Apple Inc. (NASDAQ:AAPL) is the second largest position of RFP Financial Group LLC

Apple Inc.  (NASDAQ:AAPL) is the second largest position of RFP Financial Group LLC

RFP Financial Group LLC has increased its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) rose 1,005.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owns 101,156 shares of the iPhone maker’s stock after purchasing an additional 92,004 shares during the period. Apple makes up 8.0% of RFP Financial Group LLC’s portfolio, making the stock its second-largest holding. RFP Financial Group LLC’s holdings in Apple were valued at $19,603,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also made changes to their positions in AAPL. Atlantic Private Wealth LLC bought a new stake in Apple stock in the first quarter worth about $30,000. Summit Wealth Group LLC raised its holdings in Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 6,949,659 shares in the last quarter. HBC Financial Services PLLC raised its holdings in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares in the last quarter. Clear Perspectives Financial Planning LLC raised its holdings in Apple by 27.3% during the first quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock worth $172,000 after purchasing an additional 211 shares in the last quarter. Finally, Magellan Asset Management Ltd raised its holdings in Apple by 10.6% during the second quarter. Magellan Asset Management Ltd. now owns 1,323 shares of the iPhone maker’s stock worth $181,000 after purchasing an additional 127 shares in the last quarter. 58.51% of the shares are owned by hedge funds and other institutional investors.

Apple stock performance

NASDAQ AAPL shares opened at $189.69 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.94 and a debt-to-equity ratio of 1.53. Apple Inc. registered It has a 12-month low of $124.17 and a 12-month high of $198.23. The company has a 50 day simple moving average of $176.91 and a two-hundred day simple moving average of $180.85. The stock has a market cap of $2.95 trillion, a price-to-earnings ratio of 31.00, a PEG ratio of 2.60 and a beta of 1.30.

Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $1.46 EPS for the quarter, beating the consensus estimate of $1.39 by $0.07. Apple had a net margin of 25.31% and a return on equity of 160.78%. The company generated revenue of $89.50 billion during the quarter, compared to analysts’ expectations of $89.34 billion. During the same period a year earlier, the company posted $1.29 EPS. The company’s quarterly revenue decreased by 0.7% compared to the same quarter last year. As a group, analysts expect Apple Inc. About 6.56 earnings per share for the current year.

Apple announces dividend distribution

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. A dividend of $0.24 per share was paid to shareholders of record on Monday, November 13th. This represents an annual distribution of $0.96 and a yield of 0.51%. The ex-dividend date was Friday, November 10th. Apple’s payout ratio is 15.69%.

Insider buying and selling at Apple

In related news, insider Chris Condo sold 4,806 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $184.04, for a total value of $884,496.24. Following the completion of the transaction, the insider now directly owns 34,687 shares in the company, valued at approximately $6,383,795.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC’s website. In related news, Senior Vice President Deirdre O’brien sold 65,536 shares of the company’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total value of $11,279,400.96. Following the completion of the transaction, the Senior Vice President now directly owns 136,445 shares in the company, valued at approximately $23,483,548.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC’s website. Also, insider Chris Condo sold 4,806 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $184.04, for a total transaction of $884,496.24. Following the completion of the transaction, the insider now owns 34,687 shares of the company’s stock, valued at $6,383,795.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 444,391 shares of company stock worth $77,370,046. Company insiders own 0.06% of the company’s shares.

Analyst promotions and downgrades

A number of brokerage firms have recently evaluated AAPL. Piper Sandler raised their target price on shares of Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, July 31st. Canaccord Genuity Group raised their target price on shares of Apple from $185.00 to $205.00 and gave the company a “buy” rating in a report on Friday, August 4th. Piper Sandler Companies raised their target price on shares of Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, July 31st. Tigress Financial raised their price target on Apple shares from $225.00 to $240.00 and gave the company a “strong buy” rating in a report on Thursday. Finally, TD Cowen raised their target price on Apple shares from $195.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, August 1st. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a “Moderate Buy” consensus rating and a consensus price target of $198.25.

Read our latest report on Apple

About Apple

(Free report)

Apple Inc designs, manufactures and markets smartphones, personal computers, tablets, wearable devices and accessories worldwide. The company offers the iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home and accessories including AirPods, Apple TV, Apple Watch, Beats and HomePod products.

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Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com for the latest 13F filings and insider deals for Apple Inc. (NASDAQ:AAPL – Free Report).

Institutional Ownership Quarterly for Apple (NASDAQ:AAPL)

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