Windsor Capital Management LLC Cuts Stake in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Jun 24th, 2023

Windsor Capital Management LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,989 shares of the iPhone maker’s stock after selling 589 shares during the period. Apple comprises 1.4% of Windsor Capital Management LLC’s investment portfolio, making the stock its 26th largest holding. Windsor Capital Management LLC’s holdings in Apple were worth $3,956,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Robinson Value Management Ltd. purchased a new position in Apple in the third quarter worth approximately $28,000. St. James Investment Advisors LLC lifted its stake in Apple by 98.3% in the fourth quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock worth $31,000 after acquiring an additional 117 shares during the last quarter. Hanseatic Management Services Inc. lifted its stake in Apple by 75.4% in the third quarter. Hanseatic Management Services Inc. now owns 249 shares of the iPhone maker’s stock worth $34,000 after acquiring an additional 107 shares during the last quarter. HBC Financial Services PLLC lifted its stake in Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after acquiring an additional 80 shares during the last quarter. Finally, Align Wealth Management LLC acquired a new stake in Apple in the fourth quarter valued at $55,000. 57.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AAPL has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on Apple from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, May 5th. Wedbush reiterated an “outperform” rating and issued a $205.00 price target on shares of Apple in a research note on Monday, April 17th. Atlantic Securities increased their price target on shares of Apple from $180.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, May 5th. DA Davidson lowered shares of Apple from a “buy” rating to a “neutral” rating and dropped their price target for the company from $193.00 to $185.00 in a research note on Monday, June 5th. Finally, Loop Capital downgraded shares of Apple from a “buy” rating to a “hold” rating and set a $180.00 price objective for the company. in a research note on Monday, May 22nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.72.

Apple Stock Performance

Shares of AAPL opened at $186.68 on Friday. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $187.56. The company has a market capitalization of $2.94 trillion, a PE ratio of 31.69, a P/E/G ratio of 2.47 and a beta of 1.29. The company has a 50-day simple moving average of $174.88 and a 200-day simple moving average of $156.47. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.56.

Apple (NASDAQ:AAPL – Get Rating) last posted its earnings results on Thursday, May 4th. The iPhone maker reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.08. Apple had a return on equity of 165.72% and a net margin of 24.49%. The company had revenue of $94.84 billion for the quarter, compared to analyst estimates of $92.84 billion. During the same quarter in the prior year, the company earned $1.52 earnings per share. Apple’s revenue was down 2.5% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post 5.99 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 15th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.51%. This is a boost from Apple’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, May 12th. Apple’s dividend payout ratio (DPR) is 16.30%.

Apple announced that its board has approved a stock buyback program on Thursday, May 4th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 56,072 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $165.17, for a total value of $9,261,412.24. Following 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 transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Chris Kondo sold 4,092 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $5,881,483.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 56,072 shares of Apple stock in a transaction that occurred on Monday, April 3rd. The stock was 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 directly owns 3,280,052 shares of the company’s stock, valued at $541,766,188.84. The disclosure for this sale can be found here. Insiders sold 251,799 shares of company stock worth $41,711,912 in the last ninety days. Insiders own 0.06% of the company’s stock.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.