Apple Inc. (NASDAQ:AAPL) Position Decreased by Bay Rivers Group

Posted by Defense World Staff on Sep 29th, 2023

Bay Rivers Group lowered its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 2.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,090 shares of the iPhone maker’s stock after selling 1,593 shares during the period. Apple accounts for 9.6% of Bay Rivers Group’s investment portfolio, making the stock its biggest position. Bay Rivers Group’s holdings in Apple were worth $12,819,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. IFM Investors Pty Ltd grew its stake in Apple by 20.0% during 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 in the last quarter. Ironwood Wealth Management LLC. increased its stake in shares of Apple by 0.4% in the first quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock worth $42,016,000 after buying an additional 1,040 shares during the last quarter. Markel Corp boosted its stake in Apple by 0.7% during 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 during the last quarter. Camden Capital LLC grew its holdings 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 in the last quarter. Finally, Harbor Island Capital LLC raised its stake in shares of Apple by 0.3% in the 1st quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock valued at $23,629,000 after purchasing an additional 400 shares in the last quarter. 58.51% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $170.69 on Friday. The company’s fifty day moving average is $181.63 and its two-hundred day moving average is $176.78. The company has a market cap of $2.67 trillion, a P/E ratio of 28.69, a price-to-earnings-growth ratio of 2.51 and a beta of 1.27. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $198.23. 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 (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. The business had revenue of $81.80 billion for 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 company posted $1.20 earnings per share. Equities analysts expect that Apple Inc. will post 6.05 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were issued a $0.24 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.56%. Apple’s dividend payout ratio is 16.13%.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the company’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 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 document filed with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. DA Davidson lowered Apple from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $193.00 to $185.00 in a report on Monday, June 5th. Canaccord Genuity Group upped their price target on Apple from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 24th. 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 report on Monday, July 24th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $200.00 price target on shares of Apple in a report on Thursday, September 14th. Ten investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $199.41.

Read Our Latest Analysis on Apple

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.