Apple Inc. (NASDAQ:AAPL) Shares Purchased by Adamsbrown Wealth Consultants LLC

Posted by Defense World Staff on Sep 26th, 2023

Adamsbrown Wealth Consultants LLC raised its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 2.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,666 shares of the iPhone maker’s stock after buying an additional 478 shares during the period. Apple makes up about 2.3% of Adamsbrown Wealth Consultants LLC’s investment portfolio, making the stock its 13th largest holding. Adamsbrown Wealth Consultants LLC’s holdings in Apple were worth $4,397,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Atlantic Private Wealth LLC acquired a new stake in shares of Apple during the first quarter valued at approximately $30,000. St. James Investment Advisors LLC boosted its stake in Apple by 98.3% in the 4th 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 during the period. Summit Wealth Group LLC grew its position in Apple by 16,252.3% during the 1st 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 stake in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the period. Finally, LFA Lugano Financial Advisors SA purchased a new stake in shares of Apple in the fourth quarter valued at $93,000. Institutional investors and hedge funds own 58.51% of the company’s stock.

Insider Activity

In related news, SVP Deirdre O’brien sold 15,419 shares of Apple 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 of the company’s stock, 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.

Analyst Ratings Changes

AAPL has been the topic of a number of research analyst reports. Raymond James lifted their price target on Apple from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, August 4th. 58.com reiterated a “maintains” rating on shares of Apple in a report on Monday, June 5th. Robert W. Baird increased their price target 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. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Apple in a research report on Thursday, September 21st. Finally, Wells Fargo & Company increased their target price on shares of Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. Ten equities research 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 company currently has an average rating of “Moderate Buy” and an average target price of $199.41.

Read Our Latest Stock Analysis on Apple

Apple Price Performance

Shares of NASDAQ:AAPL opened at $176.08 on Tuesday. The company has a market cap of $2.75 trillion, a price-to-earnings ratio of 29.59, a PEG ratio of 2.55 and a beta of 1.27. The business has a 50 day moving average price of $183.01 and a 200 day moving average price of $176.71. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63. 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 posted its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share 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 during the quarter, compared to analysts’ expectations of $81.79 billion. During the same period in the prior year, the business earned $1.20 earnings per share. Apple’s revenue for the quarter was down 1.4% compared to the same quarter last year. Research analysts predict that Apple Inc. will post 6.05 earnings per share for the current year.

Apple Dividend Announcement

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

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.