Apple Inc. (NASDAQ:AAPL) Stake Boosted by RDA Financial Network

RDA Financial Network boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,643 shares of the iPhone maker's stock after acquiring an additional 1,194 shares during the quarter. Apple accounts for about 3.1% of RDA Financial Network's investment portfolio, making the stock its 2nd largest holding. RDA Financial Network's holdings in Apple were worth $10,361,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Burkett Financial Services LLC boosted its position in Apple by 0.6% during the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock worth $3,199,000 after acquiring an additional 93 shares during the period. OneAscent Wealth Management LLC boosted its position in Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after acquiring an additional 409 shares during the period. TruWealth Advisors LLC lifted its holdings in shares of Apple by 2.8% during the 1st quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker's stock valued at $42,045,000 after buying an additional 5,120 shares during the last quarter. Allstate Corp lifted its holdings in shares of Apple by 3,368.2% during the 4th quarter. Allstate Corp now owns 451,489 shares of the iPhone maker's stock valued at $113,062,000 after buying an additional 438,471 shares during the last quarter. Finally, Vinva Investment Management Ltd lifted its holdings in shares of Apple by 12.4% during the 4th quarter. Vinva Investment Management Ltd now owns 764,075 shares of the iPhone maker's stock valued at $192,700,000 after buying an additional 83,997 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $209.95 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18. The business's 50 day moving average is $203.34 and its two-hundred day moving average is $218.13. The company has a market cap of $3.14 trillion, a P/E ratio of 32.70, a P/E/G ratio of 2.38 and a beta of 1.20. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.03. The business had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. Apple's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.53 earnings per share. On average, equities analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were given a dividend of $0.26 per share. The ex-dividend date was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.50%. Apple's payout ratio is currently 16.20%.

Apple announced that its Board of Directors has approved a stock buyback plan on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. TD Cowen reduced their price target on Apple from $290.00 to $275.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Rosenblatt Securities lowered Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target for the company. in a report on Friday, May 2nd. Monness Crespi & Hardt lifted their price target on Apple to $245.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Loop Capital reduced their price target on Apple from $230.00 to $215.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $234.95.

Insider Buying and Selling

In other news, CFO Kevan Parekh sold 4,570 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares in the company, valued at approximately $941,214. The trade was a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the sale, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. This represents a 22.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company's stock.

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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