Chickasaw Capital Management LLC Has $17.52 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Posted by on Mar 21st, 2023

Chickasaw Capital Management LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 134,854 shares of the iPhone maker’s stock after selling 4,610 shares during the period. Apple makes up approximately 0.9% of Chickasaw Capital Management LLC’s investment portfolio, making the stock its 19th largest holding. Chickasaw Capital Management LLC’s holdings in Apple were worth $17,522,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Wealthspire Advisors LLC boosted its holdings in shares of Apple by 42.8% during the second quarter. Wealthspire Advisors LLC now owns 299,829 shares of the iPhone maker’s stock worth $40,993,000 after acquiring an additional 89,865 shares during the period. Eagle Bay Advisors LLC lifted its stake in Apple by 35.7% during the second quarter. Eagle Bay Advisors LLC now owns 25,608 shares of the iPhone maker’s stock worth $3,501,000 after purchasing an additional 6,735 shares during the last quarter. Callan Capital LLC increased its holdings in shares of Apple by 1.6% during the second quarter. Callan Capital LLC now owns 85,226 shares of the iPhone maker’s stock worth $11,652,000 after buying an additional 1,322 shares in the last quarter. Bennett Selby Investments LP increased its holdings in shares of Apple by 0.3% during the third quarter. Bennett Selby Investments LP now owns 151,793 shares of the iPhone maker’s stock worth $20,978,000 after buying an additional 450 shares in the last quarter. Finally, Blueshift Asset Management LLC acquired a new position in shares of Apple during the third quarter worth $563,000. 57.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of recent research reports. Sanford C. Bernstein set a $125.00 price objective on Apple in a report on Tuesday, January 24th. Raymond James cut their price objective on shares of Apple from $185.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price target on shares of Apple in a research report on Friday, February 3rd. Cowen decreased their price objective on shares of Apple from $200.00 to $195.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. Finally, UBS Group set a $180.00 price target on shares of Apple in a research note on Tuesday, March 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $168.24.

Apple Trading Up 1.5 %

AAPL stock opened at $157.40 on Tuesday. The company has a market capitalization of $2.49 trillion, a PE ratio of 26.72, a P/E/G ratio of 2.05 and a beta of 1.30. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $179.61. The firm’s 50-day moving average is $147.18 and its 200 day moving average is $145.23. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.94 and a quick ratio of 0.89.

Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.05). The company had revenue of $117.15 billion during 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 company’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.10 EPS. On average, research analysts anticipate that Apple Inc. will post 6.04 EPS for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 16th. Investors of record on Monday, February 13th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Friday, February 10th. This is an increase from Apple’s previous quarterly dividend of $0.17. Apple’s dividend payout ratio (DPR) is currently 15.62%.

Apple Company 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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