Professional Financial Advisors LLC Grows Position in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Sep 26th, 2023

Professional Financial Advisors LLC grew its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,213 shares of the iPhone maker’s stock after buying an additional 62 shares during the period. Apple accounts for about 1.3% of Professional Financial Advisors LLC’s holdings, making the stock its 13th biggest holding. Professional Financial Advisors LLC’s holdings in Apple were worth $2,563,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction that occurred 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AAPL. StockNews.com started coverage on shares of Apple in a report on Thursday, August 17th. They set a “hold” rating for the company. Robert W. Baird raised their target price on Apple from $180.00 to $204.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. Piper Sandler upped their price target on Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, July 31st. UBS Group downgraded Apple from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $180.00 to $190.00 in a research report on Monday, June 12th. Finally, Oppenheimer upped their target price on shares of Apple from $195.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Ten equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $199.41.

Check Out Our Latest Stock Analysis on Apple

Apple Stock Up 0.7 %

AAPL stock opened at $176.08 on Tuesday. The stock has a market cap of $2.75 trillion, a P/E ratio of 29.59, a PEG ratio of 2.55 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. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $198.23. The company’s 50 day moving average is $183.01 and its two-hundred day moving average is $176.71.

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

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Friday, August 11th. Apple’s dividend payout ratio (DPR) is 16.13%.

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.