised its position in shares of Apple by 27.7% during the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after purchasing an additional 140 shares during the last quarter. Finally, Life Planning Partners Inc purchased a new position in Apple in the 4th quarter valued at about $132,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

Apple stock opened at $173.50 on Tuesday. The company’s 50 day moving average is $172.86 and its two-hundred day moving average is $181.77. The firm has a market cap of $2.68 trillion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27. 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 $164.07 and a 52-week high of $199.62.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, topping the consensus estimate of $2.09 by $0.09. The firm had revenue of $119.60 billion during the quarter, compared to analysts’ expectations of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. Apple’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.88 EPS. On average, research analysts expect that Apple Inc. will post 6.54 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 annualized dividend and a yield of 0.55%. Apple’s dividend payout ratio (DPR) is 14.95%.

Analyst Upgrades and Downgrades

Several research firms have commented on AAPL. Citigroup cut their price objective on Apple from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Monday. Piper Sandler Companies downgraded Apple to a “neutral” rating and reduced their price objective for the company from $220.00 to $205.00 in a research note on Thursday, January 4th. Loop Capital decreased their price objective on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Robert W. Baird upped their target price on shares of Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Finally, Oppenheimer reissued an “outperform” rating and issued a $200.00 price target on shares of Apple in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $202.62.

Insider Buying and Selling

In other news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the sale, the director now directly owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Jeffrey E. Williams sold 59,162 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the completion of the sale, the chief operating officer now owns 489,944 shares in the company, valued at $84,378,155.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Arthur D. Levinson sold 100,000 shares of the 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 completion of the transaction, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The disclosure for this sale can be found here. Insiders sold 366,271 shares of company stock worth $63,653,887 over the last 90 days. 0.06% of the stock is owned by insiders.

Apple Profile

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.