Apple Inc. (NASDAQ:AAPL) Shares Purchased by Rockport Wealth LLC

Rockport Wealth LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1,118.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 77,501 shares of the iPhone maker’s stock after acquiring an additional 71,141 shares during the quarter. Apple makes up about 6.9% of Rockport Wealth LLC’s investment portfolio, making the stock its 4th largest position. Rockport Wealth LLC’s holdings in Apple were worth $16,323,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC raised its position 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 buying an additional 31,278 shares during the period. Access Investment Management LLC acquired a new stake in Apple during the first quarter worth $140,000. Hoese & Co LLP raised its position in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares during the period. Sage Financial Group Inc. acquired a new position in shares of Apple in the 2nd quarter valued at $206,000. Finally, Benchmark Wealth Management LLC purchased a new position in shares of Apple during the 2nd quarter worth $208,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of Apple stock opened at $223.45 on Wednesday. The firm has a market capitalization of $3.40 trillion, a P/E ratio of 36.75, a P/E/G ratio of 2.39 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The firm’s 50 day moving average is $226.98 and its two-hundred day moving average is $213.44.

Apple (NASDAQ:AAPL) last posted 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 net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period last year, the firm posted $1.46 EPS. The company’s revenue was up 6.1% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 7.45 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Wall Street Analyst Weigh In

AAPL has been the topic of several research analyst reports. 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. Evercore ISI reissued a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. Maxim Group increased their price objective on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Morgan Stanley reissued an “overweight” rating and issued a $273.00 target price on shares of Apple in a research report on Tuesday, September 10th. Finally, Oppenheimer restated a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.51.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the sale, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 417,924 shares of company stock valued at $94,142,399 in the last three months. 0.06% of the stock is currently owned by company insiders.

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.