RFP Financial Group LLC Sells 6,504 Shares of Apple Inc. (NASDAQ:AAPL)

RFP Financial Group LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 7.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 76,897 shares of the iPhone maker’s stock after selling 6,504 shares during the quarter. Apple accounts for about 5.8% of RFP Financial Group LLC’s holdings, making the stock its 4th largest holding. RFP Financial Group LLC’s holdings in Apple were worth $17,905,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Carolina Wealth Advisors LLC lifted its holdings in shares of Apple by 1.3% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after purchasing an additional 46 shares during the last quarter. Verus Financial Partners Inc. increased its position in Apple by 0.3% during the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after buying an additional 48 shares during the period. Brown Financial Advisory lifted its stake in Apple by 3.8% in the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after buying an additional 50 shares during the last quarter. Core Wealth Management Inc. lifted its stake in Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after buying an additional 50 shares during the last quarter. Finally, Lowery Thomas LLC boosted its holdings in shares of Apple by 0.7% in the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after acquiring an additional 50 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Up 1.0 %

Shares of NASDAQ AAPL opened at $253.48 on Wednesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm’s 50-day moving average is $233.64 and its two-hundred day moving average is $224.73. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $253.83. The company has a market capitalization of $3.83 trillion, a PE ratio of 41.69, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23.

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

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. Apple’s dividend payout ratio (DPR) is 16.45%.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. The trade was a 35.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 408,170 shares of company stock worth $92,007,745. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AAPL shares. Rosenblatt Securities upped their price target on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Evercore ISI restated a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Thursday, September 26th. Citigroup increased their target price on shares of Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price objective on shares of Apple in a research note on Friday, December 13th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $236.78.

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.