RMR Wealth Builders Acquires 6,047 Shares of Apple Inc. (NASDAQ:AAPL)

RMR Wealth Builders boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 5.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 120,567 shares of the iPhone maker’s stock after buying an additional 6,047 shares during the period. Apple makes up about 2.5% of RMR Wealth Builders’ investment portfolio, making the stock its 10th biggest position. RMR Wealth Builders’ holdings in Apple were worth $20,675,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Wyrmwood Management LLC increased its stake in Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after purchasing an additional 69 shares in the last quarter. A.P. Gilfoyle & Co. L.P. bought a new stake in Apple in the fourth quarter valued at approximately $39,000. Gilfoyle & Co LLC increased its stake in Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after purchasing an additional 118 shares in the last quarter. University of Texas Texas AM Investment Managment Co. increased its stake in Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. bought a new stake in Apple in the fourth quarter valued at approximately $85,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

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

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $90.75 billion during the quarter, compared to analysts’ expectations of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. Apple’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.52 EPS. On average, sell-side analysts anticipate that Apple Inc. will post 6.59 EPS for the current year.

Apple declared that its board has initiated a share buyback plan on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Friday, May 10th. This is a boost from Apple’s previous quarterly dividend of $0.24. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,999 shares of Apple 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 completion of the sale, the insider now owns 29,278 shares in the company, valued at approximately $5,574,531.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Luca Maestri sold 53,194 shares of the business’s 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 transaction, the chief financial officer now owns 107,788 shares in the company, valued at approximately $18,768,046.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,999 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the transaction, the insider now owns 29,278 shares in the company, valued at approximately $5,574,531.20. The disclosure for this sale can be found here. Insiders sold 192,355 shares of company stock worth $34,771,329 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on AAPL shares. Loop Capital lowered their target price on shares of Apple from $185.00 to $170.00 and set a “hold” rating for the company in a research note on Monday, April 1st. Itau BBA Securities raised shares of Apple from an “underperform” rating to a “market perform” rating and upped their target price for the company from $162.00 to $188.00 in a research note on Friday, May 3rd. JPMorgan Chase & Co. increased their price objective on shares of Apple from $225.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. Citigroup lowered their price objective on shares of Apple from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $220.00 price objective on shares of Apple in a research report on Monday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $215.71.

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.