BSW Wealth Partners Cuts Stock Position in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Sep 12th, 2023

BSW Wealth Partners trimmed its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 5.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,385 shares of the iPhone maker’s stock after selling 5,220 shares during the period. Apple comprises 3.3% of BSW Wealth Partners’ holdings, making the stock its 7th biggest holding. BSW Wealth Partners’ holdings in Apple were worth $16,059,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Starfox Financial Services LLC grew its stake in Apple by 21.5% in the 4th quarter. Starfox Financial Services LLC now owns 1,900 shares of the iPhone maker’s stock worth $247,000 after acquiring an additional 336 shares in the last quarter. Arista Wealth Management LLC grew its stake in Apple by 1.0% in the 1st quarter. Arista Wealth Management LLC now owns 26,680 shares of the iPhone maker’s stock worth $4,399,000 after acquiring an additional 261 shares in the last quarter. Brogan Financial Inc. bought a new position in Apple in the 4th quarter worth about $1,874,000. Peddock Capital Advisors LLC grew its stake in Apple by 0.8% in the 1st quarter. Peddock Capital Advisors LLC now owns 115,970 shares of the iPhone maker’s stock worth $19,123,000 after acquiring an additional 901 shares in the last quarter. Finally, Atwater Malick LLC grew its stake in Apple by 1.7% in the 4th quarter. Atwater Malick LLC now owns 102,669 shares of the iPhone maker’s stock worth $13,340,000 after acquiring an additional 1,696 shares in the last quarter. 58.51% of the stock is currently owned by institutional investors.

Apple Stock Up 0.7 %

NASDAQ:AAPL opened at $179.36 on Tuesday. The firm has a market capitalization of $2.80 trillion, a P/E ratio of 30.14, a PEG ratio of 2.59 and a beta of 1.27. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $198.23. The company’s fifty day moving average price is $186.00 and its 200-day moving average price is $174.84. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.98 and a quick ratio of 0.92.

Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings data 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 firm had revenue of $81.80 billion for the quarter, compared to analyst estimates of $81.79 billion. Apple had a net margin of 24.68% and a return on equity of 164.92%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.20 earnings per share. As a group, equities research analysts anticipate that Apple Inc. will post 6.05 EPS for the current year.

Apple Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AAPL shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, July 24th. Citigroup reaffirmed a “buy” rating and issued a $240.00 price target on shares of Apple in a research report on Friday, August 4th. 58.com reaffirmed a “maintains” rating on shares of Apple in a research report on Monday, June 5th. Jefferies Financial Group lowered their price target on shares of Apple from $225.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, August 4th. Finally, Tigress Financial upped their price target on shares of Apple from $210.00 to $225.00 in a research report on Friday, June 23rd. Ten investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $198.72.

Read Our Latest Research Report on AAPL

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 15,419 shares of the firm’s stock in a transaction on 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 sale, the senior vice president now owns 136,445 shares in the company, valued at $24,363,619.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.06% of the stock is owned by company insiders.

Apple 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.