RPg Family Wealth Advisory LLC Acquires 2,552 Shares of Apple Inc. (NASDAQ:AAPL)

RPg Family Wealth Advisory LLC raised its holdings in Apple Inc. (NASDAQ:AAPL) by 5.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 46,808 shares of the iPhone maker’s stock after buying an additional 2,552 shares during the quarter. Apple makes up 3.3% of RPg Family Wealth Advisory LLC’s investment portfolio, making the stock its 2nd largest position. RPg Family Wealth Advisory LLC’s holdings in Apple were worth $9,012,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Kingdom Financial Group LLC. lifted its stake in shares of Apple by 5.5% in the third quarter. Kingdom Financial Group LLC. now owns 11,464 shares of the iPhone maker’s stock valued at $1,963,000 after purchasing an additional 598 shares during the period. RFG Advisory LLC increased its holdings in Apple by 13.6% in the third quarter. RFG Advisory LLC now owns 172,823 shares of the iPhone maker’s stock valued at $29,589,000 after buying an additional 20,737 shares in the last quarter. Headinvest LLC lifted its position in shares of Apple by 1.7% during the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after acquiring an additional 872 shares during the period. Sound Income Strategies LLC boosted its stake in shares of Apple by 16.1% during the 4th quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock worth $14,461,000 after acquiring an additional 10,425 shares in the last quarter. Finally, DNB Asset Management AS grew its holdings in shares of Apple by 6.9% in the 4th quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock worth $829,240,000 after acquiring an additional 279,311 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Trading Up 0.6 %

Shares of AAPL opened at $166.90 on Wednesday. Apple Inc. has a twelve month low of $162.80 and a twelve month high of $199.62. The firm has a market capitalization of $2.58 trillion, a P/E ratio of 26.00, a price-to-earnings-growth ratio of 1.99 and a beta of 1.27. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. The stock’s fifty day simple moving average is $173.88 and its 200 day simple moving average is $182.03.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, topping the consensus estimate of $2.09 by $0.09. The company had revenue of $119.60 billion during the quarter, compared to analyst estimates of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.88 earnings per share. On average, equities research analysts forecast that Apple Inc. will post 6.54 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 dividend on an annualized basis and a yield of 0.58%. Apple’s dividend payout ratio (DPR) is 14.95%.

Insiders Place Their Bets

In other news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the transaction, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The disclosure for this sale can be found here. Insiders sold a total of 366,271 shares of company stock worth $63,653,887 over the last ninety days. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

AAPL has been the subject of several research reports. Barclays reaffirmed an “underweight” rating and set a $158.00 price objective on shares of Apple in a report on Tuesday. Piper Sandler Companies downgraded Apple to a “neutral” rating and cut their price target for the stock from $220.00 to $205.00 in a research note on Thursday, January 4th. Maxim Group started coverage on shares of Apple in a research note on Wednesday, April 17th. They issued a “hold” rating and a $178.00 price objective on the stock. Bank of America upgraded shares of Apple from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $208.00 to $225.00 in a research report on Thursday, January 18th. Finally, Loop Capital lowered their price target on shares of Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $203.05.

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.