Intellectus Partners LLC Sells 772 Shares of Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on May 17th, 2023

Intellectus Partners LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,792 shares of the iPhone maker’s stock after selling 772 shares during the quarter. Apple accounts for approximately 1.2% of Intellectus Partners LLC’s holdings, making the stock its 12th biggest position. Intellectus Partners LLC’s holdings in Apple were worth $3,481,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Great West Life Assurance Co. Can purchased a new stake in shares of Apple during the 3rd quarter worth approximately $1,890,884,000. Barclays PLC raised its holdings 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 worth $4,178,590,000 after acquiring an additional 10,471,342 shares in the last quarter. Vanguard Group Inc. increased 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 last quarter. AustralianSuper Pty Ltd bought a new position in shares of Apple during the 4th quarter valued at approximately $1,075,599,000. Finally, Swiss National Bank increased 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 last quarter. 57.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several analyst reports. Needham & Company LLC boosted their target price on Apple from $170.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, May 5th. Atlantic Securities increased their target price on Apple from $180.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, May 5th. DA Davidson increased their target price on Apple from $173.00 to $193.00 and gave the stock a “buy” rating in a research note on Friday, May 5th. UBS Group set a $180.00 target price on Apple in a research note on Monday, April 3rd. Finally, Canaccord Genuity Group increased their target price on Apple from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, May 5th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $174.29.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 187,730 shares of the firm’s stock in a transaction on 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 sale, the chief operating officer now owns 489,816 shares in the company, valued at $78,253,004.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Jeffrey E. Williams sold 187,730 shares of the firm’s stock in a transaction on 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 sale, the chief operating officer now owns 489,816 shares in the company, valued at $78,253,004.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 4,092 shares of Apple stock in a transaction on Monday, May 8th. The shares were sold at an average price of $173.26, for a total value of $708,979.92. Following the completion of the transaction, the insider now owns 33,946 shares in the company, valued at approximately $5,881,483.96. The disclosure for this sale can be found here. Insiders have sold 439,529 shares of company stock worth $71,703,657 over the last quarter. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

NASDAQ AAPL opened at $172.07 on Wednesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.94 and a quick ratio of 0.88. The business has a 50 day moving average price of $163.43 and a 200 day moving average price of $150.10. The company has a market capitalization of $2.71 trillion, a P/E ratio of 29.21, a PEG ratio of 2.31 and a beta of 1.29. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $176.15.

Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The iPhone maker reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.08. The company had revenue of $94.84 billion during the quarter, compared to the consensus estimate of $92.84 billion. Apple had a return on equity of 165.72% and a net margin of 24.49%. Apple’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.52 earnings per share. Sell-side analysts expect that Apple Inc. will post 6 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 18th. Shareholders of record on Monday, May 15th will be given a dividend of $0.24 per share. This is an increase from Apple’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, May 12th. This represents a $0.96 annualized dividend and a yield of 0.56%. Apple’s dividend payout ratio (DPR) is presently 16.30%.

Apple announced that its Board of Directors has initiated a share buyback program on Thursday, May 4th that allows the company to repurchase $90.00 billion in shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

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.