Apple Inc. $AAPL Stock Holdings Lessened by RKL Wealth Management LLC

RKL Wealth Management LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 131,585 shares of the iPhone maker’s stock after selling 2,427 shares during the period. Apple comprises 2.4% of RKL Wealth Management LLC’s holdings, making the stock its 8th largest position. RKL Wealth Management LLC’s holdings in Apple were worth $26,997,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Kingstone Capital Partners Texas LLC raised its stake in shares of Apple by 573,627.2% in 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 buying an additional 205,656,808 shares during the period. Nuveen LLC bought a new stake in shares of Apple in the first quarter valued at $17,472,482,000. GAMMA Investing LLC raised its stake in shares of Apple by 25,934.1% in the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock valued at $133,425,490,000 after buying an additional 59,835,676 shares during the period. Northern Trust Corp raised its stake in shares of Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after buying an additional 20,079,472 shares during the period. Finally, Amundi raised its stake in shares of Apple by 27.4% in the first quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock valued at $13,870,795,000 after buying an additional 14,651,321 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the transaction, the senior vice president directly owned 136,687 shares in the company, valued at $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of the business’s 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 transaction, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at approximately $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. Insiders have sold 259,121 shares of company stock valued at $65,358,981 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $262.77 on Wednesday. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $265.29. The business’s fifty day moving average is $242.49 and its 200 day moving average is $217.74. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a market cap of $3.90 trillion, a price-to-earnings ratio of 39.87, a PEG ratio of 2.55 and a beta of 1.09.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 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 business had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. During the same period in the previous year, the business earned $1.40 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. Research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given a dividend of $0.26 per share. 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%.

Analyst Upgrades and Downgrades

AAPL has been the topic of several research reports. Jefferies Financial Group lowered Apple from a “hold” rating to an “underperform” rating and lowered their target price for the company from $205.82 to $205.16 in a research note on Friday, October 3rd. HSBC set a $220.00 target price on Apple and gave the company a “hold” rating in a research note on Monday, September 8th. Citigroup restated a “buy” rating on shares of Apple in a research note on Wednesday, September 10th. Phillip Securities lowered Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price objective on the stock. in a research note on Thursday, September 11th. Finally, Barclays boosted their price objective on Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a research note on Friday, August 1st. Four research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.47.

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.