RPS Advisory Solutions LLC Makes New $18.50 Million Investment in Apple Inc. (NASDAQ:AAPL)

RPS Advisory Solutions LLC acquired a new stake in Apple Inc. (NASDAQ:AAPL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 87,835 shares of the iPhone maker’s stock, valued at approximately $18,500,000. Apple accounts for approximately 17.1% of RPS Advisory Solutions LLC’s investment portfolio, making the stock its biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Christopher J. Hasenberg Inc acquired a new stake in shares of Apple in the 1st quarter worth about $35,000. Fidelis Capital Partners LLC increased its stake in shares of Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after acquiring an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. bought a new stake in shares of Apple in the 4th quarter worth $39,000. University of Texas Texas AM Investment Managment Co. lifted its holdings in Apple by 657.1% in the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after acquiring an additional 368 shares during the last quarter. Finally, Clarity Asset Management Inc. acquired a new stake in Apple during the fourth quarter valued at approximately $85,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Sanford C. Bernstein upped their price target on shares of Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. Erste Group Bank raised Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Tuesday, September 10th. UBS Group raised their price objective on shares of Apple from $190.00 to $236.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price target on shares of Apple in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $238.76.

Insider Activity at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,884 shares of company stock worth $23,723,887. Company insiders own 0.06% of the company’s stock.

Apple Stock Up 0.1 %

Apple stock opened at $227.79 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The company has a fifty day simple moving average of $222.19 and a 200 day simple moving average of $202.38. The company has a market cap of $3.49 trillion, a P/E ratio of 35.43, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter in the prior year, the business posted $1.26 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. Research analysts anticipate that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio is 15.55%.

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.