Webster Bank N. A. Has $47.05 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Sep 28th, 2023

Webster Bank N. A. reduced its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,575 shares of the iPhone maker’s stock after selling 8,797 shares during the quarter. Apple accounts for approximately 6.1% of Webster Bank N. A.’s investment portfolio, making the stock its 3rd largest holding. Webster Bank N. A.’s holdings in Apple were worth $47,052,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Apple by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after buying an additional 8,734,393 shares during the last quarter. Berkshire Hathaway Inc lifted its position in shares of Apple by 2.3% during the first quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock valued at $150,975,907,000 after buying an additional 20,424,207 shares during the last quarter. Moneta Group Investment Advisors LLC increased its holdings in shares of Apple by 116,483.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock valued at $74,002,245,000 after acquiring an additional 569,066,184 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Apple by 0.9% during the first quarter. Geode Capital Management LLC now owns 285,171,112 shares of the iPhone maker’s stock valued at $46,918,015,000 after acquiring an additional 2,421,295 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Apple by 3.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 234,017,381 shares of the iPhone maker’s stock valued at $38,589,468,000 after acquiring an additional 7,736,013 shares in the last quarter. 58.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AAPL. Citigroup restated a “buy” rating and set a $240.00 price objective on shares of Apple in a report on Friday, August 4th. Bank of America reiterated a “neutral” rating and issued a $208.00 price target on shares of Apple in a report on Friday, September 22nd. 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. Credit Suisse Group reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Apple in a research note on Friday, September 15th. Finally, Canaccord Genuity Group raised their price objective on shares of Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Ten research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $199.41.

Read Our Latest Research Report on AAPL

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 that occurred on Monday, August 7th. The shares were sold at an average price of $178.56, for a total value 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 approximately $24,363,619.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Apple Stock Down 0.9 %

Shares of AAPL opened at $170.43 on Thursday. 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 52-week low of $124.17 and a 52-week high of $198.23. The stock has a fifty day simple moving average of $182.08 and a two-hundred day simple moving average of $176.83. The company has a market capitalization of $2.66 trillion, a PE ratio of 28.64, a price-to-earnings-growth ratio of 2.57 and a beta of 1.27.

Apple (NASDAQ:AAPL – Get Free Report) last posted its earnings results 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. The company 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%. Apple’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.20 EPS. As a group, equities analysts forecast that Apple Inc. will post 6.05 EPS for the current year.

Apple Announces Dividend

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 annualized dividend and a yield of 0.56%. Apple’s payout ratio is 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.