Resources Management Corp CT ADV bought a new stake in Apple Inc. (NASDAQ:AAPL) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 82,361 shares of the iPhone maker’s stock, valued at approximately $18,446,000. Apple comprises 3.4% of Resources Management Corp CT ADV’s investment portfolio, making the stock its 2nd largest position.
A number of other institutional investors have also bought and sold shares of AAPL. Avondale Wealth Management lifted its stake in shares of Apple by 25.4% during the 2nd quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock worth $63,000 after buying an additional 64 shares during the last quarter. Horan Securities Inc. boosted its holdings in shares of Apple by 64.2% during the 2nd quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock worth $112,000 after buying an additional 221 shares during the period. Kahn Brothers Group Inc. DE bought a new stake in shares of Apple during the 3rd quarter worth about $112,000. Belvedere Advisors LLC acquired a new position in Apple in the 2nd quarter valued at about $119,000. Finally, Fulcrum Equity Management acquired a new position in Apple in the 3rd quarter valued at about $135,000. Institutional investors and hedge funds own 59.19% of the company’s stock.
AAPL traded up $2.29 on Wednesday, hitting $261.74. 16,236,750 shares of the stock were exchanged, compared to its average volume of 20,557,046. The firm has a market capitalization of $1,162.98 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 1.90 and a beta of 1.24. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.54 and a quick ratio of 1.50. Apple Inc. has a 12 month low of $142.00 and a 12 month high of $268.25. The business has a 50-day moving average of $254.72 and a two-hundred day moving average of $216.92.
Apple (NASDAQ:AAPL) last issued its earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 EPS for the quarter, beating the consensus estimate of $2.84 by $0.19. Apple had a net margin of 21.24% and a return on equity of 53.82%. The company had revenue of $64.04 billion during the quarter, compared to analysts’ expectations of $62.86 billion. During the same period in the previous year, the company earned $2.91 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post 13.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $3.08 annualized dividend and a dividend yield of 1.18%. Apple’s dividend payout ratio is 25.90%.
Several equities research analysts have issued reports on the stock. ValuEngine downgraded shares of Apple from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. DA Davidson boosted their price objective on Apple from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Goldman Sachs Group set a $192.00 target price on Apple and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Piper Jaffray Companies increased their target price on Apple from $270.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Deutsche Bank lifted their price target on Apple from $210.00 to $230.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. They noted that the move was a valuation call. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $244.70.
In related news, Director Arthur D. Levinson sold 37,394 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $257.79, for a total value of $9,639,799.26. Following the sale, the director now directly owns 1,170,677 shares of the company’s stock, valued at $301,788,823.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Luca Maestri sold 61,659 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $228.38, for a total value of $14,081,682.42. Following the completion of the sale, the chief financial officer now directly owns 85,507 shares in the company, valued at $19,528,088.66. The disclosure for this sale can be found here. Insiders have sold a total of 182,998 shares of company stock worth $42,351,593 in the last quarter. 0.05% of the stock is currently owned by company insiders.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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