Rockingstone Advisors LLC Has $5.16 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Rockingstone Advisors LLC lifted its stake in Apple Inc. (NASDAQ:AAPL) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,492 shares of the iPhone maker’s stock after purchasing an additional 423 shares during the quarter. Apple comprises approximately 2.6% of Rockingstone Advisors LLC’s holdings, making the stock its 5th largest position. Rockingstone Advisors LLC’s holdings in Apple were worth $5,158,000 as of its most recent SEC filing.

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

Apple Stock Down 0.1 %

AAPL opened at $222.50 on Friday. The company has a fifty day moving average of $223.14 and a two-hundred day moving average of $198.52. The stock has a market capitalization of $3.38 trillion, a price-to-earnings ratio of 34.60, a PEG ratio of 2.62 and a beta of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95.

Apple (NASDAQ:AAPL) last announced its earnings results 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 return on equity of 147.15% and a net margin of 26.44%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.26 EPS. On average, research analysts expect that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Dividend Announcement

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. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s payout ratio is currently 15.55%.

Wall Street Analyst Weigh In

Several research firms recently commented 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. Morgan Stanley reissued an “overweight” rating and set a $273.00 price objective on shares of Apple in a report on Tuesday. Melius Research restated a “buy” rating and set a $265.00 price objective on shares of Apple in a research report on Tuesday, August 27th. Tigress Financial lifted their target price on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, Citigroup reiterated a “buy” rating and set a $255.00 target price on shares of Apple in a research note on Tuesday, August 27th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $238.62.

Insider Activity

In related news, insider Chris Kondo sold 8,706 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at $3,469,275. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock worth $23,723,887 over the last quarter. 0.06% of the stock is currently owned by corporate insiders.

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.