RBA Wealth Management LLC Has $10.52 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

RBA Wealth Management LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,996 shares of the iPhone maker’s stock after selling 1,423 shares during the period. Apple accounts for 4.0% of RBA Wealth Management LLC’s portfolio, making the stock its 2nd biggest position. RBA Wealth Management LLC’s holdings in Apple were worth $10,517,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. AMF Tjanstepension AB lifted its position in shares of Apple by 21.1% during the 3rd quarter. AMF Tjanstepension AB now owns 3,380,064 shares of the iPhone maker’s stock valued at $787,631,000 after acquiring an additional 588,427 shares during the last quarter. Thomasville National Bank grew its stake in Apple by 6.6% during the 3rd quarter. Thomasville National Bank now owns 264,740 shares of the iPhone maker’s stock valued at $61,684,000 after acquiring an additional 16,478 shares in the last quarter. High Net Worth Advisory Group LLC grew its position in Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after purchasing an additional 1,066 shares in the last quarter. Svenska Handelsbanken AB publ purchased a new position in shares of Apple during the 3rd quarter valued at $32,146,000. Finally, Orca Investment Management LLC grew its stake in Apple by 5.6% in the third quarter. Orca Investment Management LLC now owns 40,046 shares of the iPhone maker’s stock valued at $9,331,000 after purchasing an additional 2,116 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Maxim Group increased their price target on shares of Apple to $215.00 and gave the stock a “hold” rating in a research note on Friday, February 21st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $262.00 price target on shares of Apple in a research report on Monday, January 27th. Loop Capital lowered shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective for the company. in a research report on Tuesday, January 21st. Raymond James upped their target price on Apple to $250.00 and gave the company a “buy” rating in a research note on Monday, January 20th. Finally, JPMorgan Chase & Co. raised their price target on shares of Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $245.52.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $223.89 on Thursday. The company has a market capitalization of $3.36 trillion, a price-to-earnings ratio of 35.54, a PEG ratio of 2.44 and a beta of 1.18. The firm’s 50-day moving average is $230.55 and its 200 day moving average is $233.36. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 EPS for the quarter, beating 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%. Research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. 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.