Blue Rock Wealth Management LLC Increases Stake in Apple Inc. $AAPL

Blue Rock Wealth Management LLC increased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 84.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,344 shares of the iPhone maker's stock after purchasing an additional 7,005 shares during the period. Apple makes up about 2.9% of Blue Rock Wealth Management LLC's investment portfolio, making the stock its 9th largest position. Blue Rock Wealth Management LLC's holdings in Apple were worth $3,408,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. ROSS JOHNSON & Associates LLC lifted its stake in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after acquiring an additional 180 shares during the period. Conquis Financial LLC bought a new position in Apple in the fourth quarter worth about $63,000. LSV Asset Management bought a new position in Apple in the fourth quarter worth about $65,000. Elite Financial Inc. bought a new position in Apple in the first quarter worth about $58,000. Finally, Pillar Financial Advisors LLC bought a new position in Apple in the fourth quarter worth about $82,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Up 1.8%

Shares of NASDAQ:AAPL opened at $234.07 on Friday. The business's 50 day moving average price is $221.50 and its 200-day moving average price is $212.20. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market capitalization of $3.47 trillion, a price-to-earnings ratio of 35.52, a price-to-earnings-growth ratio of 2.39 and a beta of 1.11.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% 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 company earned $1.40 EPS. The firm's revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts forecast 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. Investors of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple's dividend payout ratio (DPR) is presently 15.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AAPL shares. HSBC set a $220.00 target price on shares of Apple and gave the stock a "hold" rating in a report on Monday, September 8th. Moffett Nathanson upgraded shares of Apple from a "sell" rating to a "neutral" rating and set a $225.00 target price for the company in a report on Thursday, September 4th. Loop Capital reduced their target price on shares of Apple from $230.00 to $226.00 and set a "hold" rating for the company in a report on Thursday, August 21st. Evercore ISI upped their price objective on shares of Apple from $250.00 to $260.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, Barclays upped their price objective on shares of Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $240.80.

Insider Activity

In related news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.06% of the company's stock.

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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