Colton Groome Financial Advisors LLC Boosts Stake in Apple Inc. (NASDAQ:AAPL)

Posted by on Apr 20th, 2023

Colton Groome Financial Advisors LLC raised its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 58.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,973 shares of the iPhone maker’s stock after purchasing an additional 6,284 shares during the quarter. Apple accounts for approximately 1.1% of Colton Groome Financial Advisors LLC’s holdings, making the stock its 27th biggest holding. Colton Groome Financial Advisors LLC’s holdings in Apple were worth $2,205,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. Great West Life Assurance Co. Can purchased a new position in shares of Apple during the third quarter worth approximately $1,890,884,000. Barclays PLC increased its position in shares of Apple by 53.0% during the third quarter. Barclays PLC now owns 30,235,823 shares of the iPhone maker’s stock worth $4,178,590,000 after acquiring an additional 10,471,342 shares during the period. Vanguard Group Inc. increased its position in shares of Apple by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after acquiring an additional 8,734,393 shares during the period. Swiss National Bank increased its position in shares of Apple by 13.1% during the first quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock worth $12,407,910,000 after acquiring an additional 8,230,300 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Apple by 1,636.2% during the fourth quarter. International Assets Investment Management LLC now owns 6,638,067 shares of the iPhone maker’s stock worth $44,884,000 after acquiring an additional 6,255,726 shares during the period. 57.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O’brien sold 43,622 shares of Apple stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $165.41, for a total value of $7,215,515.02. Following the completion of the transaction, the senior vice president now owns 136,444 shares of the company’s stock, valued at $22,569,202.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Apple news, SVP Deirdre O’brien sold 43,622 shares of Apple stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $165.41, for a total value of $7,215,515.02. Following the completion of the transaction, the senior vice president now owns 136,444 shares of the company’s stock, valued at $22,569,202.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 77,817 shares of Apple stock in a transaction on Tuesday, April 4th. The shares were sold at an average price of $166.11, for a total transaction of $12,926,181.87. Following the completion of the transaction, the chief operating officer now directly owns 489,816 shares of the company’s stock, valued at approximately $81,363,335.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 435,437 shares of company stock valued at $70,994,677. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AAPL shares. Deutsche Bank Aktiengesellschaft set a $160.00 price objective on shares of Apple in a research note on Friday, February 3rd. Sanford C. Bernstein set a $125.00 price objective on shares of Apple in a research note on Tuesday, January 24th. The Goldman Sachs Group started coverage on shares of Apple in a research note on Sunday, March 5th. They set a “buy” rating and a $199.00 price objective on the stock. Credit Suisse Group increased their price objective on shares of Apple from $184.00 to $188.00 and gave the company an “outperform” rating in a research note on Thursday, April 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $170.00 price objective on shares of Apple in a research note on Thursday, March 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $169.82.

Apple Trading Up 0.7 %

Shares of Apple stock opened at $167.63 on Thursday. 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 firm has a fifty day moving average price of $156.28 and a 200 day moving average price of $146.78. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $176.15. The stock has a market cap of $2.65 trillion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 2.19 and a beta of 1.30.

Apple (NASDAQ:AAPL – Get Rating) last issued 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 business had revenue of $117.15 billion for the quarter, compared to analysts’ expectations of $121.67 billion. During the same period last year, the business earned $2.10 EPS. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. Equities research analysts predict that Apple Inc. will post 6.03 earnings per share for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Shareholders of record on Monday, February 13th were issued a $0.23 dividend. This is a boost from Apple’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, February 10th. This represents a $0.92 dividend on an annualized basis and a yield of 0.55%. Apple’s payout ratio is presently 15.62%.

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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