Apple Inc. (NASDAQ:AAPL) Shares Sold by FRG Family Wealth Advisors LLC

Posted by Defense World Staff on Sep 30th, 2023

FRG Family Wealth Advisors LLC decreased its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 104,038 shares of the iPhone maker’s stock after selling 647 shares during the quarter. Apple accounts for about 4.4% of FRG Family Wealth Advisors LLC’s investment portfolio, making the stock its 5th largest holding. FRG Family Wealth Advisors LLC’s holdings in Apple were worth $20,180,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of AAPL. Moneta Group Investment Advisors LLC boosted its position in shares of Apple by 116,483.5% in the 4th 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 purchasing an additional 569,066,184 shares during the period. Norges Bank acquired a new position in shares of Apple in the 4th quarter valued at $21,746,940,000. Morgan Stanley boosted its position in shares of Apple by 14.2% in the 4th quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock valued at $27,110,586,000 after purchasing an additional 25,926,552 shares during the period. Berkshire Hathaway Inc boosted its position in shares of Apple by 2.3% in the 1st quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock valued at $150,975,907,000 after purchasing an additional 20,424,207 shares during the period. Finally, Providence Capital Advisors LLC boosted its position in Apple by 16,638.6% during the 1st quarter. Providence Capital Advisors LLC now owns 15,593,974 shares of the iPhone maker’s stock worth $94,566,000 after acquiring an additional 15,500,812 shares during the period. Institutional investors and hedge funds own 58.51% of the company’s stock.

Insider Buying and Selling 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 stock was 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 in the company, valued at $24,363,619.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. UBS Group restated a “neutral” rating and set a $190.00 price objective on shares of Apple in a research report on Wednesday. Rosenblatt Securities restated a “neutral” rating and set a $198.00 price objective on shares of Apple in a research report on Tuesday, September 12th. Citigroup restated a “buy” rating and set a $240.00 price objective on shares of Apple in a research report on Friday, August 4th. TD Cowen raised their price objective on Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Finally, Wells Fargo & Company raised their price objective on Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. Ten investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $199.41.

Get Our Latest Analysis on AAPL

Apple Stock Performance

Shares of NASDAQ AAPL opened at $171.21 on Friday. The business has a fifty day simple moving average of $181.22 and a 200 day simple moving average of $176.93. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $2.68 trillion, a price-to-earnings ratio of 28.77, a PEG ratio of 2.48 and a beta of 1.27. Apple Inc. has a one year low of $124.17 and a one 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%. Apple’s revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 earnings per share. Sell-side analysts expect 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. Investors of record on Monday, August 14th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.56%. Apple’s payout ratio is 16.13%.

About Apple

(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.