RMR Capital Management LLC Cuts Stock Position in Apple Inc. $AAPL

RMR Capital Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 22.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,096 shares of the iPhone maker’s stock after selling 1,736 shares during the period. RMR Capital Management LLC’s holdings in Apple were worth $1,251,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Ryan Investment Management Inc. bought a new position in shares of Apple during the 2nd quarter valued at $31,000. ROSS JOHNSON & Associates LLC boosted its position in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 180 shares during the period. LSV Asset Management bought a new position in shares of Apple during the fourth quarter valued at about $65,000. Elite Financial Inc. bought a new position in shares of Apple during the first quarter valued at about $58,000. Finally, HFM Investment Advisors LLC purchased a new position in shares of Apple in the first quarter worth about $99,000. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $273.33 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The firm’s fifty day simple moving average is $254.61 and its 200 day simple moving average is $226.08. The stock has a market cap of $4.04 trillion, a P/E ratio of 41.48, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $277.32.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping the consensus estimate of $1.74 by $0.11. The firm had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $1.64 EPS. As a group, research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Monday, November 10th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, November 10th. Apple’s payout ratio is presently 13.92%.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several analyst reports. Barclays increased their target price on Apple from $180.00 to $230.00 and gave the company an “underweight” rating in a report on Friday, October 31st. Moffett Nathanson raised Apple from a “sell” rating to a “neutral” rating and set a $225.00 price objective for the company in a research note on Thursday, September 4th. Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and raised their target price for the stock from $226.00 to $315.00 in a report on Monday, October 20th. Evercore ISI upped their price target on shares of Apple from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Finally, Rosenblatt Securities raised their price target on shares of Apple from $241.00 to $250.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $278.22.

Insider Activity

In other news, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the transaction, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. This represents a 3.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the sale, the senior vice president owned 136,687 shares in the company, valued at $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 228,052 shares of company stock worth $58,604,588. Company insiders own 0.06% of the company’s stock.

Apple 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.