Sage Rhino Capital LLC Has $9.88 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Sage Rhino Capital LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 2.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,603 shares of the iPhone maker’s stock after selling 1,560 shares during the quarter. Apple makes up 2.3% of Sage Rhino Capital LLC’s portfolio, making the stock its 10th largest position. Sage Rhino Capital LLC’s holdings in Apple were worth $9,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wyrmwood Management LLC increased its position in Apple by 69.0% during the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after purchasing an additional 69 shares during the period. Christopher J. Hasenberg Inc purchased a new position in Apple during the 1st quarter valued at about $35,000. Gilfoyle & Co LLC increased its position in Apple by 118.0% during the 4th 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. A.P. Gilfoyle & Co. L.P. purchased a new position in Apple during the 4th quarter valued at about $39,000. Finally, University of Texas Texas AM Investment Managment Co. increased its position in Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares during the period. Institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

AAPL opened at $226.34 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. The firm has a fifty day moving average price of $197.44 and a 200 day moving average price of $186.31. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $226.45. The stock has a market cap of $3.47 trillion, a P/E ratio of 35.20, a P/E/G ratio of 2.69 and a beta of 1.24.

Apple (NASDAQ:AAPLGet Free Report) last posted its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The firm had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. During the same period in the previous year, the business posted $1.52 EPS. The business’s revenue was down 4.3% compared to the same quarter last year. Equities research analysts anticipate that Apple Inc. will post 6.59 earnings per share for the current year.

Apple announced that its Board of Directors has initiated a share buyback plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 10th. This is a boost from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s dividend payout ratio is currently 15.55%.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the sale, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the completion of the sale, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the sale, the insider now directly owns 29,278 shares of the company’s stock, valued at approximately $5,574,531.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 192,355 shares of company stock worth $34,771,329. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Citigroup cut their target price on shares of Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. DA Davidson raised shares of Apple from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $200.00 to $230.00 in a research report on Tuesday, June 11th. Sanford C. Bernstein lifted their price objective on shares of Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Apple in a research report on Thursday. Finally, Rosenblatt Securities raised shares of Apple from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $196.00 to $260.00 in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $215.71.

Check Out Our Latest Analysis on AAPL

Apple Profile

(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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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