Apple Inc. $AAPL Shares Acquired by RFG Holdings Inc.

Key Points

• RFG Holdings Inc. increased its stake in Apple Inc. (AAPL) by 18.9% during Q2, now owning 12,847 shares valued at approximately $2.63 million.
• Insider Deirdre O'Brien sold 34,821 shares of Apple, reducing her ownership by 20.30%, a transaction valued at about $7.77 million.
• Equity analysts have mostly rated Apple as a "Moderate Buy" with an average price target of $244.66, following their latest earnings report that exceeded expectations.

RFG Holdings Inc. increased its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 18.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,847 shares of the iPhone maker's stock after acquiring an additional 2,040 shares during the period. Apple comprises 0.8% of RFG Holdings Inc.'s holdings, making the stock its 17th largest position. RFG Holdings Inc.'s holdings in Apple were worth $2,636,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of AAPL. Advanced Portfolio Management LLC raised its holdings in Apple by 0.3% in the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after purchasing an additional 47 shares during the period. Salus Financial Advisors LLC increased its position in shares of Apple by 3.9% in the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock valued at $291,000 after buying an additional 49 shares in the last quarter. Sharpepoint LLC increased its position in shares of Apple by 3.5% in the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker's stock valued at $322,000 after buying an additional 51 shares in the last quarter. Redwood Financial Network Corp raised its stake in shares of Apple by 0.6% during the 4th quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker's stock worth $2,184,000 after buying an additional 53 shares during the period. Finally, Mission Hills Financial Advisory LLC lifted its position in shares of Apple by 1.3% during the 1st quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker's stock valued at $892,000 after buying an additional 53 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Citigroup reissued a "buy" rating on shares of Apple in a report on Wednesday, September 10th. Raymond James Financial reissued an "outperform" rating and set a $240.00 target price (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Loop Capital decreased their price target on shares of Apple from $230.00 to $226.00 and set a "hold" rating on the stock in a research note on Thursday, August 21st. Bank of America boosted their price objective on Apple from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Finally, HSBC set a $220.00 target price on Apple and gave the company a "hold" rating in a research report on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average price target of $244.66.

Apple Trading Up 1.8%

Shares of AAPL stock opened at $256.87 on Friday. 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 Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company's 50-day moving average price is $227.98 and its 200-day moving average price is $212.99. The stock has a market cap of $3.81 trillion, a price-to-earnings ratio of 38.98, a PEG ratio of 2.62 and a beta of 1.11.

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

Apple Dividend Announcement

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

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.

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