RB Capital Management LLC Sells 4,280 Shares of Apple Inc. (AAPL)
RB Capital Management LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 8.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,741 shares of the iPhone maker’s stock after selling 4,280 shares during the period. Apple accounts for 6.2% of RB Capital Management LLC’s holdings, making the stock its 2nd largest position. RB Capital Management LLC’s holdings in Apple were worth $6,571,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Apple during the fourth quarter valued at about $5,625,709,000. Fisher Asset Management LLC raised its position in shares of Apple by 1.2% in the first quarter. Fisher Asset Management LLC now owns 11,638,395 shares of the iPhone maker’s stock valued at $1,671,972,000 after buying an additional 140,368 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Apple by 23.2% in the first quarter. Canada Pension Plan Investment Board now owns 9,289,482 shares of the iPhone maker’s stock valued at $1,334,527,000 after buying an additional 1,749,797 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Apple by 2.5% in the fourth quarter. AQR Capital Management LLC now owns 6,605,140 shares of the iPhone maker’s stock valued at $765,008,000 after buying an additional 161,560 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its position in shares of Apple by 1.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 5,174,924 shares of the iPhone maker’s stock valued at $743,409,000 after buying an additional 66,038 shares during the last quarter. 60.43% of the stock is currently owned by institutional investors and hedge funds.
Apple Inc. (AAPL) traded up 0.09% during midday trading on Friday, hitting $164.15. The stock had a trading volume of 7,086,404 shares. Apple Inc. has a 1-year low of $102.53 and a 1-year high of $164.94. The firm has a 50-day moving average price of $155.91 and a 200-day moving average price of $147.64. The firm has a market capitalization of $847.87 billion, a price-to-earnings ratio of 18.64 and a beta of 1.31.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.10. Apple had a return on equity of 35.40% and a net margin of 20.87%. The firm had revenue of $45.41 billion for the quarter, compared to analyst estimates of $44.94 billion. During the same quarter in the previous year, the firm earned $1.42 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities research analysts anticipate that Apple Inc. will post $9.02 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were paid a dividend of $0.63 per share. The ex-dividend date was Thursday, August 10th. This represents a $2.52 annualized dividend and a dividend yield of 1.54%. Apple’s dividend payout ratio is currently 28.64%.
WARNING: “RB Capital Management LLC Sells 4,280 Shares of Apple Inc. (AAPL)” was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark law. The correct version of this article can be read at https://www.thecerbatgem.com/2017/09/01/rb-capital-management-llc-sells-4280-shares-of-apple-inc-aapl.html.
AAPL has been the topic of several research reports. Oppenheimer Holdings, Inc. reissued a “” rating on shares of Apple in a report on Thursday, August 10th. Canaccord Genuity reissued a “buy” rating and set a $180.00 price objective (up from $165.00) on shares of Apple in a report on Tuesday, May 16th. Hilliard Lyons lifted their price objective on shares of Apple from $147.00 to $170.00 and gave the company a “buy” rating in a report on Monday, May 15th. Drexel Hamilton reissued a “buy” rating and set a $202.00 price objective (up from $185.00) on shares of Apple in a report on Monday, May 8th. Finally, Bank of America Corporation reissued a “buy” rating and set a $180.00 price objective (up from $155.00) on shares of Apple in a report on Friday, May 12th. Eleven analysts have rated the stock with a hold rating, forty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Apple has a consensus rating of “Buy” and an average target price of $168.67.
In other news, insider Daniel J. Riccio sold 11,949 shares of Apple stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $142.86, for a total transaction of $1,707,034.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Craig Federighi sold 63,163 shares of Apple stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $158.07, for a total value of $9,984,175.41. Following the transaction, the insider now owns 359,988 shares of the company’s stock, valued at $56,903,303.16. The disclosure for this sale can be found here. Insiders have sold a total of 444,879 shares of company stock valued at $70,864,495 over the last quarter. 0.08% of the stock is currently owned by corporate insiders.
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
Receive News & Stock Ratings for Apple Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Inc. and related stocks with our FREE daily email newsletter.