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Richardson Capital Management LLC has bought shares of Apple Inc. (NASDAQ:AAPL)

Richardson Capital Management LLC has bought shares of Apple Inc. (NASDAQ:AAPL)


Richardson Capital Management LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 558.4% during the first quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The fund owned 1,679 shares of the iPhone maker after buying an additional 1,424 shares during the same period. Apple makes up about 0.2% of Richardson Capital Management LLC’s portfolio, making the stock its 23rd largest position. Richardson Capital Management LLC’s holdings in Apple were worth $288,000 at the end of the last quarter.

Several other institutional investors have also recently changed their holdings in the company. Norges Bank acquired a new position in Apple during the fourth quarter valued at about $33,912,466,000. International Assets Investment Management LLC increased its holdings in shares of Apple by 14,395.4% during the fourth quarter. International Assets Investment Management LLC now owns 70,700,395 shares of the iPhone maker’s stock valued at $136,119,470,000 after acquiring an additional 70,212,651 shares during the same period. Vanguard Group Inc. increased its holdings in shares of Apple by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after acquiring an additional 18,067,216 shares during the same period. Global Assets Advisory LLC increased its holdings in shares of Apple by 23,076.4% in the 1st quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock worth $1,584,512,000 after acquiring an additional 9,200,345 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of Apple by 130.1% in the 4th quarter. Cerity Partners LLC now owns 9,430,190 shares of the iPhone maker’s stock worth $1,815,594,000 after acquiring an additional 5,331,439 shares during the same period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider buying and selling

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of Apple stock on Thursday, May 30. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the transaction, the director now directly owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC’s website. In related news, Director Arthur D. Levinson sold 75,000 shares of the company’s stock on Thursday, May 30. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The transaction was disclosed in a filing with the SEC, accessible through this link. Also, insider Chris Kondo sold 4,999 shares of the company’s stock in a transaction dated Wednesday, May 15. The shares were sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the transaction, the insider now owns 29,278 shares of the company’s stock, valued at approximately $5,574,531.20. The disclosure regarding this sale can be found here. Insiders sold a total of 192,355 shares of the company’s stock in the last 90 days, valued at $34,771,329. Company insiders own 0.06% of the company’s stock.

Apple shares rise 0.4%

AAPL opened at $228.68 on Wednesday. Apple Inc. has a one year low of $164.07 and a one year high of $229.40. The company has a debt-to-equity ratio of 1.24, a cash ratio of 0.99 and a current ratio of 1.04. The stock has a market cap of $3.51 trillion, a P/E ratio of 35.56, a price-to-earnings-growth ratio of 2.75 and a beta of 1.24. The company’s 50-day moving average is $199.69 and its 200-day moving average is $186.66.

Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings results on Thursday, May 2. The iPhone maker reported earnings per share of $1.53 for the quarter, beating the consensus estimate of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The company posted revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. In the same quarter last year, the company reported earnings per share of $1.52. The company’s revenue declined 4.3% compared to the same quarter last year. Analysts expect Apple Inc. to report earnings per share of $6.59 for the current year.

Apple announced on Thursday, May 2, that its board of directors has approved a stock repurchase plan that allows the company to buy back $110.00 billion worth of outstanding shares. This repurchase authorization allows the iPhone maker to buy back up to 3.9% of its shares through the open market. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Apple increases dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16. Investors of record on Monday, May 13, were given a dividend of $0.25. This is an increase from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10. This represents an annualized dividend of $1.00 and a yield of 0.44%. Apple’s dividend payout ratio is 15.55%.

Wall Street analysts predict growth

AAPL has been the subject of a number of research reports. Morgan Stanley reiterated an “overweight” rating and set a $216.00 price target on shares of Apple in a research note on Tuesday, June 11th. Citigroup decreased their price target on Apple from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Maxim Group increased their price target on Apple from $178.00 to $195.00 and gave the company a “hold” rating in a research report on Tuesday, June 25th. Rosenblatt Securities upgraded shares of Apple from a “neutral” rating to a “buy” rating and increased their price target on the stock from $196.00 to $260.00 in a research note on Wednesday, June 26th. Finally, Evercore ISI reiterated a buy rating and issued a $250.00 price target on Apple shares in a research note on Thursday, July 4. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, 24 have given a buy rating, and one has given a strong buy rating. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.29.

Read our latest research report on AAPL

Apple Profile

(Free report)

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 multipurpose tablets; and wearables, home devices, and accessories, including AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

See also

Institutional ownership by quarter for Apple (NASDAQ:AAPL)



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