Apple Inc. (NASDAQ:AAPL) Position Decreased by Sunbelt Securities Inc.

Posted by Defense World Staff on Sep 13th, 2023

Sunbelt Securities Inc. lowered its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 1.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 98,105 shares of the iPhone maker’s stock after selling 952 shares during the period. Apple makes up 2.6% of Sunbelt Securities Inc.’s investment portfolio, making the stock its largest position. Sunbelt Securities Inc.’s holdings in Apple were worth $15,928,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Atlantic Private Wealth LLC bought a new position in shares of Apple during the 1st quarter valued at about $30,000. St. James Investment Advisors LLC grew its position in Apple by 98.3% during the 4th 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. Cheyne Capital Management UK LLP grew its position in Apple by 200.0% during the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after acquiring an additional 550 shares during the last quarter. HBC Financial Services PLLC grew its position in Apple by 21.7% during the 1st 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 bought a new position in Apple during the 4th quarter worth approximately $60,000. 58.51% of the stock is currently owned by institutional investors.

Apple Stock Performance

Shares of AAPL opened at $176.30 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63. The business has a 50-day simple moving average of $185.67 and a two-hundred day simple moving average of $175.05. The stock has a market cap of $2.76 trillion, a price-to-earnings ratio of 29.63, a PEG ratio of 2.59 and a beta of 1.27. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23.

Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The business had revenue of $81.80 billion during 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 quarter in the prior year, the business posted $1.20 earnings per share. On average, analysts expect that Apple Inc. will post 6.05 EPS for the current year.

Apple Dividend Announcement

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

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 136,445 shares in the company, valued at $24,363,619.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of several recent research reports. Loop Capital lowered Apple from a “buy” rating to a “hold” rating and set a $180.00 price target on the stock. in a research report on Monday, May 22nd. KeyCorp lifted their price objective on Apple from $180.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 11th. Canaccord Genuity Group raised their target price on Apple from $185.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Needham & Company LLC restated a “buy” rating and issued a $195.00 target price on shares of Apple in a research note on Thursday, September 7th. Finally, Barclays raised their target price on Apple from $149.00 to $167.00 and gave the company an “equal weight” rating in a research note on Friday, August 4th. Ten equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average target price of $198.72.

Read Our Latest Research Report on Apple

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.