RPg Family Wealth Advisory LLC Has $9.73 Million Stake in Apple Inc. (NASDAQ:AAPL)

RPg Family Wealth Advisory LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,190 shares of the iPhone maker’s stock after selling 260 shares during the quarter. Apple accounts for approximately 3.2% of RPg Family Wealth Advisory LLC’s portfolio, making the stock its 2nd largest position. RPg Family Wealth Advisory LLC’s holdings in Apple were worth $9,729,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. Searcy Financial Services Inc. ADV increased its stake in Apple by 2.6% during the 1st quarter. Searcy Financial Services Inc. ADV now owns 49,490 shares of the iPhone maker’s stock valued at $8,487,000 after purchasing an additional 1,241 shares in the last quarter. Griffin Asset Management Inc. increased its stake in Apple by 2.6% during the 1st quarter. Griffin Asset Management Inc. now owns 197,080 shares of the iPhone maker’s stock valued at $33,795,000 after purchasing an additional 4,980 shares in the last quarter. Grimes & Company Inc. increased its stake in Apple by 9.5% during the 1st quarter. Grimes & Company Inc. now owns 446,017 shares of the iPhone maker’s stock valued at $76,483,000 after purchasing an additional 38,608 shares in the last quarter. Meritas Wealth Management LLC boosted its holdings in Apple by 0.4% during the 1st quarter. Meritas Wealth Management LLC now owns 41,527 shares of the iPhone maker’s stock worth $7,121,000 after acquiring an additional 150 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. boosted its holdings in Apple by 0.8% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 86,035 shares of the iPhone maker’s stock worth $14,753,000 after acquiring an additional 690 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Evercore ISI reaffirmed a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Bank of America reaffirmed a “buy” rating and set a $256.00 price objective on shares of Apple in a report on Thursday, October 3rd. Oppenheimer reaffirmed a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a report on Friday, October 25th. Finally, Maxim Group lifted their price objective on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

Insider Activity at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 417,924 shares of company stock worth $94,142,399 in the last ninety days. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

NASDAQ AAPL opened at $223.45 on Wednesday. The firm has a market cap of $3.40 trillion, a price-to-earnings ratio of 36.75, a PEG ratio of 2.39 and a beta of 1.24. The company has a 50 day moving average of $226.98 and a 200-day moving average of $213.44. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49.

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 analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 earnings per share. On average, equities analysts forecast that Apple Inc. will post 7.45 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s dividend payout ratio is currently 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.