Apple Inc. (NASDAQ:AAPL) Stock Holdings Decreased by Vancity Investment Management Ltd

Posted by Defense World Staff on Sep 9th, 2023

Vancity Investment Management Ltd reduced its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 263,912 shares of the iPhone maker’s stock after selling 2,272 shares during the quarter. Apple accounts for 6.1% of Vancity Investment Management Ltd’s investment portfolio, making the stock its 2nd biggest holding. Vancity Investment Management Ltd’s holdings in Apple were worth $43,519,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Atlantic Private Wealth LLC purchased a new stake in shares of Apple in the first quarter valued at approximately $30,000. St. James Investment Advisors LLC boosted its position in Apple by 98.3% during the fourth 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. Summit Wealth Group LLC boosted its position in Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 6,949,659 shares in the last quarter. HBC Financial Services PLLC raised its holdings in shares of 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, PayPay Securities Corp acquired a new position in shares of Apple in the fourth quarter worth $60,000. 58.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $178.56, for a total value of $2,753,216.64. Following the completion of the transaction, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at approximately $24,363,619.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AAPL shares. 58.com reissued a “maintains” rating on shares of Apple in a report on Monday, June 5th. TD Cowen boosted their price target on Apple from $195.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, August 1st. Canaccord Genuity Group boosted their price target on Apple from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Deutsche Bank Aktiengesellschaft boosted their price target on Apple from $180.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, July 24th. Finally, Rosenblatt Securities downgraded Apple from a “buy” rating to a “neutral” rating and set a $198.00 price target for the company. in a research report on Friday, August 4th. Ten equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $198.72.

Read Our Latest Report on AAPL

Apple Stock Up 0.3 %

Shares of Apple stock opened at $178.18 on Friday. 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 business’s 50 day simple moving average is $186.26 and its 200-day simple moving average is $174.27. The stock has a market capitalization of $2.79 trillion, a price-to-earnings ratio of 29.95, a PEG ratio of 2.67 and a beta of 1.27. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $198.23.

Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The business had revenue of $81.80 billion for the quarter, compared to analysts’ expectations of $81.79 billion. Apple had a return on equity of 164.92% and a net margin of 24.68%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.20 EPS. Equities research analysts forecast that Apple Inc. will post 6.05 earnings per share for the current year.

Apple Dividend Announcement

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

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.