Apple Inc. (NASDAQ:AAPL) Shares Sold by RFG Advisory LLC

RFG Advisory LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 171,437 shares of the iPhone maker’s stock after selling 1,386 shares during the quarter. Apple makes up approximately 1.3% of RFG Advisory LLC’s portfolio, making the stock its 14th biggest position. RFG Advisory LLC’s holdings in Apple were worth $33,007,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Wyrmwood Management LLC lifted its stake in shares of Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after purchasing an additional 69 shares during the period. Gilfoyle & Co LLC grew its holdings in shares of Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after acquiring an additional 118 shares during the period. PayPay Securities Corp increased its stake in Apple by 70.2% in the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock valued at $87,000 after purchasing an additional 210 shares in the last quarter. Cordant Inc. raised its holdings in Apple by 27.7% during the third quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock worth $110,000 after purchasing an additional 140 shares during the last quarter. Finally, Life Planning Partners Inc purchased a new stake in Apple during the fourth quarter worth $132,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Redburn Partners cut shares of Apple to a “neutral” rating and set a $200.00 price objective on the stock. in a research note on Wednesday, January 10th. JPMorgan Chase & Co. increased their price target on shares of Apple from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday. Monness Crespi & Hardt lifted their price objective on Apple from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday. Wedbush reiterated an “outperform” rating and set a $250.00 target price on shares of Apple in a report on Friday. Finally, Bank of America raised their price target on Apple from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $203.72.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Luca Maestri sold 53,194 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the transaction, the chief financial officer now owns 107,788 shares in the company, valued at $18,768,046.56. The disclosure for this sale can be found here. Insiders sold a total of 366,271 shares of company stock valued at $63,653,887 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Up 6.0 %

Shares of NASDAQ AAPL opened at $183.38 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $199.62. The stock’s 50-day simple moving average is $172.15 and its 200-day simple moving average is $181.57. The firm has a market cap of $2.83 trillion, a price-to-earnings ratio of 28.56, a PEG ratio of 2.05 and a beta of 1.26.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. The company had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. Apple’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.52 EPS. As a group, equities analysts anticipate that Apple Inc. will post 6.53 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 13th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.55%. This is an increase from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, May 10th. Apple’s dividend payout ratio is 14.95%.

Apple announced that its Board of Directors has authorized a share repurchase program on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

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.