Riggs Asset Managment Co. Inc. Has $11.75 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Riggs Asset Managment Co. Inc. lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.6% during the 3rd quarter, Holdings Channel reports. The firm owned 50,439 shares of the iPhone maker’s stock after purchasing an additional 1,741 shares during the period. Apple makes up 3.2% of Riggs Asset Managment Co. Inc.’s holdings, making the stock its 5th largest holding. Riggs Asset Managment Co. Inc.’s holdings in Apple were worth $11,752,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC grew its stake in Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after buying an additional 93,886,664 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Apple by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after acquiring an additional 2,785,807 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Apple by 6.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after acquiring an additional 3,245,281 shares in the last quarter. American Century Companies Inc. raised its position in Apple by 3.2% during the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after purchasing an additional 1,065,759 shares in the last quarter. Finally, Swedbank AB lifted its stake in Apple by 13.4% during the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after purchasing an additional 2,359,409 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AAPL has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Monness Crespi & Hardt reissued a “buy” rating and set a $245.00 target price on shares of Apple in a research note on Monday, September 9th. Wedbush raised their price target on shares of Apple from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday. Evercore ISI reiterated a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. Finally, New Street Research restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has assigned 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 $237.47.

Insider Activity at Apple

In other news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 508,170 shares of company stock valued at $117,004,745 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

Apple stock opened at $255.59 on Friday. The stock’s 50 day moving average price is $237.41 and its two-hundred day moving average price is $227.65. The stock has a market capitalization of $3.86 trillion, a price-to-earnings ratio of 42.04, a PEG ratio of 2.41 and a beta of 1.23. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period in the prior year, the firm earned $1.46 earnings per share. Apple’s revenue was up 6.1% on a year-over-year basis. On average, equities analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is 16.45%.

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.