Rooted Wealth Advisors Inc. Has $3.07 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Rooted Wealth Advisors Inc. raised its stake in Apple Inc. (NASDAQ:AAPL) by 14.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 13,702 shares of the iPhone maker’s stock after buying an additional 1,776 shares during the period. Apple makes up 1.3% of Rooted Wealth Advisors Inc.’s investment portfolio, making the stock its 18th biggest position. Rooted Wealth Advisors Inc.’s holdings in Apple were worth $3,072,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc bought a new stake in Apple in the first quarter worth about $35,000. Fidelis Capital Partners LLC raised its stake in shares of Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. purchased a new stake in shares of Apple in the fourth quarter worth about $39,000. University of Texas Texas AM Investment Managment Co. boosted its holdings in Apple by 657.1% in the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares during the period. Finally, Clarity Asset Management Inc. bought a new stake in Apple during the fourth quarter valued at $85,000. 60.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AAPL shares. Melius Research reaffirmed a “buy” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. Erste Group Bank raised shares of Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Raymond James upped their price objective on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Maxim Group reissued a “hold” rating and issued a $203.00 price target on shares of Apple in a research note on Tuesday, September 10th. Finally, StockNews.com upgraded shares of Apple from a “hold” rating to a “buy” rating in a report on Friday, September 20th. One research 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $238.76.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of the business’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 sale, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Apple news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s 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 sale, 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. In the last 90 days, insiders have sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $226.21 on Wednesday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The firm has a market capitalization of $3.47 trillion, a PE ratio of 35.18, a P/E/G ratio of 2.66 and a beta of 1.24. The business’s 50 day moving average price is $222.39 and its 200-day moving average price is $203.18.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the previous year, the business earned $1.26 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities research analysts expect that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio is presently 15.55%.

Apple 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.