RBO & Co. LLC Lowers Holdings in Apple Inc. (NASDAQ:AAPL)

RBO & Co. LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 1.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,864 shares of the iPhone maker’s stock after selling 1,238 shares during the period. Apple makes up 2.6% of RBO & Co. LLC’s holdings, making the stock its 18th biggest holding. RBO & Co. LLC’s holdings in Apple were worth $16,744,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its holdings in Apple by 20,372.7% during the 3rd quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after purchasing an additional 93,886,664 shares during the period. FMR LLC grew its position in shares of Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker’s stock worth $84,779,231,000 after buying an additional 18,224,005 shares in the last quarter. Strategic Financial Concepts LLC increased its stake in shares of Apple by 14,145.8% during the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after buying an additional 7,558,826 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Apple by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 94,942,731 shares of the iPhone maker’s stock valued at $22,121,656,000 after acquiring an additional 5,893,741 shares in the last quarter. Finally, Pathway Financial Advisers LLC lifted its stake in Apple by 22,870.6% in the third quarter. Pathway Financial Advisers LLC now owns 5,590,588 shares of the iPhone maker’s stock worth $1,302,607,000 after acquiring an additional 5,566,250 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction that occurred 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 sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price objective on shares of Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Apple in a research note on Friday, January 31st. Bank of America lifted their price target on Apple from $253.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Piper Sandler reissued a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Finally, Monness Crespi & Hardt boosted their target price on Apple to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $242.52.

Apple Stock Performance

Shares of AAPL opened at $232.80 on Wednesday. The stock has a market capitalization of $3.50 trillion, a P/E ratio of 36.95, a P/E/G ratio of 2.36 and a beta of 1.20. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The company’s fifty day moving average is $241.58 and its two-hundred day moving average is $230.89.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, sell-side analysts predict that Apple Inc. will post 7.33 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders of record on Monday, February 10th will be paid 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 of this dividend is Monday, February 10th. Apple’s dividend payout ratio (DPR) is 15.87%.

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.