Robinson Smith Wealth Advisors LLC Increases Position in Apple Inc. (NASDAQ:AAPL)

Robinson Smith Wealth Advisors LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 18.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,078 shares of the iPhone maker’s stock after buying an additional 3,186 shares during the period. Apple accounts for 3.7% of Robinson Smith Wealth Advisors LLC’s portfolio, making the stock its 5th largest position. Robinson Smith Wealth Advisors LLC’s holdings in Apple were worth $4,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of AAPL. Hantz Financial Services Inc. purchased a new stake in Apple in the second quarter worth $67,071,000. DiNuzzo Private Wealth Inc. grew its position in shares of Apple by 5.7% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 4,264 shares of the iPhone maker’s stock worth $898,000 after buying an additional 230 shares during the period. Wolf Group Capital Advisors grew its position in shares of Apple by 9.9% in the 2nd quarter. Wolf Group Capital Advisors now owns 44,285 shares of the iPhone maker’s stock worth $9,327,000 after buying an additional 3,979 shares during the period. Kings Path Partners LLC bought a new position in shares of Apple in the 2nd quarter worth about $322,000. Finally, TFB Advisors LLC lifted its position in Apple by 17.1% during the 2nd quarter. TFB Advisors LLC now owns 28,652 shares of the iPhone maker’s stock valued at $6,035,000 after acquiring an additional 4,181 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

NASDAQ AAPL opened at $229.54 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23. The business has a 50-day moving average price of $223.10 and a 200-day moving average price of $204.97. The firm has a market cap of $3.52 trillion, a price-to-earnings ratio of 35.70, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24.

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

Apple Announces Dividend

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

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value 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 approximately $111,148,695.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were 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 directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 517,924 shares of company stock valued at $114,786,399. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AAPL. Maxim Group reaffirmed a “hold” rating and set a $203.00 target price on shares of Apple in a research note on Tuesday, September 10th. Evercore ISI reaffirmed a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. Barclays reissued an “underweight” rating and issued a $186.00 target price on shares of Apple in a report on Tuesday, October 1st. Piper Sandler restated a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday. Finally, Citigroup reiterated a “buy” rating and issued a $255.00 price target on shares of Apple in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.27.

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.