Apple Inc. (NASDAQ:AAPL) Stock Position Decreased by Atlas Private Wealth Management

Posted by Defense World Staff on Sep 30th, 2023

Atlas Private Wealth Management lessened its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,278 shares of the iPhone maker’s stock after selling 1,557 shares during the quarter. Apple comprises 4.7% of Atlas Private Wealth Management’s holdings, making the stock its largest position. Atlas Private Wealth Management’s holdings in Apple were worth $8,976,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Atlantic Private Wealth LLC purchased a new position in Apple during the first quarter worth approximately $30,000. St. James Investment Advisors LLC lifted its position in Apple by 98.3% during the fourth quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock worth $31,000 after buying an additional 117 shares in the last quarter. Summit Wealth Group LLC lifted its position in Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after buying an additional 6,949,659 shares in the last quarter. HBC Financial Services PLLC lifted its position in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA purchased a new position in Apple during the fourth quarter worth approximately $93,000. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Deirdre O’brien sold 15,419 shares of the business’s stock in a transaction dated 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 approximately $24,363,619.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by company insiders.

Apple Stock Up 0.3 %

Shares of NASDAQ AAPL opened at $171.21 on Friday. The company has a market capitalization of $2.68 trillion, a price-to-earnings ratio of 28.77, a price-to-earnings-growth ratio of 2.48 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. The business has a 50-day moving average of $181.22 and a two-hundred day moving average of $176.93. 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 announced its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The company 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% on a year-over-year basis. During the same period in the previous year, the business earned $1.20 EPS. On average, analysts forecast that Apple Inc. will post 6.05 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AAPL shares. Tigress Financial lifted their price objective on Apple from $210.00 to $225.00 in a research report on Friday, June 23rd. Morgan Stanley reissued an “overweight” rating and set a $215.00 target price on shares of Apple in a research note on Monday, September 25th. Credit Suisse Group reissued an “outperform” rating and set a $220.00 target price on shares of Apple in a research note on Friday, September 15th. Sanford C. Bernstein raised their target price on Apple from $175.00 to $195.00 and gave the stock a “market perform” rating in a research note on Thursday, July 27th. Finally, Oppenheimer raised their target price on Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Ten analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $199.41.

Read Our Latest Stock Report on Apple

About Apple

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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.