RFG Bristol Wealth Advisors LLC acquired a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 28,715 shares of the iPhone maker's stock, valued at approximately $7,191,000. Apple makes up about 2.4% of RFG Bristol Wealth Advisors LLC's holdings, making the stock its 12th largest holding.
A number of other large investors have also recently made changes to their positions in the business. OneAscent Wealth Management LLC increased its stake in Apple by 4.6% in the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock valued at $2,337,000 after buying an additional 409 shares during the last quarter. Allstate Corp increased its position in shares of Apple by 3,368.2% during the fourth quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock valued at $113,062,000 after acquiring an additional 438,471 shares during the last quarter. Vinva Investment Management Ltd increased its position in shares of Apple by 12.4% during the fourth quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker's stock valued at $192,700,000 after acquiring an additional 83,997 shares during the last quarter. Tradewinds Capital Management LLC lifted its holdings in Apple by 9.2% during the fourth quarter. Tradewinds Capital Management LLC now owns 21,198 shares of the iPhone maker's stock worth $5,308,000 after acquiring an additional 1,779 shares during the period. Finally, Berkshire Bank increased its holdings in Apple by 2.7% during the fourth quarter. Berkshire Bank now owns 89,580 shares of the iPhone maker's stock worth $22,433,000 after buying an additional 2,360 shares during the last quarter. 67.73% of the stock is owned by institutional investors.
Apple Stock Up 0.0%
Shares of AAPL traded up $0.06 on Thursday, hitting $198.84. 14,546,869 shares of the stock traded hands, compared to its average volume of 55,449,083. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a market capitalization of $2.97 trillion, a PE ratio of 31.56, a P/E/G ratio of 2.44 and a beta of 1.22. The business has a 50 day simple moving average of $200.92 and a 200 day simple moving average of $223.60. 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 (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. Apple's revenue was up 5.1% compared to the same quarter last year. During the same period last year, the firm posted $1.53 earnings per share. As a group, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 12th. Apple's payout ratio is presently 16.20%.
Apple declared that its Board of Directors has authorized a stock buyback program on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its shares are undervalued.
Analyst Ratings Changes
Several research firms recently commented on AAPL. DA Davidson upped their price objective on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Raymond James lowered their target price on Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research note on Tuesday. KeyCorp upgraded shares of Apple from an "underweight" rating to a "sector weight" rating in a research note on Monday, April 14th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $270.00 price objective on shares of Apple in a report on Tuesday. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.86.
View Our Latest Report on AAPL
Insider Activity at Apple
In related news, SVP Katherine L. Adams sold 38,822 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the completion of the sale, the senior vice president now owns 179,158 shares in the company, valued at approximately $40,072,269.86. This represents a 17.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 108,136 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the completion of the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This represents a 3.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock worth $42,694,080 over the last quarter. Company insiders own 0.06% of the company's stock.
Apple Profile
(
Free Report)
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.
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