Cardinal Capital Management Has $14.68 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Sep 26th, 2023

Cardinal Capital Management increased its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,661 shares of the iPhone maker’s stock after purchasing an additional 642 shares during the period. Apple makes up 3.0% of Cardinal Capital Management’s portfolio, making the stock its 4th biggest position. Cardinal Capital Management’s holdings in Apple were worth $14,676,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AAPL. IFM Investors Pty Ltd raised its stake in shares of Apple by 20.0% in the 1st quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock valued at $456,728,000 after purchasing an additional 435,891 shares during the period. Ironwood Wealth Management LLC. raised its position in Apple by 0.4% in the 1st quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock valued at $42,016,000 after buying an additional 1,040 shares during the last quarter. Markel Corp lifted its stake in Apple by 0.7% in the 1st quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock valued at $210,752,000 after acquiring an additional 8,450 shares in the last quarter. Camden Capital LLC boosted its position in Apple by 9.2% during the 1st quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock worth $27,305,000 after acquiring an additional 13,200 shares during the last quarter. Finally, Harbor Island Capital LLC grew its stake in shares of Apple by 0.3% during the 1st quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock worth $23,629,000 after acquiring an additional 400 shares in the last quarter. 58.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O’brien sold 15,419 shares of the company’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 completion of the transaction, the senior vice president now directly owns 136,445 shares in the company, valued at $24,363,619.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

Apple stock opened at $176.08 on Tuesday. The stock’s fifty day moving average price is $183.01 and its two-hundred day moving average price is $176.71. The firm has a market cap of $2.75 trillion, a PE ratio of 29.59, a price-to-earnings-growth ratio of 2.55 and a beta of 1.27. 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 Inc. has a one year low of $124.17 and a one year high of $198.23.

Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. The business had revenue of $81.80 billion during the quarter, compared to the consensus estimate of $81.79 billion. Apple had a return on equity of 164.92% and a net margin of 24.68%. Apple’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 earnings per share. As a group, research analysts expect that Apple Inc. will post 6.05 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were paid a $0.24 dividend. 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%.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of research reports. Jefferies Financial Group cut their price objective on shares of Apple from $225.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, August 4th. TD Cowen increased their price objective on shares of Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. The Goldman Sachs Group lowered their target price on Apple from $222.00 to $216.00 and set a “buy” rating on the stock in a research report on Wednesday, September 13th. Rosenblatt Securities reissued a “neutral” rating and set a $198.00 price target on shares of Apple in a research report on Tuesday, September 12th. Finally, Citigroup restated a “buy” rating and issued a $240.00 price target on shares of Apple in a research note on Friday, August 4th. Ten equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $199.41.

Check Out Our Latest Stock Analysis on Apple

Apple Company 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.