RFG Holdings Inc. Boosts Stock Position in Apple Inc. (NASDAQ:AAPL)

RFG Holdings Inc. raised its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 12.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,807 shares of the iPhone maker's stock after buying an additional 1,214 shares during the period. Apple comprises about 0.8% of RFG Holdings Inc.'s holdings, making the stock its 14th largest holding. RFG Holdings Inc.'s holdings in Apple were worth $2,403,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Drystone LLC purchased a new position in shares of Apple during the fourth quarter worth $25,000. Life Planning Partners Inc acquired a new stake in shares of Apple in the fourth quarter valued at $47,000. Conquis Financial LLC acquired a new stake in shares of Apple in the fourth quarter valued at $63,000. LSV Asset Management acquired a new stake in shares of Apple in the fourth quarter valued at $65,000. Finally, Pillar Financial Advisors LLC acquired a new stake in shares of Apple in the fourth quarter valued at $82,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of Apple stock traded up $1.16 on Friday, hitting $211.18. The stock had a trading volume of 48,647,642 shares, compared to its average volume of 53,129,745. 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 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18. The stock has a market cap of $3.15 trillion, a price-to-earnings ratio of 32.89, a P/E/G ratio of 2.35 and a beta of 1.20. The company's 50 day moving average price is $204.32 and its 200 day moving average price is $216.12.

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

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a $0.26 dividend. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. Apple's payout ratio is presently 16.20%.

Apple announced that its board has approved a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Tigress Financial increased their price objective on Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Thursday, April 3rd. Scotiabank cut Apple to a "market perform" rating in a research note on Friday, May 2nd. Jefferies Financial Group upgraded Apple from an "underperform" rating to a "hold" rating in a research note on Friday. Wedbush reiterated an "outperform" rating and issued a $270.00 price objective on shares of Apple in a research note on Wednesday, July 9th. Finally, DA Davidson increased their price objective on Apple from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Apple currently has an average rating of "Moderate Buy" and a consensus target price of $235.11.

Insider Activity

In other news, insider Chris Kondo sold 4,486 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider directly owned 15,533 shares of the company's stock, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares of the company's stock, valued at approximately $941,214. This represents a 50.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

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.