RPG Investment Advisory LLC Has $28.05 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

RPG Investment Advisory LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 13.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 133,173 shares of the iPhone maker’s stock after acquiring an additional 15,290 shares during the quarter. Apple makes up about 4.1% of RPG Investment Advisory LLC’s holdings, making the stock its 3rd largest position. RPG Investment Advisory LLC’s holdings in Apple were worth $28,049,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AAPL. Access Investment Management LLC purchased a new stake in shares of Apple during the 1st quarter worth approximately $140,000. Hoese & Co LLP increased its position in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares during the last quarter. Sage Financial Group Inc. purchased a new stake in Apple in the second quarter worth $206,000. Benchmark Wealth Management LLC bought a new stake in shares of Apple in the second quarter valued at $208,000. Finally, Sequent Asset Management LLC purchased a new position in shares of Apple during the 2nd quarter valued at $214,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Transactions at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of the firm’s 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 directly owns 191,543 shares in the company, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were 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 of the company’s stock, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 517,924 shares of company stock worth $114,786,399. Company insiders own 0.06% of the company’s stock.

Apple Stock Up 0.4 %

Shares of AAPL opened at $231.41 on Monday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. 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 stock has a 50 day simple moving average of $226.86 and a two-hundred day simple moving average of $210.64. The firm has a market cap of $3.55 trillion, a P/E ratio of 35.99, a P/E/G ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 EPS. On average, analysts forecast that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Robert W. Baird boosted their price objective on Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price target on shares of Apple in a research report on Monday, September 9th. Piper Sandler Companies restated a “neutral” rating and set a $225.00 price target (up from $190.00) on shares of Apple in a research note on Tuesday, July 9th. Evercore ISI reiterated a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 target price on shares of Apple in a research report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $235.91.

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.