Avity Investment Management Inc. Sells 10,783 Shares of Apple Inc. (NASDAQ:AAPL)

Posted by on Mar 25th, 2023

Avity Investment Management Inc. lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 379,025 shares of the iPhone maker’s stock after selling 10,783 shares during the quarter. Apple makes up approximately 5.0% of Avity Investment Management Inc.’s investment portfolio, making the stock its largest position. Avity Investment Management Inc.’s holdings in Apple were worth $49,247,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AAPL. Great West Life Assurance Co. Can acquired a new position in Apple during the third quarter worth approximately $1,890,884,000. Barclays PLC boosted its holdings in shares of Apple by 53.0% during the third quarter. Barclays PLC now owns 30,235,823 shares of the iPhone maker’s stock worth $4,178,590,000 after acquiring an additional 10,471,342 shares during the period. Legal & General Group Plc boosted its holdings in shares of Apple by 8.2% during the second quarter. Legal & General Group Plc now owns 123,534,393 shares of the iPhone maker’s stock worth $16,889,649,000 after acquiring an additional 9,411,018 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Apple by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after acquiring an additional 8,734,393 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of Apple by 12.1% during the second quarter. UBS Asset Management Americas Inc. now owns 80,467,043 shares of the iPhone maker’s stock worth $11,001,469,000 after acquiring an additional 8,716,964 shares during the period. Institutional investors and hedge funds own 57.60% of the company’s stock.

Apple Stock Up 0.8 %

Shares of NASDAQ:AAPL opened at $160.25 on Friday. The company has a fifty day moving average of $149.26 and a 200-day moving average of $145.47. The company has a market capitalization of $2.54 trillion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 2.11 and a beta of 1.30. 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 Inc. has a 52-week low of $124.17 and a 52-week high of $179.61.

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

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were paid a $0.23 dividend. This is a boost from Apple’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, February 10th. This represents a $0.92 annualized dividend and a dividend yield of 0.57%. Apple’s dividend payout ratio is presently 15.62%.

Analysts Set New Price Targets

AAPL has been the subject of a number of research analyst reports. Piper Sandler restated an “overweight” rating and set a $195.00 price objective on shares of Apple in a report on Friday, February 3rd. Credit Suisse Group set a $184.00 price objective on Apple in a report on Monday, February 6th. DA Davidson boosted their price objective on Apple from $167.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. Jefferies Financial Group restated a “buy” rating and set a $195.00 price objective on shares of Apple in a report on Thursday, March 2nd. Finally, Morgan Stanley boosted their price target on Apple from $175.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, March 3rd. 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $168.24.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 187,730 shares of Apple stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $159.76, for a total value of $29,991,744.80. Following the transaction, the chief operating officer now directly owns 489,816 shares of the company’s stock, valued at $78,253,004.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.

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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