Fusion Family Wealth LLC Grows Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Apr 18th, 2023

Fusion Family Wealth LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,974 shares of the iPhone maker’s stock after acquiring an additional 148 shares during the quarter. Apple comprises approximately 0.1% of Fusion Family Wealth LLC’s portfolio, making the stock its 26th biggest position. Fusion Family Wealth LLC’s holdings in Apple were worth $516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of AAPL. Robinson Value Management Ltd. bought a new position in shares of Apple during the third quarter valued at $28,000. Hanseatic Management Services Inc. grew its holdings in shares of Apple by 75.4% during the third quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock valued at $34,000 after buying an additional 107 shares during the last quarter. HBC Financial Services PLLC grew its holdings in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after buying an additional 80 shares during the last quarter. Morgan Dempsey Capital Management LLC purchased a new stake in shares of Apple during the third quarter valued at approximately $55,000. Finally, Align Wealth Management LLC purchased a new stake in shares of Apple during the fourth quarter valued at approximately $55,000. 57.60% of the stock is currently owned by institutional investors.

Apple Stock Up 0.0 %

Shares of AAPL opened at $165.23 on Tuesday. The stock has a market capitalization of $2.61 trillion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 2.19 and a beta of 1.30. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $176.15. The business’s 50 day simple moving average is $155.46 and its 200-day simple moving average is $146.27. 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 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 firm had revenue of $117.15 billion for the quarter, compared to analysts’ expectations of $121.67 billion. During the same period last year, the company earned $2.10 earnings per share. The firm’s revenue was down 5.5% on a year-over-year basis. As a group, equities analysts expect that Apple Inc. will post 6.03 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were issued a $0.23 dividend. 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 dividend yield of 0.56%. Apple’s payout ratio is 15.62%.

Insider Transactions at Apple

In other news, CFO Luca Maestri sold 69,996 shares of Apple stock in a transaction that occurred on Thursday, April 13th. The stock was sold at an average price of $165.25, for a total value of $11,566,839.00. Following the completion of the transaction, the chief financial officer now owns 107,661 shares in the company, valued at approximately $17,790,980.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Luca Maestri sold 69,996 shares of Apple stock in a transaction that occurred on Thursday, April 13th. The stock was sold at an average price of $165.25, for a total value of $11,566,839.00. Following the completion of the transaction, the chief financial officer now owns 107,661 shares in the company, valued at approximately $17,790,980.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $29,991,744.80. Following the completion of the sale, the chief operating officer now owns 489,816 shares of the company’s stock, valued at approximately $78,253,004.16. The disclosure for this sale can be found here. Insiders have sold a total of 435,437 shares of company stock worth $70,994,677 in the last three months. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AAPL shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $195.00 price target on shares of Apple in a report on Thursday, March 2nd. Cowen lowered their price target on Apple from $200.00 to $195.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 price target on shares of Apple in a report on Friday, February 3rd. The Goldman Sachs Group initiated coverage on shares of Apple in a research report on Sunday, March 5th. They set a “buy” rating and a $199.00 price objective on the stock. Finally, DA Davidson increased their price objective on shares of Apple from $167.00 to $173.00 and gave the company a “buy” rating in a research report on Friday, February 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.38.

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.