R.H. Investment Group LLC Buys New Shares in Apple Inc. (NASDAQ:AAPL)

R.H. Investment Group LLC bought a new stake in Apple Inc. (NASDAQ:AAPL) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 21,463 shares of the iPhone maker’s stock, valued at approximately $5,375,000. Apple comprises about 5.1% of R.H. Investment Group LLC’s investment portfolio, making the stock its 4th biggest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. High Net Worth Advisory Group LLC grew its holdings in shares of Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after purchasing an additional 1,066 shares during the period. Amara Financial LLC. purchased a new stake in Apple during the third quarter worth approximately $288,000. Granite Investment Partners LLC grew its stake in Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after buying an additional 7,606 shares during the period. Truist Financial Corp grew its stake in Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after buying an additional 126,210 shares during the period. Finally, Sterling Investment Counsel LLC grew its stake in Apple by 3.8% during the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after buying an additional 2,565 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Up 1.9 %

Shares of NASDAQ:AAPL opened at $241.76 on Friday. The stock has a market capitalization of $3.63 trillion, a price-to-earnings ratio of 38.37, a price-to-earnings-growth ratio of 2.44 and a beta of 1.20. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The company’s fifty day moving average is $239.60 and its two-hundred day moving average is $233.58. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92.

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

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. Apple’s dividend payout ratio (DPR) is 15.87%.

Insiders Place Their Bets

In related news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AAPL shares. UBS Group boosted their price objective on shares of Apple to $236.00 and gave the stock a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Morgan Stanley set a $275.00 price objective on shares of Apple in a research note on Tuesday, February 11th. KeyCorp reiterated an “underweight” rating and set a $200.00 price objective on shares of Apple in a research note on Friday, January 31st. Finally, Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $243.88.

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.