Courier Capital LLC Cuts Position in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Sep 14th, 2023

Courier Capital LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 306,955 shares of the iPhone maker’s stock after selling 2,444 shares during the period. Apple comprises about 5.6% of Courier Capital LLC’s portfolio, making the stock its 3rd largest holding. Courier Capital LLC’s holdings in Apple were worth $50,617,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Titleist Asset Management LLC acquired a new position in shares of Apple during the 1st quarter worth approximately $11,110,000. Border to Coast Pensions Partnership Ltd increased its holdings in Apple by 17.4% during the first quarter. Border to Coast Pensions Partnership Ltd now owns 1,410,615 shares of the iPhone maker’s stock worth $232,610,000 after buying an additional 208,731 shares during the last quarter. Harvest Portfolios Group Inc. raised its position in Apple by 18.2% during the first quarter. Harvest Portfolios Group Inc. now owns 217,100 shares of the iPhone maker’s stock worth $35,800,000 after acquiring an additional 33,418 shares in the last quarter. Crake Asset Management LLP lifted its stake in Apple by 229.8% in the first quarter. Crake Asset Management LLP now owns 336,410 shares of the iPhone maker’s stock valued at $55,474,000 after acquiring an additional 234,410 shares during the last quarter. Finally, Centaurus Financial Inc. grew its position in shares of Apple by 5.6% in the 1st quarter. Centaurus Financial Inc. now owns 230,976 shares of the iPhone maker’s stock valued at $38,088,000 after acquiring an additional 12,284 shares during the period. 58.51% of the stock is currently owned by institutional investors and hedge funds.

Apple Trading Down 1.2 %

AAPL opened at $174.21 on Thursday. The company has a market cap of $2.72 trillion, a P/E ratio of 29.28, a PEG ratio of 2.59 and a beta of 1.27. 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 company’s 50 day moving average is $185.67 and its 200-day moving average is $175.05. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $198.23.

Apple (NASDAQ:AAPL – Get Free Report) last issued its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share for the quarter, beating 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 company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the business posted $1.20 earnings per share. Equities research analysts predict that Apple Inc. will post 6.05 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a yield of 0.55%. Apple’s payout ratio is presently 16.13%.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O’brien sold 15,419 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was 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 directly 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 is accessible through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Evercore ISI raised their target price on shares of Apple from $190.00 to $210.00 and gave the company an “outperform” rating in a research note on Monday, June 5th. Bank of America reduced their target price on Apple from $210.00 to $208.00 and set a “neutral” rating for the company in a research note on Wednesday. Rosenblatt Securities restated a “neutral” rating and issued a $198.00 price target on shares of Apple in a research note on Tuesday. Robert W. Baird lifted their price objective on shares of Apple from $180.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Finally, Canaccord Genuity Group increased their price objective on shares of Apple from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Ten investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $199.41.

View Our Latest Stock Analysis on AAPL

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.