RKL Wealth Management LLC Raises Stake in Apple Inc. (NASDAQ:AAPL)

RKL Wealth Management LLC lifted its stake in Apple Inc. (NASDAQ:AAPL) by 0.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,526 shares of the iPhone maker’s stock after acquiring an additional 139 shares during the period. Apple makes up 2.4% of RKL Wealth Management LLC’s portfolio, making the stock its 8th largest holding. RKL Wealth Management LLC’s holdings in Apple were worth $26,219,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bull Oak Capital LLC raised its position in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after buying an additional 111 shares during the last quarter. Hershey Financial Advisers LLC bought a new stake in shares of Apple in the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc grew its holdings in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares in the last quarter. ARK Investment Management LLC bought a new stake in shares of Apple during the third quarter valued at approximately $110,000. Finally, Cordant Inc. raised its stake in shares of Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after purchasing an additional 173 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Activity at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction 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 completion of the sale, the insider now 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. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $237.87 on Thursday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a market capitalization of $3.58 trillion, a price-to-earnings ratio of 39.12, a PEG ratio of 2.41 and a beta of 1.20. The firm has a fifty day moving average of $240.63 and a two-hundred day moving average of $230.52.

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

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.42%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is 16.45%.

Analyst Ratings Changes

Several brokerages have issued reports on AAPL. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a report on Friday, October 25th. New Street Research reissued a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. Wells Fargo & Company raised their price target on shares of Apple to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Barclays boosted their price target on Apple to $184.00 and gave the company a “sell” rating in a research note on Friday, January 10th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $239.85.

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.