RFG Advisory LLC Has $44.09 Million Position in Apple Inc. $AAPL

RFG Advisory LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL) by 10.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 214,907 shares of the iPhone maker’s stock after acquiring an additional 20,817 shares during the period. Apple makes up approximately 1.0% of RFG Advisory LLC’s portfolio, making the stock its 15th biggest position. RFG Advisory LLC’s holdings in Apple were worth $44,093,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Salus Financial Advisors LLC grew its position in shares of Apple by 3.9% during the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after buying an additional 49 shares during the period. Red Tortoise LLC boosted its stake in Apple by 0.9% during the second quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock worth $1,173,000 after acquiring an additional 49 shares in the last quarter. SigFig Wealth Management LLC grew its holdings in Apple by 2.8% in the second quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock worth $368,000 after purchasing an additional 50 shares during the period. Shariaportfolio Inc. increased its stake in Apple by 1.3% in the second quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock valued at $820,000 after purchasing an additional 50 shares in the last quarter. Finally, Sharpepoint LLC raised its holdings in shares of Apple by 3.5% during the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock valued at $322,000 after purchasing an additional 51 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple Stock Up 2.2%

AAPL stock opened at $275.25 on Wednesday. The firm has a market capitalization of $4.07 trillion, a PE ratio of 41.77, a P/E/G ratio of 2.62 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $277.32. The stock’s 50 day moving average is $253.91 and its 200-day moving average is $225.75.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $102.47 billion during the quarter, compared to analyst estimates of $101.65 billion. During the same period in the prior year, the firm posted $1.64 EPS. Apple’s quarterly revenue was up 8.7% compared to the same quarter last year. Sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Monday, November 10th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, November 10th. Apple’s dividend payout ratio (DPR) is presently 13.92%.

Insider Activity

In other Apple news, SVP Deirdre O’brien sold 43,013 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This trade represents a 23.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the transaction, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 224,300 shares of company stock valued at $57,586,933 in the last three months. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on Apple from $290.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Morgan Stanley upped their price target on Apple from $298.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Robert W. Baird set a $300.00 price objective on Apple in a research note on Friday, October 31st. Wells Fargo & Company set a $300.00 price objective on Apple and gave the company an “overweight” rating in a report on Friday, October 31st. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $240.00 target price (up from $230.00) on shares of Apple in a research report on Friday, August 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $278.22.

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.