Citizens Financial Group Inc. RI Has $170.37 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Citizens Financial Group Inc. RI lifted its stake in Apple Inc. (NASDAQ:AAPL) by 58.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 808,895 shares of the iPhone maker’s stock after acquiring an additional 297,667 shares during the period. Apple makes up about 3.8% of Citizens Financial Group Inc. RI’s holdings, making the stock its 5th largest holding. Citizens Financial Group Inc. RI’s holdings in Apple were worth $170,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Access Investment Management LLC bought a new position in shares of Apple in the first quarter worth $140,000. Hoese & Co LLP raised its position in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares in the last quarter. Sage Financial Group Inc. purchased a new stake in shares of Apple in the second quarter worth $206,000. Benchmark Wealth Management LLC purchased a new stake in shares of Apple in the second quarter worth $208,000. Finally, Sequent Asset Management LLC purchased a new stake in shares of Apple in the second quarter worth $214,000. 60.41% of the stock is owned by institutional investors.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the sale, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 417,924 shares of company stock worth $94,142,399. Insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL stock opened at $222.91 on Monday. The firm has a 50 day moving average price of $227.18 and a 200-day moving average price of $212.64. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The firm has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 36.66, a PEG ratio of 2.41 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.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 145.09%. The company had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period in the previous year, the business earned $1.46 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts forecast that Apple Inc. will post 7.48 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be issued a $0.25 dividend. The ex-dividend date is Monday, November 11th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s payout ratio is currently 16.45%.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of recent analyst reports. Oppenheimer reiterated a “buy” rating and issued a $250.00 price objective on shares of Apple in a research report on Tuesday, October 1st. Monness Crespi & Hardt reiterated a “buy” rating and issued a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. Morgan Stanley restated an “overweight” rating and set a $273.00 price target on shares of Apple in a research report on Tuesday, September 10th. Barclays lowered their price target on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday. Finally, The Goldman Sachs Group raised their price target on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $236.23.

Apple Company 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.