Frank Rimerman Advisors LLC Has $74.22 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Frank Rimerman Advisors LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 296,371 shares of the iPhone maker's stock after selling 29,162 shares during the quarter. Apple accounts for 5.4% of Frank Rimerman Advisors LLC's investment portfolio, making the stock its 3rd largest holding. Frank Rimerman Advisors LLC's holdings in Apple were worth $74,217,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. O Connor Financial Group LLC increased its position in Apple by 1.2% during the fourth quarter. O Connor Financial Group LLC now owns 3,578 shares of the iPhone maker's stock worth $896,000 after buying an additional 41 shares during the period. Menard Financial Group LLC boosted its position in Apple by 0.4% during the third quarter. Menard Financial Group LLC now owns 12,221 shares of the iPhone maker's stock worth $2,848,000 after purchasing an additional 48 shares in the last quarter. Hanseatic Management Services Inc. boosted its position in Apple by 1.3% during the fourth quarter. Hanseatic Management Services Inc. now owns 3,775 shares of the iPhone maker's stock worth $945,000 after purchasing an additional 48 shares in the last quarter. Family Capital Management Inc. lifted its position in shares of Apple by 0.3% in the fourth quarter. Family Capital Management Inc. now owns 16,910 shares of the iPhone maker's stock valued at $4,235,000 after acquiring an additional 48 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA lifted its position in shares of Apple by 0.3% in the fourth 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 acquiring an additional 48 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Insider Activity at Apple

In related news, CFO Kevan Parekh sold 4,570 shares of the firm'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 value of $941,420.00. Following the sale, the chief financial officer now directly owns 4,569 shares in the company, valued at $941,214. This trade represents a 50.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,507 shares of company stock worth $42,694,080 in the last three months. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several recent research reports. Bank of America reduced their price objective on Apple from $250.00 to $240.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Tigress Financial upped their price objective on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research report on Thursday, April 3rd. Scotiabank lowered Apple to a "market perform" rating in a research note on Friday, May 2nd. Maxim Group upped their target price on Apple to $215.00 and gave the company a "hold" rating in a research note on Friday, February 21st. Finally, Rosenblatt Securities lowered Apple from a "buy" rating to a "neutral" rating and set a $217.00 target price for the company. in a research note on Friday, May 2nd. Four 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $235.80.

Apple Stock Performance

Shares of Apple stock traded down $0.47 on Thursday, reaching $199.95. 51,367,725 shares of the company were exchanged, compared to its average volume of 56,221,859. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The company's 50-day moving average is $203.59 and its two-hundred day moving average is $225.20. The firm has a market cap of $2.99 trillion, a price-to-earnings ratio of 31.74, a P/E/G ratio of 2.44 and a beta of 1.27. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share for the quarter, topping 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 160.83% and a net margin of 24.30%. The business's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.53 EPS. As a group, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

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

Apple Increases Dividend

The business also recently declared 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. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. This is a boost from Apple's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio is presently 16.20%.

About Apple

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.