Apple Inc. $AAPL Shares Bought by RBA Wealth Management LLC

RBA Wealth Management LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,169 shares of the iPhone maker’s stock after buying an additional 399 shares during the period. Apple accounts for approximately 3.2% of RBA Wealth Management LLC’s holdings, making the stock its 3rd biggest holding. RBA Wealth Management LLC’s holdings in Apple were worth $8,652,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. Kingstone Capital Partners Texas LLC lifted its stake in shares of Apple by 573,627.2% during the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock valued at $39,065,374,000 after acquiring an additional 205,656,808 shares during the period. Nuveen LLC bought a new stake in Apple during the 1st quarter worth about $17,472,482,000. GAMMA Investing LLC raised its holdings in Apple by 25,934.1% during 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 last quarter. Northern Trust Corp boosted its stake in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. Finally, Amundi grew its position in shares of Apple by 27.4% during the 1st quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock worth $13,870,795,000 after buying an additional 14,651,321 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $247.66 on Tuesday. The stock’s fifty day simple moving average is $238.50 and its 200 day simple moving average is $216.04. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $3.68 trillion, a PE ratio of 37.58, a PEG ratio of 2.39 and a beta of 1.09. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last announced 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 return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the prior year, the company earned $1.40 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AAPL shares. UBS Group restated a “neutral” rating on shares of Apple in a report on Monday, September 8th. Moffett Nathanson upgraded shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price for the company in a research report on Thursday, September 4th. Citigroup reissued a “buy” rating on shares of Apple in a research note on Wednesday, September 10th. Sanford C. Bernstein began coverage on Apple in a research note on Monday, September 15th. They set an “outperform” rating and a $290.00 price objective for the company. Finally, Tigress Financial upped their price objective on Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 17th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $248.29.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the sale, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the sale, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,922 shares of company stock worth $64,320,190 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

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.