Apple Inc. (NASDAQ:AAPL) Stock Position Boosted by RMR Wealth Builders

RMR Wealth Builders increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 120,389 shares of the iPhone maker’s stock after purchasing an additional 1,127 shares during the period. Apple accounts for 2.8% of RMR Wealth Builders’ holdings, making the stock its 8th biggest holding. RMR Wealth Builders’ holdings in Apple were worth $26,742,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Burkett Financial Services LLC raised its holdings in shares of Apple by 0.6% during the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after purchasing an additional 93 shares during the last quarter. OneAscent Wealth Management LLC grew its position in shares of Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock valued at $2,337,000 after purchasing an additional 409 shares during the period. TruWealth Advisors LLC increased its stake in shares of Apple by 2.8% during the first quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker’s stock worth $42,045,000 after purchasing an additional 5,120 shares in the last quarter. Allstate Corp increased its stake in shares of Apple by 3,368.2% during the fourth quarter. Allstate Corp now owns 451,489 shares of the iPhone maker’s stock worth $113,062,000 after purchasing an additional 438,471 shares in the last quarter. Finally, Vinva Investment Management Ltd boosted its position in Apple by 12.4% during the fourth quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker’s stock worth $192,700,000 after acquiring an additional 83,997 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Trading Up 0.2%

AAPL opened at $209.11 on Wednesday. The stock has a market capitalization of $3.12 trillion, a PE ratio of 32.57, a P/E/G ratio of 2.33 and a beta of 1.20. The firm’s fifty day moving average price is $203.79 and its 200 day moving average price is $216.45. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.03. The firm had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.53 earnings per share. As a group, research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its board has approved a share repurchase plan on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Monday, May 12th. This is a positive change from Apple’s previous quarterly dividend of $0.25. Apple’s dividend payout ratio is currently 16.20%.

Insider Transactions at Apple

In other Apple news, CFO Kevan Parekh sold 4,570 shares of the company’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the sale, the chief financial officer directly owned 4,569 shares of the company’s stock, valued at approximately $941,214. This represents a 50.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider directly owned 15,533 shares of the company’s stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of recent research reports. Wedbush restated an “outperform” rating and set a $270.00 price target on shares of Apple in a research report on Wednesday, July 9th. Jefferies Financial Group upgraded shares of Apple from an “underperform” rating to a “hold” rating and upped their price objective for the stock from $170.62 to $188.32 in a report on Tuesday, July 1st. Monness Crespi & Hardt upped their target price on shares of Apple to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. Bank of America reaffirmed a “buy” rating and set a $235.00 target price on shares of Apple in a research note on Tuesday, June 10th. Finally, Evercore ISI upped their price objective on Apple to $250.00 and gave the stock a “buy” rating in a research report on Friday, June 6th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $235.27.

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.