Apple Inc. $AAPL Stock Position Boosted by RDA Financial Network

RDA Financial Network raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,171 shares of the iPhone maker’s stock after acquiring an additional 528 shares during the period. Apple makes up 2.6% of RDA Financial Network’s investment portfolio, making the stock its 6th biggest holding. RDA Financial Network’s holdings in Apple were worth $9,678,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of AAPL. ROSS JOHNSON & Associates LLC lifted its holdings in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares in the last quarter. Life Planning Partners Inc purchased a new position in shares of Apple during the 4th quarter worth about $47,000. Elite Financial Inc. purchased a new position in shares of Apple during the 1st quarter worth about $58,000. Conquis Financial LLC acquired a new stake in Apple during the 4th quarter worth approximately $63,000. Finally, LSV Asset Management acquired a new stake in Apple during the 4th quarter worth approximately $65,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of research analyst reports. Citigroup reissued a “buy” rating on shares of Apple in a research report on Wednesday, September 10th. Tigress Financial increased their price objective on shares of Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research report on Wednesday. Barclays increased their price objective on shares of Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a research report on Friday, August 1st. Morgan Stanley set a $240.00 price objective on shares of Apple and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Finally, Sanford C. Bernstein initiated coverage on shares of Apple in a research report on Monday. They set an “outperform” rating and a $290.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $241.93.

Apple Stock Up 0.4%

Shares of AAPL stock opened at $238.99 on Thursday. The firm has a market cap of $3.55 trillion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 2.47 and a beta of 1.11. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The stock has a 50 day moving average of $223.15 and a 200-day moving average of $212.36.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion for 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 business’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.40 earnings per share. On average, equities analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 15.78%.

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.