Red Mountain Financial LLC Has $4.52 Million Position in Apple Inc. $AAPL

Red Mountain Financial LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,330 shares of the iPhone maker’s stock after buying an additional 305 shares during the period. Apple comprises approximately 5.5% of Red Mountain Financial LLC’s investment portfolio, making the stock its 4th biggest position. Red Mountain Financial LLC’s holdings in Apple were worth $4,516,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in AAPL. Norges Bank acquired a new position in Apple in the 4th quarter worth approximately $46,868,648,000. GAMMA Investing LLC boosted its stake in Apple by 25,934.1% in the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after purchasing an additional 59,835,676 shares during the period. Vanguard Group Inc. boosted its stake in Apple by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock worth $349,532,608,000 after purchasing an additional 49,168,843 shares during the period. Proficio Capital Partners LLC boosted its stake in Apple by 23,555.4% in the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker’s stock worth $5,272,653,000 after purchasing an additional 20,966,232 shares during the period. Finally, Northern Trust Corp boosted its stake in Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of a number of recent analyst reports. Jefferies Financial Group raised shares of Apple from an “underperform” rating to a “hold” rating in a research note on Friday, July 18th. JPMorgan Chase & Co. increased their target price on shares of Apple from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. BMO Capital Markets reiterated a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Barclays increased their target price on shares of Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research report on Friday, August 1st. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $240.00 target price (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $237.60.

Apple Stock Performance

NASDAQ AAPL opened at $230.56 on Wednesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market capitalization of $3.42 trillion, a price-to-earnings ratio of 34.99, a P/E/G ratio of 2.42 and a beta of 1.16. The company’s fifty day moving average is $210.83 and its two-hundred day moving average is $213.06. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same period last year, the business posted $1.40 EPS. The business’s quarterly revenue was up 9.6% on a year-over-year basis. Equities 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 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 often a sign that the company’s leadership believes its stock is undervalued.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, August 11th. Apple’s payout ratio is 15.78%.

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.