Baystate Wealth Management LLC Sells 4,897 Shares of Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Mar 26th, 2023

Baystate Wealth Management LLC lowered its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 6.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,634 shares of the iPhone maker’s stock after selling 4,897 shares during the period. Apple comprises about 0.8% of Baystate Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Baystate Wealth Management LLC’s holdings in Apple were worth $9,048,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Lam Group Inc. bought a new stake in Apple during the fourth quarter valued at about $500,000. Worth Asset Management LLC grew its holdings in Apple by 3.8% during the fourth quarter. Worth Asset Management LLC now owns 21,629 shares of the iPhone maker’s stock valued at $2,810,000 after purchasing an additional 788 shares during the period. RVW Wealth LLC grew its holdings in Apple by 1.0% during the fourth quarter. RVW Wealth LLC now owns 96,686 shares of the iPhone maker’s stock valued at $12,562,000 after purchasing an additional 1,001 shares during the period. Mutual Advisors LLC grew its holdings in Apple by 5.5% during the fourth quarter. Mutual Advisors LLC now owns 599,079 shares of the iPhone maker’s stock valued at $77,838,000 after purchasing an additional 31,171 shares during the period. Finally, Brown Miller Wealth Management LLC grew its holdings in Apple by 0.3% during the fourth quarter. Brown Miller Wealth Management LLC now owns 115,833 shares of the iPhone maker’s stock valued at $15,050,000 after purchasing an additional 323 shares during the period. Institutional investors own 57.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AAPL shares. Jefferies Financial Group reissued a “buy” rating and set a $195.00 price target on shares of Apple in a report on Thursday, March 2nd. Wedbush boosted their price objective on Apple from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, March 8th. Sanford C. Bernstein set a $125.00 price objective on Apple in a research report on Tuesday, January 24th. The Goldman Sachs Group began coverage on Apple in a research report on Sunday, March 5th. They issued a “buy” rating and a $199.00 price objective on the stock. Finally, National Bank Financial lowered their price objective on Apple to $54.00 and set an “outperform” rating on the stock in a research report on Friday, January 20th. Two investment 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $168.24.

Insider Activity

In other news, COO Jeffrey E. Williams sold 187,730 shares of the company’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was 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 $78,253,004.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.06% of the company’s stock.

Apple Trading Up 0.8 %

Shares of AAPL stock opened at $160.25 on Friday. 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. The stock’s 50 day simple moving average is $149.26 and its two-hundred day simple moving average is $145.40. The company has a market cap of $2.54 trillion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 2.09 and a beta of 1.30.

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). Apple had a net margin of 24.56% and a return on equity of 163.45%. The company had revenue of $117.15 billion for the quarter, compared to analysts’ expectations of $121.67 billion. During the same quarter last year, the company earned $2.10 earnings per share. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. Research analysts predict that Apple Inc. will post 6.04 earnings per share for the current year.

Apple Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Friday, February 10th. This is an increase from Apple’s previous quarterly dividend of $0.17. This represents a $0.92 dividend on an annualized basis and a yield of 0.57%. Apple’s dividend payout ratio is 15.62%.

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.