Apple Inc. (NASDAQ:AAPL) is Rappaport Reiches Capital Management LLC’s 5th Largest Position

Rappaport Reiches Capital Management LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 5.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 105,358 shares of the iPhone maker’s stock after acquiring an additional 5,241 shares during the period. Apple comprises approximately 6.5% of Rappaport Reiches Capital Management LLC’s portfolio, making the stock its 5th largest position. Rappaport Reiches Capital Management LLC’s holdings in Apple were worth $24,548,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hershey Financial Advisers LLC bought a new stake in Apple in the second quarter worth $42,000. Christopher J. Hasenberg Inc lifted its stake in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the last quarter. Hoese & Co LLP lifted its stake in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the last quarter. Sage Financial Group Inc. bought a new stake in Apple in the second quarter worth $206,000. Finally, Benchmark Wealth Management LLC bought a new stake in Apple in the second quarter worth $208,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock worth $92,007,745 over the last 90 days. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

Shares of AAPL opened at $234.93 on Friday. The stock has a market cap of $3.55 trillion, a PE ratio of 38.64, a price-to-earnings-growth ratio of 2.28 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The firm’s 50-day simple moving average is $228.83 and its two-hundred day simple moving average is $219.23.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 earnings per share. Analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is 16.45%.

Analyst Ratings Changes

AAPL has been the subject of several recent research reports. Morgan Stanley reissued an “overweight” rating and issued a $273.00 price target on shares of Apple in a research note on Monday. New Street Research reissued a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Rosenblatt Securities upped their price objective on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, UBS Group upped their price objective on shares of Apple to $236.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $235.25.

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.