Riverpark Capital Management LLC Increases Stake in Apple Inc. $AAPL

Riverpark Capital Management LLC raised its holdings in Apple Inc. (NASDAQ:AAPL) by 1.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,768 shares of the iPhone maker’s stock after acquiring an additional 231 shares during the quarter. Apple comprises 6.4% of Riverpark Capital Management LLC’s portfolio, making the stock its 2nd largest position. Riverpark Capital Management LLC’s holdings in Apple were worth $3,503,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Tallon Kerry Patrick bought a new position in Apple in the fourth quarter valued at approximately $1,877,000. First National Bank of Hutchinson boosted its position in shares of Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after purchasing an additional 6,982 shares in the last quarter. Eagle Capital Management LLC boosted its position in shares of Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after purchasing an additional 272 shares in the last quarter. Brighton Jones LLC boosted its position in shares of Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after purchasing an additional 69,207 shares in the last quarter. Finally, Revolve Wealth Partners LLC boosted its position in shares of Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after purchasing an additional 2,695 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Trading Down 0.0%

AAPL opened at $239.69 on Monday. The stock has a market capitalization of $3.56 trillion, a P/E ratio of 36.37, a P/E/G ratio of 2.50 and a beta of 1.11. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The firm’s fifty day simple moving average is $219.28 and its 200 day simple moving average is $212.40. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating 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 business had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. During the same period in the previous year, the firm posted $1.40 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. As a group, research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple’s payout ratio is presently 15.78%.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of a number of recent analyst reports. Moffett Nathanson raised shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target on the stock in a research report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research report on Friday, July 25th. BMO Capital Markets reissued a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Evercore ISI reissued an “outperform” rating and set a $250.00 price target on shares of Apple in a research report on Wednesday, August 13th. Finally, Raymond James Financial reissued an “outperform” rating and set a $240.00 price target (up from $230.00) on shares of Apple in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $239.05.

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.