Apple Inc. (NASDAQ:AAPL) Shares Purchased by Grassi Investment Management

Posted by on Mar 21st, 2023

Grassi Investment Management raised its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 351,220 shares of the iPhone maker’s stock after purchasing an additional 1,421 shares during the period. Apple accounts for 6.2% of Grassi Investment Management’s portfolio, making the stock its largest position. Grassi Investment Management’s holdings in Apple were worth $45,634,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Robinson Value Management Ltd. purchased a new stake in Apple during the third quarter worth approximately $28,000. Hanseatic Management Services Inc. grew its stake in Apple by 75.4% during the third quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock worth $34,000 after buying an additional 107 shares during the period. Bluestem Financial Advisors LLC boosted its stake in shares of Apple by 5,935.2% in the second quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 229,929 shares during the period. HBC Financial Services PLLC boosted its stake in shares of Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the period. Finally, Ramsey Quantitative Systems purchased a new position in shares of Apple in the second quarter valued at $55,000. Institutional investors and hedge funds own 57.60% of the company’s stock.

Apple Stock Up 1.5 %

Shares of NASDAQ AAPL opened at $157.40 on Tuesday. The stock has a market cap of $2.49 trillion, a PE ratio of 26.72, a PEG ratio of 2.05 and a beta of 1.30. The business has a fifty day moving average of $147.18 and a two-hundred day moving average of $145.23. Apple Inc. has a 52-week low of $124.17 and a 52-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.

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

Apple Increases Dividend

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

Analyst Ratings Changes

Several brokerages have recently weighed in on AAPL. Jefferies Financial Group restated a “buy” rating and issued a $195.00 target price on shares of Apple in a research note on Thursday, March 2nd. Bank of America upped their target price on shares of Apple from $153.00 to $158.00 in a research note on Friday, February 3rd. DA Davidson increased their target price on shares of Apple from $167.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. BNP Paribas cut shares of Apple from an “outperform” rating to a “neutral” rating and set a $140.00 price objective on the stock. in a report on Tuesday, January 3rd. Finally, StockNews.com assumed coverage on shares of Apple in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.

See Also

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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