RMR Wealth Builders Has $24.62 Million Holdings in Apple Inc. (NASDAQ:AAPL)

RMR Wealth Builders cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 116,875 shares of the iPhone maker’s stock after selling 3,692 shares during the period. Apple comprises about 2.8% of RMR Wealth Builders’ investment portfolio, making the stock its 9th biggest position. RMR Wealth Builders’ holdings in Apple were worth $24,616,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Yeomans Consulting Group Inc. bought a new stake in Apple during the fourth quarter worth approximately $1,713,000. Raleigh Capital Management Inc. grew its stake in Apple by 11.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock worth $2,986,000 after purchasing an additional 1,643 shares in the last quarter. GLOBALT Investments LLC GA purchased a new stake in Apple during the fourth quarter worth $38,406,000. Barden Capital Management Inc. lifted its holdings in shares of Apple by 132.8% during the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after purchasing an additional 18,615 shares during the last quarter. Finally, Sunpointe LLC purchased a new position in shares of Apple in the 4th quarter valued at approximately $4,782,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred 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 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated 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 transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,884 shares of company stock valued at $23,723,887. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AAPL. Bank of America reiterated a “buy” rating and set a $256.00 price target on shares of Apple in a research note on Thursday, September 5th. KeyCorp reissued a “hold” rating and set a $247.61 target price on shares of Apple in a report on Wednesday, August 28th. Piper Sandler restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research report on Tuesday, September 10th. Moffett Nathanson initiated coverage on Apple in a research report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price objective for the company. Finally, Oppenheimer restated an “outperform” rating and set a $250.00 price target on shares of Apple in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $239.17.

Apple Trading Down 0.8 %

Shares of AAPL opened at $226.47 on Tuesday. The company has a market capitalization of $3.47 trillion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The stock has a fifty day moving average of $222.25 and a two-hundred day moving average of $200.82. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the prior year, the firm earned $1.26 EPS. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, analysts forecast that Apple Inc. will post 6.7 EPS for the current year.

Apple Dividend Announcement

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

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.