RHS Financial LLC Reduces Holdings in Apple Inc. (NASDAQ:AAPL)

RHS Financial LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 6.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,175 shares of the iPhone maker’s stock after selling 604 shares during the quarter. Apple makes up approximately 1.1% of RHS Financial LLC’s investment portfolio, making the stock its 28th largest position. RHS Financial LLC’s holdings in Apple were worth $2,038,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in AAPL. Advanced Portfolio Management LLC boosted its position in Apple by 0.3% during the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock worth $3,260,000 after purchasing an additional 47 shares in the last quarter. Family Capital Management Inc. boosted its position in Apple by 0.3% during the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker’s stock worth $4,235,000 after purchasing an additional 48 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in Apple by 0.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker’s stock worth $4,178,000 after purchasing an additional 48 shares in the last quarter. Scarborough Advisors LLC boosted its position in Apple by 0.3% during the fourth quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker’s stock worth $3,992,000 after purchasing an additional 51 shares in the last quarter. Finally, Disciplined Investments LLC boosted its position in Apple by 0.7% during the fourth quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker’s stock worth $1,794,000 after purchasing an additional 51 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,486 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider owned 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The stock was 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 $941,214. This represents a 50.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Stock Up 0.6%

Shares of Apple stock opened at $211.18 on Friday. The business’s fifty day moving average price is $204.57 and its two-hundred day moving average price is $215.61. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The company has a market capitalization of $3.15 trillion, a P/E ratio of 32.89, a PEG ratio of 2.36 and a beta of 1.20. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

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

Apple declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 1st that permits the company to buyback $100.00 billion in outstanding shares. This buyback authorization permits the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is 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 issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. This is a boost from Apple’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple’s payout ratio is presently 16.20%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Rosenblatt Securities downgraded Apple from a “buy” rating to a “neutral” rating and set a $217.00 price objective on the stock. in a research report on Friday, May 2nd. JPMorgan Chase & Co. increased their target price on Apple from $230.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday. Citigroup reiterated a “buy” rating on shares of Apple in a research report on Tuesday, June 10th. Tigress Financial increased their target price on Apple from $295.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 3rd. Finally, KeyCorp upgraded Apple from an “underweight” rating to a “sector weight” rating in a research report on Monday, April 14th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $235.11.

Apple Company 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.