Apple Inc. (NASDAQ:AAPL) Stock Position Raised by Bison Wealth LLC

Posted by on Mar 14th, 2023

Bison Wealth LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 39.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 108,763 shares of the iPhone maker’s stock after purchasing an additional 31,043 shares during the quarter. Apple accounts for about 5.9% of Bison Wealth LLC’s holdings, making the stock its largest position. Bison Wealth LLC’s holdings in Apple were worth $15,031,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in AAPL. MKT Advisors LLC boosted its stake in shares of Apple by 0.5% during the 2nd quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after purchasing an additional 60 shares during the period. Your Advocates Ltd. LLP boosted its position in shares of Apple by 1.0% during the second quarter. Your Advocates Ltd. LLP now owns 6,339 shares of the iPhone maker’s stock valued at $867,000 after buying an additional 65 shares during the period. Aufman Associates Inc grew its stake in shares of Apple by 0.9% during the second quarter. Aufman Associates Inc now owns 7,674 shares of the iPhone maker’s stock valued at $1,049,000 after buying an additional 66 shares during the last quarter. Silver Oak Advisory Group Inc. grew its stake in shares of Apple by 1.8% during the second quarter. Silver Oak Advisory Group Inc. now owns 3,925 shares of the iPhone maker’s stock valued at $537,000 after buying an additional 69 shares during the last quarter. Finally, Lowe Wealth Advisors LLC lifted its stake in shares of Apple by 1.4% during the 3rd quarter. Lowe Wealth Advisors LLC now owns 4,993 shares of the iPhone maker’s stock worth $690,000 after acquiring an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 57.60% of the company’s stock.

Apple Price Performance

Shares of AAPL stock opened at $150.47 on Tuesday. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $179.61. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.89 and a current ratio of 0.94. The firm has a market capitalization of $2.38 trillion, a price-to-earnings ratio of 25.55, a PEG ratio of 1.97 and a beta of 1.30. The stock’s 50-day simple moving average is $144.43 and its 200-day simple moving average is $145.41.

Apple (NASDAQ:AAPL – Get Rating) last released its earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.05). The company had revenue of $117.15 billion for the quarter, compared to analysts’ expectations of $121.67 billion. Apple had a return on equity of 163.45% and a net margin of 24.56%. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.10 EPS. As a group, equities analysts forecast that Apple Inc. will post 6.04 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Investors of record on Monday, February 13th were paid a $0.23 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, February 10th. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. Apple’s dividend payout ratio (DPR) is 15.62%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. The Goldman Sachs Group initiated coverage on Apple in a research report on Sunday, March 5th. They issued a “buy” rating and a $199.00 price objective on the stock. Canaccord Genuity Group reduced their price target on shares of Apple from $200.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, January 18th. Wedbush boosted their price objective on shares of Apple from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, March 8th. Barclays lifted their price target on shares of Apple from $133.00 to $145.00 and gave the company an “equal weight” rating in a research note on Friday, February 3rd. Finally, DA Davidson increased their price objective on Apple from $167.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, February 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $168.24.

Apple Profile

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Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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