RB Capital Management LLC Buys 90,662 Shares of Apple Inc. $AAPL

RB Capital Management LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 48.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 278,958 shares of the iPhone maker’s stock after buying an additional 90,662 shares during the quarter. Apple accounts for about 13.0% of RB Capital Management LLC’s holdings, making the stock its biggest position. RB Capital Management LLC’s holdings in Apple were worth $57,234,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Apple in the fourth quarter worth approximately $46,868,648,000. Nuveen LLC bought a new stake in Apple in the first quarter worth approximately $17,472,482,000. GAMMA Investing LLC grew its position in Apple by 25,934.1% in the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after acquiring an additional 59,835,676 shares in the last quarter. Vanguard Group Inc. grew its position in Apple by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker’s stock worth $349,532,608,000 after acquiring an additional 49,168,843 shares in the last quarter. Finally, Northern Trust Corp grew its position in Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Citigroup reissued a “buy” rating on shares of Apple in a research report on Wednesday, September 10th. Loop Capital decreased their price objective on shares of Apple from $230.00 to $226.00 and set a “hold” rating for the company in a report on Thursday, August 21st. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, August 13th. JPMorgan Chase & Co. upped their price objective on shares of Apple from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Barclays upped their price objective on shares of 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 Strong Buy rating, fifteen have given a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $241.93.

Apple Stock Up 0.4%

Shares of NASDAQ:AAPL opened at $238.99 on Thursday. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company’s 50-day moving average price is $223.15 and its two-hundred day moving average price is $212.36. 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 firm has a market cap of $3.55 trillion, a P/E ratio of 36.27, a P/E/G ratio of 2.47 and a beta of 1.11.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The company’s revenue was up 9.6% on a year-over-year basis. As a group, research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

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

Insider Activity

In other news, SVP Deirdre O’brien sold 34,821 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.06% of the company’s stock.

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.