Apple Inc. (NASDAQ:AAPL) Shares Sold by Rappaport Reiches Capital Management LLC

Rappaport Reiches Capital Management LLC decreased its stake in Apple Inc. (NASDAQ:AAPL) by 0.3% during the 4th quarter, HoldingsChannel reports. The firm owned 105,045 shares of the iPhone maker’s stock after selling 313 shares during the period. Apple comprises 6.8% of Rappaport Reiches Capital Management LLC’s holdings, making the stock its 5th largest position. Rappaport Reiches Capital Management LLC’s holdings in Apple were worth $26,305,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. High Net Worth Advisory Group LLC boosted its holdings in shares of Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after purchasing an additional 1,066 shares during the period. Amara Financial LLC. acquired a new stake in shares of Apple in the third quarter worth $288,000. Truist Financial Corp grew its holdings in Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after buying an additional 126,210 shares during the last quarter. Sterling Investment Counsel LLC increased its position in Apple by 3.8% during the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after acquiring an additional 2,565 shares during the period. Finally, Silicon Valley Capital Partners raised its position in shares of Apple by 12.8% during the third quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock valued at $59,122,000 after buying an additional 28,799 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Price Performance

NASDAQ AAPL opened at $213.49 on Friday. Apple Inc. has a 52 week low of $164.08 and a 52 week high of $260.10. The company has a 50-day moving average price of $234.52 and a 200-day moving average price of $233.77. The firm has a market capitalization of $3.21 trillion, a P/E ratio of 33.89, a PEG ratio of 2.44 and a beta of 1.18. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 0.47%. Apple’s payout ratio is 15.87%.

Insider Buying and Selling

In other news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AAPL has been the topic of several analyst reports. UBS Group boosted their price target on shares of Apple to $236.00 and gave the company a “hold” rating in a report on Tuesday, February 25th. Loop Capital cut Apple from a “buy” rating to a “hold” rating and set a $230.00 target price on the stock. in a report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price objective on shares of Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Rosenblatt Securities reissued a “buy” rating and issued a $262.00 price target on shares of Apple in a research note on Monday, January 27th. Finally, Citigroup upped their target price on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $243.22.

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.