RPg Family Wealth Advisory LLC Raises Holdings in Apple Inc. (NASDAQ:AAPL)

RPg Family Wealth Advisory LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,876 shares of the iPhone maker's stock after acquiring an additional 1,952 shares during the quarter. Apple makes up about 4.3% of RPg Family Wealth Advisory LLC's holdings, making the stock its 3rd largest position. RPg Family Wealth Advisory LLC's holdings in Apple were worth $12,240,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of AAPL. State Street Corp raised its stake in shares of Apple by 10.6% in the third quarter. State Street Corp now owns 584,010,284 shares of the iPhone maker's stock valued at $136,074,372,000 after buying an additional 55,935,105 shares during the period. Proficio Capital Partners LLC grew its position in shares of Apple by 23,555.4% in the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after purchasing an additional 20,966,232 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Apple by 6.5% in the third quarter. Geode Capital Management LLC now owns 333,857,500 shares of the iPhone maker's stock valued at $77,542,863,000 after purchasing an additional 20,483,787 shares in the last quarter. FMR LLC grew its position in Apple by 5.3% during the third quarter. FMR LLC now owns 363,859,362 shares of the iPhone maker's stock worth $84,779,231,000 after buying an additional 18,224,005 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its position in Apple by 25,285.2% during the fourth quarter. Strategic Financial Concepts LLC now owns 9,628,864 shares of the iPhone maker's stock worth $2,411,260,000 after buying an additional 9,590,933 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on AAPL shares. Citigroup reaffirmed a "cautious" rating on shares of Apple in a research note on Monday, May 5th. Raymond James dropped their target price on Apple from $250.00 to $230.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Bank of America lowered their price target on Apple from $250.00 to $240.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. JPMorgan Chase & Co. decreased their target price on Apple from $270.00 to $245.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. 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 report 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 given a strong buy rating to the company's stock. According to MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and an average target price of $235.80.

Apple Stock Performance

Shares of AAPL opened at $195.27 on Friday. The business's fifty day simple moving average is $205.04 and its two-hundred day simple moving average is $225.92. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a market cap of $2.92 trillion, a price-to-earnings ratio of 31.00, a P/E/G ratio of 2.44 and a beta of 1.27.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.03. The firm had revenue of $95.36 billion for the quarter, compared to the consensus estimate of $94.04 billion. Apple had a return on equity of 160.83% and a net margin of 24.30%. The company's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the business posted $1.53 EPS. Research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were paid a $0.26 dividend. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, May 12th. Apple's dividend payout ratio (DPR) is 16.20%.

Apple declared that its board has authorized a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board believes its shares are undervalued.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 108,136 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $223.65, for a total value of $24,184,616.40. Following the transaction, the chief executive officer now directly owns 3,280,295 shares in the company, valued at $733,637,976.75. This trade represents a 3.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Chris Kondo sold 4,486 shares of the firm's stock in a transaction on 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 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 ninety days. 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.

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