Apple Inc. $AAPL is Sage Rhino Capital LLC's 9th Largest Position

Sage Rhino Capital LLC decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 47,803 shares of the iPhone maker's stock after selling 1,176 shares during the period. Apple accounts for about 2.5% of Sage Rhino Capital LLC's investment portfolio, making the stock its 9th biggest position. Sage Rhino Capital LLC's holdings in Apple were worth $10,618,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Life Planning Partners Inc purchased a new stake in Apple during the fourth quarter worth $47,000. Elite Financial Inc. acquired a new position in shares of Apple in the 1st quarter valued at $58,000. Conquis Financial LLC acquired a new position in shares of Apple in the 4th quarter valued at $63,000. LSV Asset Management acquired a new position in shares of Apple in the 4th quarter valued at $65,000. Finally, Pillar Financial Advisors LLC acquired a new position in shares of Apple in the 4th quarter valued at $82,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Price Performance

Apple stock opened at $232.56 on Friday. The stock has a market cap of $3.45 trillion, a P/E ratio of 35.29, a price-to-earnings-growth ratio of 2.41 and a beta of 1.16. The company has a fifty day simple moving average of $215.17 and a 200-day simple moving average of $213.08. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company's revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.40 EPS. Equities analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple's payout ratio is 15.78%.

Apple declared that its board has approved a share repurchase plan on Thursday, May 1st that allows the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. DA Davidson reaffirmed a "buy" rating and set a $250.00 price target on shares of Apple in a research report on Friday, August 1st. TD Cowen decreased their price target on shares of Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. BMO Capital Markets reaffirmed a "buy" rating on shares of Apple in a research note on Wednesday, August 13th. Bank of America reissued a "buy" rating and issued a $250.00 target price on shares of Apple in a research note on Monday. Finally, Raymond James Financial restated an "outperform" rating and set a $240.00 price target (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Apple has an average rating of "Moderate Buy" and an average target price of $237.37.

Insider Buying and Selling

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company's stock.

Apple Company 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.

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