Rockline Wealth Management LLC Increases Holdings in Apple Inc. (NASDAQ:AAPL)

Rockline Wealth Management LLC raised its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 15.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 146,132 shares of the iPhone maker's stock after buying an additional 19,601 shares during the quarter. Apple comprises about 9.5% of Rockline Wealth Management LLC's holdings, making the stock its 2nd largest position. Rockline Wealth Management LLC's holdings in Apple were worth $30,778,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Capital International Investors lifted its stake in Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker's stock worth $6,369,852,000 after purchasing an additional 2,474,887 shares during the last quarter. Jennison Associates LLC lifted its stake in Apple by 1.7% during the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker's stock worth $5,061,296,000 after purchasing an additional 485,873 shares during the last quarter. Swedbank AB lifted its stake in Apple by 13.4% during the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker's stock worth $4,214,222,000 after purchasing an additional 2,359,409 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Apple by 16.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker's stock worth $3,085,427,000 after purchasing an additional 2,594,138 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in Apple by 2.5% during the first quarter. Nordea Investment Management AB now owns 17,247,950 shares of the iPhone maker's stock worth $2,951,297,000 after purchasing an additional 415,186 shares during the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Raymond James lifted their price target on Apple from $200.00 to $250.00 and gave the stock an "outperform" rating in a research note on Friday, July 26th. Needham & Company LLC reissued a "buy" rating and issued a $260.00 target price on shares of Apple in a research note on Thursday, September 19th. KeyCorp reissued a "hold" rating and issued a $247.61 target price on shares of Apple in a research note on Wednesday, August 28th. UBS Group reissued a "hold" rating and issued a $236.00 target price on shares of Apple in a research note on Wednesday. Finally, The Goldman Sachs Group boosted their target price on Apple from $265.00 to $275.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $239.27.

Apple Stock Up 0.2 %

Shares of Apple stock traded up $0.37 during midday trading on Thursday, hitting $232.15. The company had a trading volume of 32,979,677 shares, compared to its average volume of 60,205,457. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The stock has a market capitalization of $3.56 trillion, a P/E ratio of 36.03, a P/E/G ratio of 2.40 and a beta of 1.24. The company has a 50 day moving average of $225.03 and a 200 day moving average of $207.22. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm's quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.26 EPS. On average, equities analysts predict that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple's dividend payout ratio is 15.55%.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 517,924 shares of company stock worth $114,786,399. Insiders own 0.06% of the company's stock.

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.