Apple Inc. (NASDAQ:AAPL) Shares Sold by Chickasaw Capital Management LLC

Posted by on Mar 21st, 2023

Chickasaw Capital Management LLC decreased its position in 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 & Exchange Commission. The institutional investor owned 134,854 shares of the iPhone maker’s stock after selling 4,610 shares during the quarter. Apple accounts for about 0.9% of Chickasaw Capital Management LLC’s holdings, making the stock its 19th biggest holding. Chickasaw Capital Management LLC’s holdings in Apple were worth $17,522,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can purchased a new stake in shares of Apple in the 3rd quarter valued at approximately $1,890,884,000. Barclays PLC increased its position in shares of Apple by 53.0% in the 3rd quarter. Barclays PLC now owns 30,235,823 shares of the iPhone maker’s stock valued at $4,178,590,000 after purchasing an additional 10,471,342 shares during the last quarter. Legal & General Group Plc increased its position in shares of Apple by 8.2% in the 2nd quarter. Legal & General Group Plc now owns 123,534,393 shares of the iPhone maker’s stock valued at $16,889,649,000 after purchasing an additional 9,411,018 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Apple by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after buying an additional 8,734,393 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in shares of Apple by 12.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 80,467,043 shares of the iPhone maker’s stock valued at $11,001,469,000 after buying an additional 8,716,964 shares during the last quarter. Hedge funds and other institutional investors own 57.60% of the company’s stock.

Apple Trading Up 1.5 %

Shares of AAPL stock opened at $157.40 on Tuesday. The stock has a market cap of $2.49 trillion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 2.05 and a beta of 1.30. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.76. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $179.61. The firm’s 50 day moving average price is $147.18 and its two-hundred day moving average price is $145.23.

Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.05). The business had revenue of $117.15 billion for the quarter, compared to analyst estimates of $121.67 billion. Apple had a net margin of 24.56% and a return on equity of 163.45%. The company’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period last year, the firm earned $2.10 earnings per share. On average, analysts anticipate that Apple Inc. will post 6.04 EPS for the current year.

Apple Increases Dividend

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

Analysts Set New Price Targets

AAPL has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft set a $160.00 target price on shares of Apple in a research report on Friday, February 3rd. Jefferies Financial Group reissued a “buy” rating and set a $195.00 price objective on shares of Apple in a research report on Thursday, March 2nd. Oppenheimer reduced their target price on shares of Apple from $190.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, December 12th. Fundamental Research restated a “buy” rating and issued a $168.00 target price on shares of Apple in a research note on Tuesday, February 14th. Finally, Canaccord Genuity Group reduced their target price on shares of Apple from $200.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, January 18th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, the stock 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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