Royal Capital Wealth Management LLC Raises Holdings in Apple Inc. (NASDAQ:AAPL)

Royal Capital Wealth Management LLC grew its stake in Apple Inc. (NASDAQ:AAPL) by 4.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,929 shares of the iPhone maker’s stock after acquiring an additional 1,174 shares during the quarter. Apple accounts for 4.1% of Royal Capital Wealth Management LLC’s portfolio, making the stock its 6th biggest holding. Royal Capital Wealth Management LLC’s holdings in Apple were worth $5,461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of AAPL. Nvest Financial LLC increased its holdings in shares of Apple by 3.9% in the 1st quarter. Nvest Financial LLC now owns 34,386 shares of the iPhone maker’s stock worth $5,896,000 after purchasing an additional 1,299 shares in the last quarter. Myecfo LLC lifted its stake in Apple by 2.5% during the 1st quarter. Myecfo LLC now owns 15,356 shares of the iPhone maker’s stock valued at $2,633,000 after acquiring an additional 376 shares during the period. Naviter Wealth LLC boosted its holdings in shares of Apple by 25.4% during the 1st quarter. Naviter Wealth LLC now owns 91,088 shares of the iPhone maker’s stock valued at $15,620,000 after acquiring an additional 18,441 shares during the last quarter. Saxon Interests Inc. grew its stake in shares of Apple by 8.9% in the first quarter. Saxon Interests Inc. now owns 41,398 shares of the iPhone maker’s stock worth $7,099,000 after acquiring an additional 3,383 shares during the period. Finally, MBM Wealth Consultants LLC raised its holdings in shares of Apple by 4.5% during the first quarter. MBM Wealth Consultants LLC now owns 13,278 shares of the iPhone maker’s stock valued at $2,277,000 after purchasing an additional 575 shares during the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 59,305 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the sale, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 412,746 shares of company stock valued at $93,021,362. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $224.23 on Tuesday. The company has a market cap of $3.39 trillion, a price-to-earnings ratio of 36.88, a PEG ratio of 2.22 and a beta of 1.24. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The stock’s 50 day simple moving average is $226.82 and its two-hundred day simple moving average is $214.68. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share 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 company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the business posted $1.46 earnings per share. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s dividend payout ratio is 16.45%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wedbush restated an “outperform” rating and issued a $285.00 target price on shares of Apple in a report on Monday, September 9th. Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 target price on shares of Apple in a report on Monday, September 9th. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Bank of America reiterated a “buy” rating and issued a $256.00 price objective on shares of Apple in a research note on Thursday, October 3rd. Finally, Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and boosted their target price for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $235.51.

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.