RAM Investment Partners LLC Increases Stake in Apple Inc. (NASDAQ:AAPL)

RAM Investment Partners LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,810 shares of the iPhone maker’s stock after buying an additional 380 shares during the quarter. Apple comprises approximately 0.9% of RAM Investment Partners LLC’s holdings, making the stock its 13th largest position. RAM Investment Partners LLC’s holdings in Apple were worth $3,734,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Advanced Portfolio Management LLC grew its stake in shares of 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 acquiring an additional 47 shares during the last quarter. Family Capital Management Inc. grew its stake in shares of 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 acquiring an additional 48 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in shares of 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 acquiring an additional 48 shares during the last quarter. Scarborough Advisors LLC grew its stake in shares of 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 acquiring an additional 51 shares during the last quarter. Finally, Disciplined Investments LLC lifted its holdings in shares of 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 during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Down 0.2%

Shares of NASDAQ:AAPL opened at $202.92 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The business has a fifty day moving average of $205.58 and a two-hundred day moving average of $213.24. The stock has a market cap of $3.01 trillion, a P/E ratio of 30.79, a PEG ratio of 2.14 and a beta of 1.16. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.40 EPS. On average, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Monday, August 11th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, August 11th. Apple’s dividend payout ratio is presently 15.78%.

Apple announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AAPL. Raymond James Financial reaffirmed an “outperform” rating and set a $240.00 target price (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. Scotiabank downgraded Apple to a “market perform” rating in a report on Friday, May 2nd. Jefferies Financial Group raised Apple from an “underperform” rating to a “hold” rating in a report on Friday, July 18th. Wedbush reaffirmed an “outperform” rating and set a $270.00 target price on shares of Apple in a report on Wednesday, July 30th. Finally, Barclays lifted their target price on Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a report on Friday, August 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.25.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is currently owned by insiders.

About Apple

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.