Lam Group Inc. Invests $500,000 in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Mar 26th, 2023

Lam Group Inc. purchased a new position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,846 shares of the iPhone maker’s stock, valued at approximately $500,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AAPL. IFM Investors Pty Ltd lifted its stake in Apple by 20.0% in the 1st quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock valued at $456,728,000 after purchasing an additional 435,891 shares during the last quarter. Ironwood Wealth Management LLC. raised its stake in shares of Apple by 0.4% during the first quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock valued at $42,016,000 after acquiring an additional 1,040 shares during the last quarter. Markel Corp raised its stake in shares of Apple by 0.7% during the first quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock valued at $210,752,000 after acquiring an additional 8,450 shares during the last quarter. Camden Capital LLC raised its stake in shares of Apple by 9.2% during the first quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock valued at $27,305,000 after acquiring an additional 13,200 shares during the last quarter. Finally, Harbor Island Capital LLC raised its stake in shares of Apple by 0.3% during the first quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock valued at $23,629,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 57.60% of the company’s stock.

Apple Stock Up 0.8 %

Shares of NASDAQ AAPL opened at $160.25 on Friday. The stock has a market capitalization of $2.54 trillion, a P/E ratio of 27.21, a P/E/G ratio of 2.09 and a beta of 1.30. The company has a 50-day moving average price of $149.26 and a 200-day moving average price of $145.40. Apple Inc. has a 1 year low of $124.17 and a 1 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.

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). 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 firm’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.10 earnings per share. On average, equities research analysts forecast that Apple Inc. will post 6.04 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 16th. Investors of record on Monday, February 13th were given a dividend of $0.23 per share. This is a positive change from Apple’s previous quarterly dividend of $0.17. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Friday, February 10th. Apple’s dividend payout ratio (DPR) is presently 15.62%.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 187,730 shares of the firm’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 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on AAPL. Rosenblatt Securities raised their price target on shares of Apple from $165.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. National Bank Financial dropped their price target on shares of Apple to $54.00 and set an “outperform” rating for the company in a research note on Friday, January 20th. Canaccord Genuity Group dropped their price target 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. Evercore ISI reiterated an “outperform” rating and set a $190.00 price objective on shares of Apple in a research report on Monday, February 6th. Finally, Cowen decreased their price objective on shares of Apple from $200.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus 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.