Robbins Farley Has $5.36 Million Position in Apple Inc. (NASDAQ:AAPL)

Robbins Farley boosted its stake in Apple Inc. (NASDAQ:AAPL) by 1.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,458 shares of the iPhone maker’s stock after purchasing an additional 442 shares during the quarter. Apple comprises about 2.8% of Robbins Farley’s investment portfolio, making the stock its 7th largest holding. Robbins Farley’s holdings in Apple were worth $5,362,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Apple by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after acquiring an additional 18,067,216 shares during the period. Norges Bank acquired a new position in Apple in the fourth quarter valued at about $33,912,466,000. Wellington Management Group LLP grew its stake in Apple by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock valued at $11,677,190,000 after acquiring an additional 2,096,360 shares during the period. Fisher Asset Management LLC grew its stake in Apple by 2.0% in the fourth quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock valued at $10,531,834,000 after acquiring an additional 1,067,587 shares during the period. Finally, Capital International Investors grew its stake in Apple by 7.1% in the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after acquiring an additional 2,474,887 shares during the period. Institutional investors own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Moffett Nathanson assumed coverage on Apple in a research note on Monday, August 19th. They issued a “neutral” rating and a $211.00 target price for the company. Sanford C. Bernstein upped their price objective on Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Raymond James upped their price objective on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Tuesday. Finally, UBS Group upped their price objective on Apple from $190.00 to $236.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. One investment 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $238.62.

Apple Price Performance

NASDAQ:AAPL opened at $222.66 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The stock’s 50 day moving average price is $223.19 and its two-hundred day moving average price is $198.06. The firm has a market capitalization of $3.41 trillion, a price-to-earnings ratio of 34.63, a P/E/G ratio of 2.60 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23.

Apple (NASDAQ:AAPL) last released its quarterly earnings data 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. The firm had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.26 earnings per share. On average, analysts anticipate that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.45%. Apple’s dividend payout ratio is 15.55%.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the 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 transaction, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Chris Kondo sold 8,706 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares in the company, valued at $3,469,275. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,884 shares of company stock worth $23,723,887. Company insiders own 0.06% of the company’s stock.

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.