Verde Capital Management Has $628,000 Stock Position in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Oct 1st, 2023

Verde Capital Management lowered its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 3.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,239 shares of the iPhone maker’s stock after selling 100 shares during the quarter. Verde Capital Management’s holdings in Apple were worth $628,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Atlantic Private Wealth LLC bought a new position in Apple in the first quarter valued at about $30,000. St. James Investment Advisors LLC grew its position in Apple by 98.3% in the fourth quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock valued at $31,000 after acquiring an additional 117 shares during the last quarter. Cheyne Capital Management UK LLP grew its position in Apple by 200.0% in the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $212,000 after acquiring an additional 550 shares during the last quarter. HBC Financial Services PLLC grew its position in Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA bought a new position in Apple in the fourth quarter valued at about $93,000. Institutional investors and hedge funds own 58.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AAPL. Raymond James lifted their target price on Apple from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Evercore ISI restated an “outperform” rating and set a $210.00 price target on shares of Apple in a report on Thursday. Bank of America restated a “neutral” rating and set a $208.00 price target on shares of Apple in a report on Friday, September 22nd. Needham & Company LLC restated a “buy” rating and set a $195.00 price target on shares of Apple in a report on Wednesday, September 13th. Finally, Canaccord Genuity Group boosted their price target on Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Nine research 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.54.

Check Out Our Latest Analysis on AAPL

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 15,419 shares of the 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 transaction, the senior vice president now directly owns 136,445 shares in the company, valued at approximately $24,363,619.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.06% of the stock is owned by company insiders.

Apple Price Performance

Shares of AAPL opened at $171.21 on Friday. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $198.23. The business’s fifty day moving average is $181.22 and its 200 day moving average is $177.10. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63. The stock has a market cap of $2.68 trillion, a P/E ratio of 28.77, a P/E/G ratio of 2.49 and a beta of 1.27.

Apple (NASDAQ:AAPL – Get Free Report) last issued its 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. Apple had a return on equity of 164.92% and a net margin of 24.68%. The company had revenue of $81.80 billion for the quarter, compared to analysts’ expectations of $81.79 billion. During the same period last year, the business earned $1.20 EPS. Apple’s quarterly revenue was down 1.4% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 6.05 earnings per share for the current fiscal 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 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 of this dividend was Friday, August 11th. Apple’s dividend payout ratio is currently 16.13%.

Apple Company 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.