33,352 Shares in Apple Inc. (NASDAQ:AAPL) Bought by Shira Ridge Wealth Management

Posted by on Mar 25th, 2023

Shira Ridge Wealth Management bought a new position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 33,352 shares of the iPhone maker’s stock, valued at approximately $4,333,000. Apple comprises 3.0% of Shira Ridge Wealth Management’s holdings, making the stock its 11th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Robinson Value Management Ltd. purchased a new stake in Apple during the 3rd quarter valued at about $28,000. Hanseatic Management Services Inc. grew its stake in Apple by 75.4% during the 3rd quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock valued at $34,000 after purchasing an additional 107 shares during the last quarter. Bluestem Financial Advisors LLC grew its stake in Apple by 5,935.2% during the 2nd 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 last quarter. HBC Financial Services PLLC grew its stake in Apple by 21.7% during the 1st 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 last quarter. Finally, Ramsey Quantitative Systems purchased a new stake in Apple during the 2nd quarter valued at about $55,000. 57.60% of the stock is currently owned by hedge funds and other institutional investors.

Apple Trading Up 0.8 %

Shares of AAPL opened at $160.25 on Friday. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $179.61. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.76. The firm’s fifty day moving average is $149.26 and its two-hundred day moving average is $145.47. The stock has a market cap 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.

Apple (NASDAQ:AAPL – Get Rating) last announced its 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 business 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 company’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period last year, the firm earned $2.10 EPS. Research analysts forecast that Apple Inc. will post 6.04 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently declared 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. The ex-dividend date was Friday, February 10th. This represents a $0.92 annualized dividend and a dividend yield of 0.57%. Apple’s payout ratio is presently 15.62%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Cowen dropped their price target on Apple from $200.00 to $195.00 and set an “outperform” rating on the stock in a research note on Friday, February 3rd. Credit Suisse Group set a $184.00 price objective on Apple in a report on Monday, February 6th. Jefferies Financial Group reissued a “buy” rating and issued a $195.00 price objective on shares of Apple in a report on Thursday, March 2nd. Piper Sandler reissued an “overweight” rating and issued a $195.00 price objective on shares of Apple in a report on Friday, February 3rd. Finally, Evercore ISI reissued an “outperform” rating and issued a $190.00 price objective on shares of Apple in a report on Monday, February 6th. 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’s stock. According to MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $168.24.

Insider Activity

In other news, COO Jeffrey E. Williams sold 187,730 shares of the business’s stock in a transaction dated Wednesday, March 22nd. The shares were sold at an average price of $159.76, for a total transaction of $29,991,744.80. Following the transaction, the chief operating officer now owns 489,816 shares of the company’s stock, valued at approximately $78,253,004.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.06% of the company’s stock.

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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