Rise Advisors LLC Increases Stock Position in Apple Inc. $AAPL

Key Points

• Rise Advisors LLC increased its holdings in Apple Inc. by 9.3% during Q2, owning 17,530 shares valued at approximately $3,597,000.
• Apple's recent quarterly earnings reported $1.57 EPS, exceeding analysts' estimates, with a 9.6% year-over-year revenue growth to $94.04 billion.
• The company announced a quarterly dividend of $0.26 per share, reflecting a 0.4% dividend yield with a payout ratio of 15.78%.

Rise Advisors LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 9.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,530 shares of the iPhone maker's stock after acquiring an additional 1,492 shares during the period. Apple accounts for about 1.4% of Rise Advisors LLC's holdings, making the stock its 13th biggest position. Rise Advisors LLC's holdings in Apple were worth $3,597,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Apple by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker's stock valued at $311,157,662,000 after acquiring an additional 5,005,297 shares during the period. Geode Capital Management LLC lifted its holdings in Apple by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock valued at $84,999,145,000 after acquiring an additional 6,307,413 shares during the period. Norges Bank acquired a new stake in Apple in the fourth quarter valued at $46,868,648,000. Northern Trust Corp lifted its holdings in Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after acquiring an additional 20,079,472 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Apple by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock valued at $26,220,566,000 after buying an additional 13,137,968 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of AAPL opened at $245.50 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The stock has a fifty day moving average price of $224.35 and a 200 day moving average price of $212.26. The company has a market cap of $3.64 trillion, a P/E ratio of 37.25, a PEG ratio of 2.55 and a beta of 1.11.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same quarter in the previous year, the firm posted $1.40 EPS. The firm's quarterly revenue was up 9.6% on a year-over-year basis. On average, research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

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

Insiders Place Their Bets

In related news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction on 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 transaction, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. The trade was 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. Insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AAPL shares. Citigroup restated a "buy" rating on shares of Apple in a research report on Wednesday, September 10th. Needham & Company LLC restated a "hold" rating on shares of Apple in a research report on Friday, July 25th. UBS Group reiterated a "neutral" rating on shares of Apple in a research report on Monday, September 8th. Bank of America lifted their price objective on Apple from $260.00 to $270.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Finally, Rosenblatt Securities lifted their price objective on Apple from $223.00 to $241.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average price target of $242.74.

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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.