Thompson Davis & CO. Inc. Raises Stake in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Sep 29th, 2023

Thompson Davis & CO. Inc. grew its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 3.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,279 shares of the iPhone maker’s stock after purchasing an additional 284 shares during the period. Apple makes up 1.8% of Thompson Davis & CO. Inc.’s portfolio, making the stock its 10th biggest holding. Thompson Davis & CO. Inc.’s holdings in Apple were worth $1,606,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. MKT Advisors LLC raised its stake in Apple by 0.5% in the 2nd quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock valued at $1,777,000 after acquiring an additional 60 shares during the period. Professional Financial Advisors LLC increased its holdings in shares of Apple by 0.5% in the second quarter. Professional Financial Advisors LLC now owns 13,213 shares of the iPhone maker’s stock valued at $2,563,000 after purchasing an additional 62 shares during the last quarter. Aspire Capital Advisors LLC raised its position in shares of Apple by 0.5% in the first quarter. Aspire Capital Advisors LLC now owns 14,076 shares of the iPhone maker’s stock valued at $2,321,000 after purchasing an additional 64 shares during the period. Orgel Wealth Management LLC lifted its stake in shares of Apple by 0.7% during the 2nd quarter. Orgel Wealth Management LLC now owns 8,926 shares of the iPhone maker’s stock worth $1,731,000 after buying an additional 66 shares during the last quarter. Finally, Freedom Wealth Alliance LLC boosted its holdings in shares of Apple by 0.4% during the 1st quarter. Freedom Wealth Alliance LLC now owns 16,091 shares of the iPhone maker’s stock worth $2,653,000 after buying an additional 67 shares during the period. Institutional investors and hedge funds own 58.51% of the company’s stock.

Apple Trading Up 0.2 %

AAPL opened at $170.69 on Friday. 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. The company has a fifty day moving average price of $181.63 and a two-hundred day moving average price of $176.78. 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 1-year low of $124.17 and a 1-year high of $198.23.

Apple (NASDAQ:AAPL – Get Free Report) last issued its 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 analyst estimates of $81.79 billion. Apple had a return on equity of 164.92% and a net margin of 24.68%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.20 EPS. Analysts predict that Apple Inc. will post 6.05 EPS for the current fiscal year.

Apple Dividend Announcement

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

Insider Activity at Apple

In other Apple 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 transaction, the senior vice president now owns 136,445 shares in the company, valued at $24,363,619.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AAPL shares. StockNews.com assumed coverage on shares of Apple in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Tigress Financial lifted their price target on Apple from $210.00 to $225.00 in a report on Friday, June 23rd. Citigroup restated a “buy” rating and issued a $240.00 price target on shares of Apple in a research note on Friday, August 4th. The Goldman Sachs Group lowered their price objective on Apple from $222.00 to $216.00 and set a “buy” rating on the stock in a research report on Wednesday, September 13th. Finally, 51job reissued a “maintains” rating on shares of Apple in a research report on Friday, June 2nd. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $199.41.

View Our Latest Stock Report on AAPL

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.