Summitry LLC Sells 124 Shares of Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Sep 8th, 2023

Summitry LLC cut its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,491 shares of the iPhone maker’s stock after selling 124 shares during the quarter. Summitry LLC’s holdings in Apple were worth $5,028,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. St. James Investment Advisors LLC boosted its stake in Apple by 98.3% in the 4th quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock worth $31,000 after purchasing an additional 117 shares in the last quarter. Cheyne Capital Management UK LLP lifted its stake in shares of Apple by 200.0% during the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after buying an additional 550 shares during the period. HBC Financial Services PLLC grew its holdings 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 last quarter. PayPay Securities Corp acquired a new position in shares of Apple in the 4th quarter valued at $60,000. Finally, LFA Lugano Financial Advisors SA purchased a new position in Apple in the 4th quarter worth $93,000. 58.51% of the stock is currently owned by institutional investors.

Apple Stock Down 2.9 %

AAPL stock opened at $177.56 on Friday. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $198.23. The company has a fifty day simple moving average of $186.57 and a 200 day simple moving average of $174.09. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.63. The firm has a market cap of $2.78 trillion, a PE ratio of 29.84, a PEG ratio of 2.76 and a beta of 1.27.

Apple (NASDAQ:AAPL – Get Free Report) last posted its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. Apple had a net margin of 24.68% and a return on equity of 164.92%. The business had revenue of $81.80 billion for the quarter, compared to analyst estimates of $81.79 billion. During the same period last year, the business posted $1.20 EPS. Apple’s revenue was down 1.4% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 6.05 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Friday, August 11th. Apple’s payout ratio is currently 16.13%.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O’brien sold 15,419 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the completion of the transaction, the senior vice president now owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on AAPL shares. Citigroup reiterated a “buy” rating and set a $240.00 price target on shares of Apple in a research report on Friday, August 4th. 58.com reissued a “maintains” rating on shares of Apple in a research note on Monday, June 5th. JPMorgan Chase & Co. raised their target price on Apple from $190.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 1st. Rosenblatt Securities lowered Apple from a “buy” rating to a “neutral” rating and set a $198.00 target price on the stock. in a research report on Friday, August 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $195.00 price objective on shares of Apple in a report on Thursday. Ten research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $198.86.

View Our Latest Report on AAPL

Apple Company Profile

(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.