Hoxton Planning & Management LLC Makes New $3.15 Million Investment in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Apr 20th, 2023

Hoxton Planning & Management LLC purchased a new position in Apple Inc. (NASDAQ:AAPL – Get Rating) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 24,228 shares of the iPhone maker’s stock, valued at approximately $3,148,000. Apple accounts for about 1.7% of Hoxton Planning & Management LLC’s portfolio, making the stock its 11th largest position.

Other institutional investors have also added to or reduced their stakes in the company. Great West Life Assurance Co. Can bought a new stake in shares of Apple during the 3rd quarter valued at $1,890,884,000. Barclays PLC raised its position in shares of Apple by 53.0% during the 3rd quarter. Barclays PLC now owns 30,235,823 shares of the iPhone maker’s stock valued at $4,178,590,000 after purchasing an additional 10,471,342 shares during the period. Vanguard Group Inc. raised its position in shares of Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after purchasing an additional 8,734,393 shares during the period. Swiss National Bank raised its position in shares of Apple by 13.1% during the 1st quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock valued at $12,407,910,000 after purchasing an additional 8,230,300 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of Apple by 1,636.2% during the 4th quarter. International Assets Investment Management LLC now owns 6,638,067 shares of the iPhone maker’s stock valued at $44,884,000 after purchasing an additional 6,255,726 shares during the period. 57.60% of the stock is currently owned by institutional investors.

Apple Trading Up 0.7 %

Shares of AAPL opened at $167.63 on Thursday. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $176.15. The company has a 50-day moving average of $156.28 and a 200 day moving average of $146.78. The firm has a market capitalization of $2.65 trillion, a price-to-earnings ratio of 28.46, a PEG ratio of 2.19 and a beta of 1.30. 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 announced its quarterly earnings data on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share 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 the consensus estimate of $121.67 billion. During the same quarter in the previous year, the business earned $2.10 EPS. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, research analysts expect that Apple Inc. will post 6.03 EPS for the current year.

Apple Increases Dividend

The firm also recently declared 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 represents a $0.92 annualized dividend and a dividend yield of 0.55%. This is a positive change from Apple’s previous quarterly dividend of $0.17. Apple’s payout ratio is currently 15.62%.

Insider Activity

In other news, CEO Timothy D. Cook sold 56,072 shares of the business’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $165.17, for a total value of $9,261,412.24. Following the completion of the sale, the chief executive officer now owns 3,280,052 shares in the company, valued at approximately $541,766,188.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 value of $29,991,744.80. Following the completion of the sale, the chief operating officer now owns 489,816 shares in the company, valued at approximately $78,253,004.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy D. Cook sold 56,072 shares of the business’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $165.17, for a total transaction of $9,261,412.24. Following the completion of the sale, the chief executive officer now owns 3,280,052 shares of the company’s stock, valued at approximately $541,766,188.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 435,437 shares of company stock worth $70,994,677. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on AAPL shares. Credit Suisse Group raised their price objective on shares of Apple from $184.00 to $188.00 and gave the company an “outperform” rating in a research report on Thursday, April 13th. Fundamental Research reaffirmed a “buy” rating and set a $168.00 target price on shares of Apple in a research note on Tuesday, February 14th. Cowen cut their target price on shares of Apple from $200.00 to $195.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 target price on shares of Apple in a research note on Friday, February 3rd. Finally, The Goldman Sachs Group assumed coverage on shares of Apple in a research note on Sunday, March 5th. They set a “buy” rating and a $199.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $169.82.

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.