RMR Wealth Builders Acquires 6,925 Shares of Apple Inc. $AAPL

Key Points

• RMR Wealth Builders increased its stake in Apple Inc. by 5.8% in Q2, now holding 127,314 shares valued at $26.12 million.
• Multiple hedge funds, including Norges Bank and Vanguard Group, made significant changes to their positions in Apple, with 67.73% of the stock now owned by institutional investors.
• Apple's recent earnings report showed an EPS of $1.57, exceeding expectations, and the company declared a quarterly dividend of $0.26, representing an annual yield of 0.4%.

RMR Wealth Builders raised its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 5.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 127,314 shares of the iPhone maker's stock after buying an additional 6,925 shares during the period. Apple comprises approximately 2.4% of RMR Wealth Builders' investment portfolio, making the stock its 11th biggest position. RMR Wealth Builders' holdings in Apple were worth $26,121,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AAPL. 21 West Wealth Management LLC acquired a new position in shares of Apple in the 2nd quarter valued at $1,215,000. Goldstone Financial Group LLC boosted its holdings in shares of Apple by 25.5% in the second quarter. Goldstone Financial Group LLC now owns 37,354 shares of the iPhone maker's stock worth $7,977,000 after buying an additional 7,591 shares during the period. Apella Capital LLC boosted its holdings in shares of Apple by 62.0% in the second quarter. Apella Capital LLC now owns 184,366 shares of the iPhone maker's stock worth $38,708,000 after buying an additional 70,529 shares during the period. Boltwood Capital Management boosted its holdings in shares of Apple by 6.2% in the second quarter. Boltwood Capital Management now owns 36,204 shares of the iPhone maker's stock worth $7,428,000 after buying an additional 2,098 shares during the period. Finally, Heartwood Wealth Advisors LLC boosted its stake in Apple by 1.7% in the 2nd quarter. Heartwood Wealth Advisors LLC now owns 20,724 shares of the iPhone maker's stock worth $4,252,000 after purchasing an additional 347 shares during the period. 67.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the transaction, the senior vice president owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Performance

Shares of AAPL stock traded up $10.25 during trading on Monday, reaching $255.75. The company had a trading volume of 78,479,784 shares, compared to its average volume of 57,414,145. The firm's 50 day simple moving average is $224.35 and its two-hundred day simple moving average is $212.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. 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 $3.80 trillion, a PE ratio of 38.79, a PEG ratio of 2.55 and a beta of 1.11.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. The firm 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%. The business's quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.40 EPS. Sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Phillip Securities lowered shares of Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 price objective for the company. in a research note on Thursday, September 11th. Needham & Company LLC restated a "hold" rating on shares of Apple in a research report on Friday, July 25th. Evercore ISI raised their price objective on Apple from $250.00 to $260.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 10th. Raymond James Financial restated an "outperform" rating and set a $240.00 price target (up from $230.00) on shares of Apple in a report on Friday, August 1st. Finally, Sanford C. Bernstein initiated coverage on shares of Apple in a research note on Monday, September 15th. They set an "outperform" rating and a $290.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $244.03.

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.