MJP Associates Inc. ADV Purchases 37,043 Shares of Apple Inc. (NASDAQ:AAPL)

Posted by on Sep 24th, 2023

MJP Associates Inc. ADV increased its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 61.6% in the second quarter, Holdings Channel reports. The firm owned 97,159 shares of the iPhone maker’s stock after acquiring an additional 37,043 shares during the period. Apple accounts for 6.2% of MJP Associates Inc. ADV’s investment portfolio, making the stock its 5th biggest position. MJP Associates Inc. ADV’s holdings in Apple were worth $18,846,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. WJ Wealth Management LLC boosted its position in Apple by 109.7% during the 2nd quarter. WJ Wealth Management LLC now owns 13,758 shares of the iPhone maker’s stock worth $2,669,000 after purchasing an additional 7,198 shares during the period. Etfidea LLC raised its holdings in shares of Apple by 0.9% during the 2nd quarter. Etfidea LLC now owns 16,324 shares of the iPhone maker’s stock valued at $3,166,000 after buying an additional 152 shares during the period. Ullmann Wealth Partners Group LLC raised its holdings in shares of Apple by 2.3% during the 2nd quarter. Ullmann Wealth Partners Group LLC now owns 17,963 shares of the iPhone maker’s stock valued at $3,484,000 after buying an additional 412 shares during the period. Capital Advisors Wealth Management LLC raised its holdings in shares of Apple by 1.0% during the 2nd quarter. Capital Advisors Wealth Management LLC now owns 45,932 shares of the iPhone maker’s stock valued at $8,909,000 after buying an additional 474 shares during the period. Finally, Scott Capital Advisors LLC grew its holdings in Apple by 2.6% during the 2nd quarter. Scott Capital Advisors LLC now owns 4,100 shares of the iPhone maker’s stock valued at $795,000 after purchasing an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction 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 owns 136,445 shares in the company, valued at approximately $24,363,619.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of a number of recent analyst reports. 51job reaffirmed a “maintains” rating on shares of Apple in a report on Friday, June 2nd. DA Davidson downgraded Apple from a “buy” rating to a “neutral” rating and reduced their price target for the company from $193.00 to $185.00 in a report on Monday, June 5th. The Goldman Sachs Group cut their price target on shares of Apple from $222.00 to $216.00 and set a “buy” rating on the stock in a report on Wednesday, September 13th. Raymond James upped their price target on shares of Apple from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Finally, Morgan Stanley lowered their price objective on Apple from $220.00 to $215.00 and set an “overweight” rating for the company in a report on Friday, August 4th. Ten investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.41.

Read Our Latest Research Report on AAPL

Apple Stock Up 0.5 %

AAPL stock opened at $174.79 on Friday. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23. The company has a market capitalization of $2.73 trillion, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 2.53 and a beta of 1.27. The firm’s 50-day moving average is $183.37 and its two-hundred day moving average is $176.19. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.63.

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

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Friday, August 11th. Apple’s dividend payout ratio is presently 16.13%.

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.

Read More

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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