Apple Inc. (NASDAQ:AAPL) Shares Sold by RBA Wealth Management LLC

RBA Wealth Management LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 41,996 shares of the iPhone maker’s stock after selling 1,423 shares during the period. Apple makes up approximately 4.0% of RBA Wealth Management LLC’s holdings, making the stock its 2nd largest holding. RBA Wealth Management LLC’s holdings in Apple were worth $10,517,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Drystone LLC purchased a new stake in Apple during the fourth quarter worth about $25,000. Bull Oak Capital LLC lifted its position in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares during the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in shares of Apple during the third quarter worth about $71,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Apple during the third quarter worth approximately $77,000. Finally, ARK Investment Management LLC purchased a new stake in shares of Apple in the third quarter valued at about $110,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Citigroup raised their target price on shares of Apple from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. TD Cowen reissued a “buy” rating on shares of Apple in a research report on Tuesday, January 28th. Monness Crespi & Hardt boosted their price target on Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Maxim Group boosted their price objective on shares of Apple to $215.00 and gave the company a “hold” rating in a research note on Friday, February 21st. Finally, Wedbush reiterated an “outperform” rating and set a $325.00 price objective on shares of Apple in a research note on Friday, March 14th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $245.52.

Apple Stock Up 0.3 %

Apple stock opened at $223.89 on Thursday. Apple Inc. has a 1-year low of $164.08 and a 1-year high of $260.10. The firm has a 50 day simple moving average of $230.55 and a 200 day simple moving average of $233.36. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $3.36 trillion, a price-to-earnings ratio of 35.54, a P/E/G ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.45%. Apple’s dividend payout ratio (DPR) is presently 15.87%.

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.