Apple Inc. (NASDAQ:AAPL) Stock Holdings Lifted by RMR Wealth Builders

RMR Wealth Builders increased its position in Apple Inc. (NASDAQ:AAPL) by 5.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 120,567 shares of the iPhone maker’s stock after purchasing an additional 6,047 shares during the period. Apple makes up 2.5% of RMR Wealth Builders’ holdings, making the stock its 10th biggest holding. RMR Wealth Builders’ holdings in Apple were worth $20,675,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Conservest Capital Advisors Inc. boosted its holdings in Apple by 0.3% in the third quarter. Conservest Capital Advisors Inc. now owns 16,802 shares of the iPhone maker’s stock valued at $2,877,000 after acquiring an additional 55 shares in the last quarter. Flagstone Financial Management boosted its holdings in Apple by 0.9% in the fourth quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock valued at $1,173,000 after acquiring an additional 56 shares in the last quarter. High Pines Wealth Management LLC boosted its holdings in Apple by 0.7% in the fourth quarter. High Pines Wealth Management LLC now owns 8,506 shares of the iPhone maker’s stock valued at $1,638,000 after acquiring an additional 58 shares in the last quarter. Asset Planning Corporation boosted its holdings in Apple by 1.0% in the fourth quarter. Asset Planning Corporation now owns 6,135 shares of the iPhone maker’s stock valued at $1,181,000 after acquiring an additional 59 shares in the last quarter. Finally, Columbus Macro LLC boosted its holdings in Apple by 0.5% in the fourth quarter. Columbus Macro LLC now owns 11,224 shares of the iPhone maker’s stock valued at $2,120,000 after acquiring an additional 59 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Luca Maestri sold 53,194 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Luca Maestri sold 53,194 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total value of $9,262,139.28. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $18,768,046.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 59,162 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $84,378,155.68. The disclosure for this sale can be found here. Insiders sold 192,355 shares of company stock valued at $34,771,329 in the last quarter. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

NASDAQ AAPL opened at $220.27 on Wednesday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $220.38. The firm has a market capitalization of $3.38 trillion, a P/E ratio of 34.26, a PEG ratio of 2.56 and a beta of 1.24. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average price of $193.14 and a 200-day moving average price of $185.44.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The firm had revenue of $90.75 billion during the quarter, compared to analyst estimates of $90.37 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities research analysts anticipate that Apple Inc. will post 6.59 earnings per share for the current year.

Apple announced that its board has initiated a stock buyback program on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were given a dividend of $0.25 per share. The ex-dividend date was Friday, May 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. This is a positive change from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio is presently 15.55%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AAPL shares. Sanford C. Bernstein lifted their price target on shares of Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, June 21st. DZ Bank restated a “hold” rating and set a $180.00 target price on shares of Apple in a report on Thursday, March 28th. Monness Crespi & Hardt restated a “buy” rating and set a $205.00 target price on shares of Apple in a report on Thursday, June 6th. Wedbush boosted their target price on shares of Apple from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Finally, Itau BBA Securities upgraded shares of Apple from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $162.00 to $188.00 in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.71.

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.