RDA Financial Network Sells 2,164 Shares of Apple Inc. (NASDAQ:AAPL)

RDA Financial Network decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 5.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,662 shares of the iPhone maker’s stock after selling 2,164 shares during the quarter. Apple makes up approximately 2.3% of RDA Financial Network’s holdings, making the stock its 7th biggest holding. RDA Financial Network’s holdings in Apple were worth $6,801,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Norges Bank acquired a new stake in shares of Apple in the fourth quarter valued at approximately $33,912,466,000. International Assets Investment Management LLC increased its stake in shares of Apple by 14,395.4% in the fourth quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock valued at $136,119,470,000 after purchasing an additional 70,212,651 shares during the period. Vanguard Group Inc. increased its stake in shares of Apple by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after purchasing an additional 18,067,216 shares during the period. Cerity Partners LLC increased its stake in shares of Apple by 130.1% in the fourth quarter. Cerity Partners LLC now owns 9,430,190 shares of the iPhone maker’s stock valued at $1,815,594,000 after purchasing an additional 5,331,439 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Apple in the fourth quarter valued at approximately $560,388,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AAPL. Sanford C. Bernstein raised their price target on shares of Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. Maxim Group raised their price objective on shares of Apple from $178.00 to $195.00 and gave the company a “hold” rating in a research note on Tuesday. Rosenblatt Securities upgraded shares of Apple from a “neutral” rating to a “buy” rating and raised their price objective for the company from $196.00 to $260.00 in a research note on Wednesday. Canaccord Genuity Group raised their price objective on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Saturday, May 4th. Finally, Bank of America reiterated a “buy” rating and set a $230.00 price objective on shares of Apple in a research note on Wednesday. One 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $214.29.

Insider Activity

In other news, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the sale, the senior vice president now directly owns 136,572 shares in the company, valued at approximately $23,068,376.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Apple news, insider Chris Kondo sold 4,999 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the transaction, the insider now directly owns 29,278 shares in the company, valued at $5,574,531.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Deirdre O’brien sold 54,732 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the transaction, the senior vice president now owns 136,572 shares in the company, valued at $23,068,376.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 346,270 shares of company stock worth $60,880,196. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $214.10 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. The firm has a market capitalization of $3.28 trillion, a price-to-earnings ratio of 33.30, a P/E/G ratio of 2.54 and a beta of 1.25. The company’s fifty day moving average is $190.27 and its two-hundred day moving average is $185.14. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $220.20.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share 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 business had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. During the same period in the previous year, the business earned $1.52 EPS. The firm’s revenue was down 4.3% on a year-over-year basis. Equities research analysts forecast that Apple Inc. will post 6.58 EPS for the current year.

Apple Increases Dividend

The firm also recently announced 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. This is a positive change from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Friday, May 10th. Apple’s payout ratio is 15.55%.

Apple declared that its board has approved a share buyback plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Apple 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.