Retirement Solution Inc. Has $1.93 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Jul 3rd, 2023

Retirement Solution Inc. reduced its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,671 shares of the iPhone maker’s stock after selling 259 shares during the quarter. Apple accounts for approximately 0.7% of Retirement Solution Inc.’s holdings, making the stock its 18th biggest position. Retirement Solution Inc.’s holdings in Apple were worth $1,925,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AAPL. Vanguard Group Inc. increased its holdings in Apple by 0.7% in 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 buying an additional 8,734,393 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in shares of Apple by 116,483.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock worth $74,002,245,000 after purchasing an additional 569,066,184 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Apple by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 282,749,817 shares of the iPhone maker’s stock worth $36,671,884,000 after purchasing an additional 2,991,299 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Apple by 0.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 226,281,368 shares of the iPhone maker’s stock worth $29,400,739,000 after purchasing an additional 1,417,827 shares during the last quarter. Finally, Morgan Stanley grew its holdings in Apple by 14.2% during the 4th quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock worth $27,110,586,000 after acquiring an additional 25,926,552 shares during the last quarter. 57.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AAPL has been the topic of a number of research analyst reports. Evercore ISI increased their price objective on shares of Apple from $190.00 to $210.00 and gave the stock an “outperform” rating in a report on Monday, June 5th. Fundamental Research set a $183.86 price objective on shares of Apple and gave the stock a “buy” rating in a report on Wednesday, May 17th. 51job reissued a “maintains” rating on shares of Apple in a report on Friday, June 2nd. Bank of America upped their target price on shares of Apple from $176.00 to $190.00 in a research report on Monday, June 5th. Finally, Tigress Financial upped their target price on shares of Apple from $210.00 to $225.00 in a research report on Friday, June 23rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.52.

Apple Trading Up 2.3 %

Shares of Apple stock opened at $193.97 on Monday. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $194.48. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $3.05 trillion, a PE ratio of 32.93, a price-to-earnings-growth ratio of 2.53 and a beta of 1.29. The firm’s 50 day moving average is $177.18 and its 200 day moving average is $158.29.

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

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 15th were paid a $0.24 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Friday, May 12th. Apple’s dividend payout ratio is currently 16.30%.

Apple announced that its Board of Directors has approved a stock buyback 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 stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, COO Jeffrey E. Williams sold 77,817 shares of the business’s 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 transaction, the chief operating officer now owns 489,816 shares in the company, valued at approximately $81,363,335.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Jeffrey E. Williams sold 77,817 shares of the business’s 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 transaction, the chief operating officer now owns 489,816 shares in the company, valued at approximately $81,363,335.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,092 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $173.26, for a total transaction of $708,979.92. Following 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. In the last three months, insiders have sold 152,105 shares of company stock valued at $25,234,985. 0.06% of the stock is currently owned by insiders.

About Apple

(Free Report)

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.