Handelsinvest Investeringsforvaltning Reduces Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Posted by on Apr 1st, 2023

Handelsinvest Investeringsforvaltning reduced its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 22.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,988 shares of the iPhone maker’s stock after selling 6,869 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Apple were worth $3,117,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Robinson Value Management Ltd. purchased a new stake in Apple during the 3rd quarter worth approximately $28,000. Hanseatic Management Services Inc. raised its position in shares of 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 acquiring an additional 107 shares in the last quarter. Cheyne Capital Management UK LLP raised its position in shares of Apple by 200.0% during the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $293,000 after acquiring an additional 550 shares in the last quarter. Ramsey Quantitative Systems acquired a new stake in shares of Apple during the 2nd quarter valued at approximately $55,000. Finally, Morgan Dempsey Capital Management LLC acquired a new stake in Apple in the third quarter worth $55,000. 57.60% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Up 1.6 %

Shares of AAPL opened at $164.90 on Friday. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $179.61. The stock has a market capitalization of $2.61 trillion, a price-to-earnings ratio of 28.00, a PEG ratio of 2.09 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. The stock has a fifty day moving average of $151.76 and a 200-day moving average of $145.59.

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). Apple had a return on equity of 163.45% and a net margin of 24.56%. The company had revenue of $117.15 billion for the quarter, compared to the consensus estimate of $121.67 billion. During the same period in the prior year, the business earned $2.10 earnings per share. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Apple Inc. will post 6.04 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, February 10th. This is an increase from Apple’s previous quarterly dividend of $0.17. This represents a $0.92 annualized dividend and a dividend yield of 0.56%. Apple’s dividend payout ratio (DPR) is currently 15.62%.

Wall Street Analyst Weigh In

AAPL has been the subject of several recent analyst reports. Fundamental Research reissued a “buy” rating and issued a $168.00 price target on shares of Apple in a research note on Tuesday, February 14th. Deutsche Bank Aktiengesellschaft set a $160.00 target price on Apple in a report on Friday, February 3rd. Cowen reduced their price objective on Apple from $200.00 to $195.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. Evercore ISI reissued an “outperform” rating and issued a $190.00 price objective on shares of Apple in a research note on Monday, February 6th. Finally, Canaccord Genuity Group cut their price target on Apple from $200.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, January 18th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $168.24.

Insider Activity

In other news, COO Jeffrey E. Williams sold 187,730 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 489,816 shares in the company, valued at approximately $78,253,004.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.06% of the stock is currently owned by company 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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