Royal Fund Management LLC Has $10.16 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Royal Fund Management LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 10.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,556 shares of the iPhone maker’s stock after selling 5,023 shares during the period. Royal Fund Management LLC’s holdings in Apple were worth $10,162,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Verus Financial Partners Inc. boosted its holdings in shares of Apple by 0.3% in the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after acquiring an additional 48 shares during the period. Brown Financial Advisory raised its stake in Apple by 3.8% in the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after purchasing an additional 50 shares in the last quarter. Core Wealth Management Inc. grew its position in Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after acquiring an additional 50 shares in the last quarter. Lowery Thomas LLC boosted its stake in Apple by 0.7% in the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after buying an additional 50 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. boosted its position in Apple by 1.1% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock valued at $949,000 after buying an additional 51 shares during the period. 60.41% of the stock is currently owned by institutional investors.

Apple Price Performance

Shares of Apple stock opened at $235.06 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The firm has a market cap of $3.55 trillion, a PE ratio of 38.66, a P/E/G ratio of 2.25 and a beta of 1.24. The business has a 50-day moving average price of $228.43 and a 200 day moving average price of $219.01. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the prior year, the firm earned $1.46 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. Sell-side analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock valued at $92,007,745 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AAPL shares. UBS Group upped their price target on shares of Apple to $236.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Maxim Group upped their price target on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Apple in a research report on Friday, November 1st. Moffett Nathanson dropped their target price on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 price objective on shares of Apple in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $235.25.

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.