RVW Wealth LLC Grows Stock Position in Apple Inc. (NASDAQ:AAPL)

RVW Wealth LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 0.6% in the 2nd quarter, Holdings Channel reports. The fund owned 84,473 shares of the iPhone maker’s stock after purchasing an additional 535 shares during the period. Apple accounts for 1.8% of RVW Wealth LLC’s holdings, making the stock its 22nd biggest holding. RVW Wealth LLC’s holdings in Apple were worth $17,792,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AAPL. Yeomans Consulting Group Inc. purchased a new stake in Apple during the 4th quarter worth $1,713,000. Raleigh Capital Management Inc. grew its stake in shares of Apple by 11.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after acquiring an additional 1,643 shares in the last quarter. GLOBALT Investments LLC GA purchased a new stake in shares of Apple during the fourth quarter worth about $38,406,000. Barden Capital Management Inc. lifted its stake in shares of Apple by 132.8% in the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after acquiring an additional 18,615 shares in the last quarter. Finally, Sunpointe LLC purchased a new position in Apple in the fourth quarter valued at about $4,782,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Trading Up 0.1 %

Shares of AAPL stock opened at $227.18 on Tuesday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23. The firm has a market capitalization of $3.48 trillion, a PE ratio of 35.33, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. The stock has a fifty day moving average of $220.53 and a two-hundred day moving average of $194.75. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 145.35%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.26 earnings per share. As a group, research analysts expect that Apple Inc. will post 6.61 EPS for the current year.

Apple Announces Dividend

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

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

Analysts Set New Price Targets

Several research firms have issued reports on AAPL. Robert W. Baird lifted their price objective on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Oppenheimer lifted their price target on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, June 28th. Piper Sandler increased their price objective on shares of 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 boosted their target price 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. Finally, Cfra upped their target price on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $233.63.

Insider Buying and Selling

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the transaction, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the sale, the director now owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now directly 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 a total of 188,884 shares of company stock valued at $38,092,387 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

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.