Apple Inc. $AAPL Position Lifted by RB Capital Management LLC

Key Points

• RB Capital Management LLC increased its stake in Apple Inc. by 48.1%, acquiring an additional 90,662 shares in the second quarter, bringing their total to 278,958 shares, which represents 13.0% of their holdings.
• Several major institutions have also increased their positions in Apple, with Norges Bank and GAMMA Investing LLC making substantial new stakes or significant increases, reflecting strong institutional interest in the company.
• Apple recently reported a strong quarterly earnings performance, with $1.57 EPS and revenue of $94.04 billion, surpassing analyst estimates and representing a 9.6% year-over-year increase.

RB Capital Management LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 48.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 278,958 shares of the iPhone maker's stock after acquiring an additional 90,662 shares during the quarter. Apple makes up approximately 13.0% of RB Capital Management LLC's holdings, making the stock its biggest holding. RB Capital Management LLC's holdings in Apple were worth $57,234,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AAPL. Burkett Financial Services LLC raised its holdings in shares of Apple by 0.6% in the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock valued at $3,199,000 after purchasing an additional 93 shares in the last quarter. Avid Wealth Partners LLC increased its holdings in shares of Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock valued at $935,000 after acquiring an additional 930 shares during the period. Bell & Brown Wealth Advisors LLC raised its position in shares of Apple by 0.4% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker's stock worth $13,772,000 after acquiring an additional 240 shares in the last quarter. OneAscent Wealth Management LLC lifted its stake in shares of 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 purchasing an additional 409 shares during the last quarter. Finally, Andina Capital Management LLC boosted its position in Apple by 209.2% during the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker's stock valued at $1,507,000 after purchasing an additional 4,591 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AAPL shares. Wedbush restated an "outperform" rating and issued a $270.00 target price on shares of Apple in a research note on Tuesday, September 9th. Phillip Securities lowered Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 target price on the stock. in a research report on Thursday, September 11th. Monness Crespi & Hardt raised their price target on Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Melius Research set a $290.00 price objective on shares of Apple and gave the company a "buy" rating in a research report on Wednesday, September 10th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $266.00 price target on shares of Apple in a research note on Tuesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $242.74.

Apple Price Performance

AAPL stock traded up $7.62 during midday trading on Friday, reaching $245.50. The stock had a trading volume of 163,435,991 shares, compared to its average volume of 47,568,860. The company has a market cap of $3.64 trillion, a price-to-earnings ratio of 37.25, a price-to-earnings-growth ratio of 2.55 and a beta of 1.11. The company's fifty day simple moving average is $224.35 and its 200 day simple moving average is $212.26. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. During the same quarter in the prior year, the company posted $1.40 EPS. The business's revenue for the quarter was up 9.6% on a year-over-year basis. As a group, sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple's dividend payout ratio (DPR) is 15.78%.

Insider Activity at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.