RMR Capital Management LLC Sells 1,736 Shares of Apple Inc. $AAPL

RMR Capital Management LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 22.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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.

A number of other institutional investors have also recently bought and sold shares of AAPL. First National Bank of Hutchinson grew its position in shares of Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after acquiring an additional 6,982 shares during the period. Eagle Capital Management LLC lifted its stake in Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after purchasing an additional 272 shares during the last quarter. Brighton Jones LLC grew its holdings in Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after purchasing an additional 69,207 shares during the period. Revolve Wealth Partners LLC grew its holdings in Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after purchasing an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE increased its position in Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after buying an additional 1,155 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

Apple stock opened at $273.33 on Thursday. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $277.32. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $4.04 trillion, a PE ratio of 41.48, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. The firm’s 50 day simple moving average is $254.61 and its 200 day simple moving average is $226.08.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. The firm had revenue of $102.47 billion during the quarter, compared to analyst estimates of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.64 EPS. As a group, analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Investors 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 is Monday, November 10th. Apple’s payout ratio is presently 13.92%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AAPL. Wedbush reaffirmed an “outperform” rating on shares of Apple in a research report on Tuesday, October 21st. DZ Bank raised shares of Apple from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a report on Tuesday, November 4th. JPMorgan Chase & Co. lifted their target price on shares of Apple from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. UBS Group upped their price target on shares of Apple from $220.00 to $280.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Finally, Evercore ISI raised their price objective on shares of Apple from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $278.22.

Insiders Place Their Bets

In related news, SVP Deirdre O’brien sold 43,013 shares of the company’s 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 transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the sale, the senior vice president owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 228,052 shares of company stock worth $58,604,588. 0.06% of the stock is owned by corporate insiders.

About Apple

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.