Rockline Wealth Management LLC Sells 4,632 Shares of Apple Inc. (NASDAQ:AAPL)

Rockline Wealth Management LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,296 shares of the iPhone maker's stock after selling 4,632 shares during the period. Apple makes up 8.9% of Rockline Wealth Management LLC's holdings, making the stock its 2nd largest position. Rockline Wealth Management LLC's holdings in Apple were worth $31,830,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Advanced Portfolio Management LLC grew its position in Apple by 0.3% in the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock valued at $3,260,000 after buying an additional 47 shares during the last quarter. Family Capital Management Inc. grew its position in Apple by 0.3% in the 4th quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after buying an additional 48 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its position in Apple by 0.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 16,682 shares of the iPhone maker's stock valued at $4,178,000 after buying an additional 48 shares during the last quarter. Scarborough Advisors LLC grew its position in Apple by 0.3% in the 4th quarter. Scarborough Advisors LLC now owns 15,940 shares of the iPhone maker's stock valued at $3,992,000 after buying an additional 51 shares during the last quarter. Finally, Disciplined Investments LLC grew its position in Apple by 0.7% in the 4th quarter. Disciplined Investments LLC now owns 7,166 shares of the iPhone maker's stock valued at $1,794,000 after buying an additional 51 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Down 2.2%

Apple stock traded down $4.62 during mid-day trading on Friday, hitting $202.95. The company's stock had a trading volume of 46,370,982 shares, compared to its average volume of 56,587,043. The firm's 50 day moving average is $205.22 and its 200 day moving average is $213.98. The company has a market cap of $3.03 trillion, a PE ratio of 31.63, a price-to-earnings-growth ratio of 2.30 and a beta of 1.20. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. 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 announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 167.24% and a net margin of 24.30%. The firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the prior year, the business earned $1.40 EPS. The business's revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its Board of Directors has authorized a share 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 purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 11th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. Apple's dividend payout ratio (DPR) is presently 16.20%.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider directly owned 15,533 shares of the company's stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on AAPL. JPMorgan Chase & Co. raised their target price on Apple from $250.00 to $255.00 and gave the company an "overweight" rating in a report on Friday. UBS Group raised their target price on Apple from $210.00 to $220.00 and gave the company a "neutral" rating in a report on Friday. Rosenblatt Securities reissued a "neutral" rating and issued a $217.00 target price on shares of Apple in a report on Tuesday. Bank of America raised their target price on Apple from $235.00 to $240.00 and gave the company a "buy" rating in a report on Friday. Finally, Jefferies Financial Group raised Apple from an "underperform" rating to a "hold" rating in a report on Friday, July 18th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $237.25.

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.