RWWM Inc. Sells 376 Shares of Apple Inc. (NASDAQ:AAPL)

RWWM Inc. cut its position in Apple Inc. (NASDAQ:AAPL) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,623 shares of the iPhone maker’s stock after selling 376 shares during the quarter. Apple comprises approximately 0.3% of RWWM Inc.’s holdings, making the stock its 14th biggest position. RWWM Inc.’s holdings in Apple were worth $2,448,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Verus Financial Partners Inc. raised its position in Apple by 0.3% in the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after purchasing an additional 48 shares during the last quarter. Brown Financial Advisory raised its holdings in Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after buying an additional 50 shares during the last quarter. Core Wealth Management Inc. boosted its position in Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after buying an additional 50 shares during the period. Lowery Thomas LLC grew its holdings in Apple by 0.7% during the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after acquiring an additional 50 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. increased its position in Apple by 1.1% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock valued at $949,000 after acquiring an additional 51 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of recent research reports. Barclays cut their price target on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, November 1st. Maxim Group lifted their target price on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Wedbush reissued an “outperform” rating and issued a $285.00 price target on shares of Apple in a research note on Monday, September 9th. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and upped their target price for the company from $205.00 to $212.92 in a report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at $3,469,275. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 412,746 shares of company stock valued at $93,021,362 over the last ninety days. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

NASDAQ AAPL opened at $226.96 on Monday. The company has a market cap of $3.43 trillion, a P/E ratio of 37.33, a PEG ratio of 2.18 and a beta of 1.24. The company has a fifty day simple moving average of $226.82 and a 200 day simple moving average of $214.36. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same period last year, the company earned $1.46 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. Sell-side analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

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.