Requisite Capital Management LLC Buys 792 Shares of Apple Inc. $AAPL

Requisite Capital Management LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 16.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,736 shares of the iPhone maker’s stock after acquiring an additional 792 shares during the period. Apple accounts for about 0.3% of Requisite Capital Management LLC’s investment portfolio, making the stock its 28th biggest position. Requisite Capital Management LLC’s holdings in Apple were worth $1,177,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Burkett Financial Services LLC raised its stake in shares of Apple by 0.6% during the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock worth $3,199,000 after buying an additional 93 shares during the last quarter. Avid Wealth Partners LLC raised its stake in shares of Apple by 28.3% during the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after buying an additional 930 shares during the last quarter. Bell & Brown Wealth Advisors LLC raised its stake in shares of Apple by 0.4% during the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after buying an additional 240 shares during the last quarter. American National Bank & Trust raised its stake in shares of Apple by 2.4% during the second quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock worth $40,107,000 after buying an additional 4,543 shares during the last quarter. Finally, Andina Capital Management LLC raised its stake in shares of Apple by 209.2% during the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after buying an additional 4,591 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Tigress Financial boosted their price target on shares of Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 17th. DA Davidson reissued a “neutral” rating and set a $250.00 price target on shares of Apple in a research note on Thursday, September 11th. Monness Crespi & Hardt upped their target price on shares of Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Melius Research set a $290.00 target price on shares of Apple and gave the company a “buy” rating in a research note on Wednesday, September 10th. Finally, HSBC set a $220.00 target price on shares of Apple and gave the company a “hold” rating in a research note on Monday, September 8th. Four investment 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 given a Sell rating to the company. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $248.29.

Insider Activity

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction on Thursday, October 2nd. The shares were 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 owned 179,158 shares in the company, valued at $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the transaction, the chief executive officer directly owned 3,280,295 shares in the company, valued at $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 259,121 shares of company stock worth $65,358,981. 0.06% of the stock is owned by insiders.

Apple Trading Up 2.0%

Apple stock opened at $252.29 on Friday. The firm has a 50-day moving average of $241.13 and a 200-day moving average of $216.81. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. 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 company has a market cap of $3.74 trillion, a price-to-earnings ratio of 38.28, a P/E/G ratio of 2.46 and a beta of 1.09.

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

Apple Dividend Announcement

The company 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. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is currently 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.