Apple Inc. (NASDAQ:AAPL) Shares Sold by Davis R M Inc.

Davis R M Inc. reduced its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 1.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,142,985 shares of the iPhone maker’s stock after selling 17,339 shares during the quarter. Apple comprises 4.8% of Davis R M Inc.’s portfolio, making the stock its biggest position. Davis R M Inc.’s holdings in Apple were worth $199,577,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. RiverFront Investment Group LLC grew its position in shares of Apple by 54.9% during the 1st quarter. RiverFront Investment Group LLC now owns 132,118 shares of the iPhone maker’s stock worth $23,069,000 after buying an additional 46,803 shares during the period. Prestige Wealth Management Group LLC lifted its holdings in shares of Apple by 1.0% during the 1st quarter. Prestige Wealth Management Group LLC now owns 109,699 shares of the iPhone maker’s stock valued at $19,155,000 after purchasing an additional 1,093 shares in the last quarter. First Foundation Advisors lifted its holdings in shares of Apple by 7.0% during the 1st quarter. First Foundation Advisors now owns 446,275 shares of the iPhone maker’s stock valued at $77,924,000 after purchasing an additional 29,192 shares in the last quarter. Stockman Wealth Management Inc. lifted its holdings in shares of Apple by 18.5% during the 1st quarter. Stockman Wealth Management Inc. now owns 107,975 shares of the iPhone maker’s stock valued at $18,854,000 after purchasing an additional 16,877 shares in the last quarter. Finally, RGT Wealth Advisors LLC lifted its holdings in shares of Apple by 11.8% during the 1st quarter. RGT Wealth Advisors LLC now owns 17,629 shares of the iPhone maker’s stock valued at $3,078,000 after purchasing an additional 1,855 shares in the last quarter. 57.62% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Down 3.8 %

AAPL stock opened at $163.62 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $2.63 trillion, a PE ratio of 27.00, a PEG ratio of 2.16 and a beta of 1.23. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The business’s 50 day simple moving average is $154.62 and its 200 day simple moving average is $157.03.

Apple (NASDAQ:AAPLGet Rating) last posted its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The business had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.30 EPS. As a group, research analysts anticipate that Apple Inc. will post 6.1 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio is 15.18%.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the sale, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AAPL. Rosenblatt Securities cut their price objective on Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, July 29th. KeyCorp lifted their price objective on Apple from $177.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, August 19th. set a $175.00 price objective on Apple in a report on Friday, July 29th. Fundamental Research set a $177.07 target price on Apple and gave the company a “buy” rating in a research note on Thursday, August 4th. Finally, Loop Capital cut their target price on Apple from $210.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, May 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $181.18.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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