Apple Inc. (NASDAQ:AAPL) is Resources Management Corp CT ADV’s Largest Position

Resources Management Corp CT ADV lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 204,098 shares of the iPhone maker’s stock after selling 3,721 shares during the quarter. Apple comprises approximately 6.3% of Resources Management Corp CT ADV’s portfolio, making the stock its largest position. Resources Management Corp CT ADV’s holdings in Apple were worth $42,987,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Main Line Retirement Advisors LLC lifted its stake in Apple by 54.5% during the first quarter. Main Line Retirement Advisors LLC now owns 5,193 shares of the iPhone maker’s stock worth $891,000 after purchasing an additional 1,832 shares in the last quarter. Panoramic Investment Advisors LLC raised its holdings in shares of Apple by 26.9% in the 1st quarter. Panoramic Investment Advisors LLC now owns 9,747 shares of the iPhone maker’s stock valued at $1,671,000 after buying an additional 2,066 shares during the period. Iams Wealth Management LLC lifted its stake in Apple by 23.5% during the 1st quarter. Iams Wealth Management LLC now owns 6,486 shares of the iPhone maker’s stock worth $1,177,000 after acquiring an additional 1,233 shares in the last quarter. Cullinan Associates Inc. boosted its holdings in Apple by 1.5% during the 1st quarter. Cullinan Associates Inc. now owns 760,875 shares of the iPhone maker’s stock valued at $130,475,000 after acquiring an additional 10,882 shares during the period. Finally, Synergy Asset Management LLC grew its position in Apple by 37.2% in the 1st quarter. Synergy Asset Management LLC now owns 114,539 shares of the iPhone maker’s stock valued at $19,641,000 after acquiring an additional 31,079 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 412,746 shares of company stock worth $93,021,362. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

AAPL stock opened at $226.96 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $3.43 trillion, a P/E ratio of 37.33, a PEG ratio of 2.18 and a beta of 1.24. The business has a 50 day simple moving average of $226.82 and a 200-day simple moving average of $214.36. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. Apple’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 EPS. As a group, equities analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s payout ratio is 16.45%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AAPL. Rosenblatt Securities increased their price target on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Tigress Financial increased their target price on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Morgan Stanley reissued an “overweight” rating and issued a $273.00 price target on shares of Apple in a research report on Tuesday, September 10th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Finally, KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $235.51.

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.