Janney Capital Management LLC Buys 5,881 Shares of Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on May 9th, 2023

Janney Capital Management LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 5.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 113,450 shares of the iPhone maker’s stock after purchasing an additional 5,881 shares during the quarter. Apple accounts for 1.1% of Janney Capital Management LLC’s holdings, making the stock its 29th biggest holding. Janney Capital Management LLC’s holdings in Apple were worth $14,741,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Robinson Value Management Ltd. purchased a new position in shares of Apple during the third quarter valued at $28,000. Hanseatic Management Services Inc. increased its stake 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 period. HBC Financial Services PLLC increased its stake 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 period. Align Wealth Management LLC purchased a new position in shares of Apple during the fourth quarter valued at $55,000. Finally, CFS Investment Advisory Services LLC increased its stake in shares of Apple by 14,693.8% during the third quarter. CFS Investment Advisory Services LLC now owns 6,024,330 shares of the iPhone maker’s stock valued at $65,000 after buying an additional 5,983,608 shares during the period. Institutional investors own 57.60% of the company’s stock.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 69,996 shares of the business’s stock in a transaction on Thursday, April 13th. The shares were sold at an average price of $165.25, for a total transaction of $11,566,839.00. Following the sale, the chief financial officer now directly owns 107,661 shares of the company’s stock, 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 Apple news, SVP Deirdre O’brien sold 43,622 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $165.41, for a total transaction of $7,215,515.02. Following the completion of the transaction, the senior vice president now owns 136,444 shares in the company, valued at $22,569,202.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 69,996 shares of the firm’s stock in a transaction that occurred on Thursday, April 13th. The shares were sold at an average price of $165.25, for a total transaction of $11,566,839.00. Following the completion of the sale, the chief financial officer now directly owns 107,661 shares of the company’s stock, valued at approximately $17,790,980.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 435,437 shares of company stock valued at $70,994,677. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the topic of several research reports. Evercore ISI restated an “outperform” rating and set a $190.00 price target on shares of Apple in a research note on Monday, February 6th. StockNews.com assumed coverage on Apple in a research report on Thursday, March 16th. They set a “hold” rating on the stock. JPMorgan Chase & Co. raised their price objective on Apple from $175.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, April 19th. Raymond James dropped their price objective on Apple from $185.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. Finally, Fundamental Research reaffirmed a “buy” rating and set a $168.00 price objective on shares of Apple in a research report on Tuesday, February 14th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.29.

Apple Stock Performance

Shares of AAPL stock opened at $173.50 on Tuesday. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $176.15. The company has a market cap of $2.75 trillion, a price-to-earnings ratio of 29.46, a price-to-earnings-growth ratio of 2.31 and a beta of 1.29. The stock has a 50 day simple moving average of $160.61 and a 200-day simple moving average of $149.14. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.76.

Apple (NASDAQ:AAPL – Get Rating) last issued its earnings results on Thursday, May 4th. The iPhone maker reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. Apple had a return on equity of 170.97% and a net margin of 24.49%. The firm had revenue of $94.84 billion for the quarter, compared to analysts’ expectations of $92.84 billion. During the same quarter last year, the firm earned $1.52 earnings per share. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, equities analysts forecast that Apple Inc. will post 6 EPS for the current year.

Apple declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 4th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 18th. Shareholders of record on Monday, May 15th will be paid a $0.24 dividend. This is an increase from Apple’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Friday, May 12th. Apple’s payout ratio is presently 15.62%.

About Apple

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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.