Apple Inc. $AAPL Shares Bought by Rooted Wealth Advisors Inc.

Key Points

• Rooted Wealth Advisors Inc. increased its stake in Apple Inc. by 12.4% in Q2, owning 15,160 shares valued at over $3.2 million.
• Several institutional investors significantly altered their positions in Apple, with Kingstone Capital Partners increasing its stake by a staggering 573,627.2%.
• Apple's recent quarterly earnings exceeded analysts' expectations, reporting $1.57 earnings per share on revenues of $94.04 billion, marking a 9.6% year-over-year increase.

Rooted Wealth Advisors Inc. lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 12.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,160 shares of the iPhone maker's stock after purchasing an additional 1,675 shares during the quarter. Apple comprises about 1.1% of Rooted Wealth Advisors Inc.'s holdings, making the stock its 23rd biggest holding. Rooted Wealth Advisors Inc.'s holdings in Apple were worth $3,201,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Kingstone Capital Partners Texas LLC lifted its stake in Apple by 573,627.2% in the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker's stock worth $39,065,374,000 after acquiring an additional 205,656,808 shares during the last quarter. Norges Bank acquired a new stake in shares of Apple in the 4th quarter valued at $46,868,648,000. Nuveen LLC purchased a new stake in shares of Apple during the 1st quarter worth $17,472,482,000. GAMMA Investing LLC grew its stake in shares of Apple by 25,934.1% during the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock worth $133,425,490,000 after purchasing an additional 59,835,676 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after buying an additional 20,079,472 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Buying and Selling

In related news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.06% of the company's stock.

Apple Trading Up 0.3%

NASDAQ:AAPL opened at $255.45 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The stock has a fifty day simple moving average of $231.34 and a 200-day simple moving average of $214.08. The company has a market capitalization of $3.79 trillion, a PE ratio of 38.76, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10.

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

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders 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 dividend yield of 0.4%. Apple's payout ratio is currently 15.78%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AAPL shares. Jefferies Financial Group upped their price objective on Apple from $190.67 to $205.82 and gave the stock a "hold" rating in a research report on Monday, September 8th. BMO Capital Markets reaffirmed a "buy" rating on shares of Apple in a report on Wednesday, August 13th. Bank of America raised their price objective on shares of Apple from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. JPMorgan Chase & Co. boosted their price objective on shares of Apple from $255.00 to $280.00 and gave the stock an "overweight" rating in a research report on Friday, September 19th. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $250.00 target price on shares of Apple in a research report on Thursday, September 11th. Two equities research 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 given a Sell rating to the company. According to MarketBeat, Apple has an average rating of "Moderate Buy" and an average target price of $245.51.

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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