MCIA Inc Sells 1,415 Shares of Apple Inc. (NASDAQ:AAPL)

Posted by on Mar 22nd, 2023

MCIA Inc decreased its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,475 shares of the iPhone maker’s stock after selling 1,415 shares during the quarter. Apple makes up approximately 1.3% of MCIA Inc’s portfolio, making the stock its 12th largest position. MCIA Inc’s holdings in Apple were worth $2,938,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AAPL. Robinson Value Management Ltd. purchased a new position in shares of Apple in the 3rd quarter worth about $28,000. Hanseatic Management Services Inc. boosted its holdings in shares of Apple by 75.4% in the 3rd 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 last quarter. Cheyne Capital Management UK LLP boosted its holdings in shares of Apple by 200.0% in the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $293,000 after buying an additional 550 shares during the last quarter. Ramsey Quantitative Systems purchased a new position in shares of Apple in the 2nd quarter worth about $55,000. Finally, Morgan Dempsey Capital Management LLC purchased a new position in shares of Apple in the 3rd quarter worth about $55,000. Institutional investors own 57.60% of the company’s stock.

Apple Stock Up 1.2 %

Shares of NASDAQ AAPL opened at $159.28 on Wednesday. Apple Inc. has a one year low of $124.17 and a one year high of $179.61. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.94 and a quick ratio of 0.89. The firm’s 50 day simple moving average is $147.75 and its two-hundred day simple moving average is $145.25. The stock has a market capitalization of $2.52 trillion, a P/E ratio of 27.04, a PEG ratio of 2.05 and a beta of 1.30.

Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 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 business had revenue of $117.15 billion for the quarter, compared to the consensus estimate of $121.67 billion. During the same quarter in the previous year, the business earned $2.10 earnings per share. The firm’s revenue was down 5.5% on a year-over-year basis. As a group, analysts expect that Apple Inc. will post 6.04 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 16th. Shareholders 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 yield of 0.58%. The ex-dividend date of this dividend was Friday, February 10th. Apple’s dividend payout ratio (DPR) is presently 15.62%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AAPL shares. BNP Paribas downgraded shares of Apple from an “outperform” rating to a “neutral” rating and set a $140.00 price target on the stock. in a report on Tuesday, January 3rd. Barclays upped their price objective on shares of Apple from $133.00 to $145.00 and gave the company an “equal weight” rating in a report on Friday, February 3rd. Fundamental Research reaffirmed a “buy” rating and set a $168.00 price objective on shares of Apple in a report on Tuesday, February 14th. Deutsche Bank Aktiengesellschaft set a $160.00 price objective on shares of Apple in a report on Friday, February 3rd. Finally, Credit Suisse Group set a $184.00 price objective on shares of Apple in a report on Monday, February 6th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $168.24.

About Apple

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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

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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