Rockport Wealth LLC Increases Holdings in Apple Inc. (NASDAQ:AAPL)

Rockport Wealth LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1,118.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 77,501 shares of the iPhone maker’s stock after purchasing an additional 71,141 shares during the period. Apple accounts for about 6.9% of Rockport Wealth LLC’s investment portfolio, making the stock its 4th biggest holding. Rockport Wealth LLC’s holdings in Apple were worth $16,323,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Verus Financial Partners Inc. lifted its position in shares of Apple by 0.3% during the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after buying an additional 48 shares during the last quarter. Brown Financial Advisory raised its stake in shares of Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after acquiring an additional 50 shares in the last quarter. Core Wealth Management Inc. raised its stake in shares of Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after acquiring an additional 50 shares in the last quarter. Lowery Thomas LLC lifted its position in Apple by 0.7% during 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 last quarter. Finally, Klein Pavlis & Peasley Financial Inc. boosted its stake in Apple by 1.1% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock valued at $949,000 after acquiring an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 8,706 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $1,958,850.00. Following the sale, the insider now 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 disclosure for this sale can be found here. In the last quarter, insiders sold 417,924 shares of company stock valued at $94,142,399. 0.06% of the stock is owned by corporate insiders.

Apple Trading Up 0.6 %

Shares of Apple stock opened at $223.45 on Wednesday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. 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 company has a market cap of $3.40 trillion, a P/E ratio of 36.75, a price-to-earnings-growth ratio of 2.39 and a beta of 1.24. The firm has a 50-day simple moving average of $226.98 and a two-hundred day simple moving average of $213.44.

Apple (NASDAQ:AAPL) last issued its quarterly 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 company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.46 earnings per share. As a group, equities analysts predict that Apple Inc. will post 7.45 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s dividend payout ratio is currently 16.45%.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several analyst reports. Piper Sandler reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, October 9th. UBS Group reiterated a “hold” rating and issued a $236.00 price target on shares of Apple in a research note on Wednesday, October 16th. New Street Research reissued a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. Robert W. Baird upped their price objective on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $235.51.

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.