Apple Inc. (NASDAQ:AAPL) Stake Lessened by Royal Capital Wealth Management LLC

Royal Capital Wealth Management LLC trimmed its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 12.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,056 shares of the iPhone maker's stock after selling 3,370 shares during the quarter. Apple comprises approximately 4.2% of Royal Capital Wealth Management LLC's holdings, making the stock its 6th biggest position. Royal Capital Wealth Management LLC's holdings in Apple were worth $6,024,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AAPL. Norges Bank purchased a new position in Apple during the fourth quarter valued at approximately $46,868,648,000. Vanguard Group Inc. increased its stake in Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock worth $349,532,608,000 after buying an additional 49,168,843 shares during the period. Proficio Capital Partners LLC raised its holdings in Apple by 23,555.4% in the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after acquiring an additional 20,966,232 shares in the last quarter. Northern Trust Corp increased its position in shares of Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Apple by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock worth $26,220,566,000 after buying an additional 13,137,968 shares during the period. Institutional investors own 67.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Monness Crespi & Hardt increased their target price on shares of Apple to $245.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Loop Capital cut their target price on shares of Apple from $230.00 to $215.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Bank of America restated a "buy" rating and issued a $235.00 target price on shares of Apple in a research report on Tuesday, June 10th. JPMorgan Chase & Co. cut their target price on Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, Scotiabank cut Apple to a "market perform" rating in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and an average price target of $234.86.

Insider Activity

In related news, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer now owns 4,569 shares of the company's stock, valued at approximately $941,214. This represents a 50.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider now owns 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,507 shares of company stock valued at $42,694,080. Company insiders own 0.06% of the company's stock.

Apple Stock Down 1.4%

Shares of AAPL opened at $195.64 on Wednesday. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The business's fifty day moving average price is $202.21 and its two-hundred day moving average price is $222.47. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.78 and a current ratio of 0.82. The firm has a market capitalization of $2.92 trillion, a price-to-earnings ratio of 30.47, a PEG ratio of 2.22 and a beta of 1.22.

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

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 12th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's payout ratio is presently 16.20%.

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

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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