Apple Inc. (NASDAQ:AAPL) Shares Sold by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI lowered its position in Apple Inc. (NASDAQ:AAPL) by 1.3% in the first quarter, Holdings Channel.com reports. The fund owned 511,228 shares of the iPhone maker’s stock after selling 6,945 shares during the period. Apple makes up 2.8% of Citizens Financial Group Inc. RI’s investment portfolio, making the stock its 8th largest holding. Citizens Financial Group Inc. RI’s holdings in Apple were worth $87,665,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gilfoyle & Co LLC boosted its stake in Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares in the last quarter. Coastline Trust Co lifted its holdings in Apple by 1.9% during the 4th quarter. Coastline Trust Co now owns 182,551 shares of the iPhone maker’s stock valued at $35,147,000 after purchasing an additional 3,361 shares during the last quarter. RPg Family Wealth Advisory LLC boosted its position in Apple by 5.8% in the fourth quarter. RPg Family Wealth Advisory LLC now owns 46,808 shares of the iPhone maker’s stock valued at $9,012,000 after buying an additional 2,552 shares in the last quarter. Founders Capital Management LLC grew its stake in Apple by 3.4% during the fourth quarter. Founders Capital Management LLC now owns 84,857 shares of the iPhone maker’s stock worth $16,338,000 after buying an additional 2,814 shares during the last quarter. Finally, TTP Investments Inc. increased its holdings in shares of Apple by 21.1% during the fourth quarter. TTP Investments Inc. now owns 115,650 shares of the iPhone maker’s stock worth $22,266,000 after buying an additional 20,147 shares in the last quarter. 60.41% of the stock is owned by institutional investors.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the sale, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Insiders have sold 188,884 shares of company stock valued at $38,092,387 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

Apple Trading Down 0.0 %

NASDAQ:AAPL opened at $226.40 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. The business’s 50-day simple moving average is $219.82 and its 200-day simple moving average is $193.92. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The stock has a market capitalization of $3.47 trillion, a PE ratio of 35.21, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 145.35%. The firm had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same quarter in the previous year, the firm posted $1.26 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. Sell-side analysts expect that Apple Inc. will post 6.61 earnings per share for the current fiscal year.

Apple announced that its Board of Directors has approved a stock repurchase program on Thursday, May 2nd that allows the company to buyback $110.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Evercore ISI restated a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Thursday, August 1st. Piper Sandler raised their target price on Apple from $190.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. Sanford C. Bernstein upped their price target on shares of Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Maxim Group raised their price objective on shares of Apple from $195.00 to $203.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, Bank of America reiterated a “buy” rating and set a $230.00 target price on shares of Apple in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $233.63.

About Apple

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.