Navis Wealth Advisors LLC Acquires New Shares in Apple Inc. (NASDAQ:AAPL)

Posted by on Oct 1st, 2023

Navis Wealth Advisors LLC acquired a new stake in Apple Inc. (NASDAQ:AAPL – Free Report) in the second quarter, according to its most recent filing with the SEC. The fund acquired 2,045 shares of the iPhone maker’s stock, valued at approximately $397,000.

A number of other hedge funds have also bought and sold shares of the business. IFM Investors Pty Ltd boosted its holdings in Apple by 20.0% in 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 during the period. Ironwood Wealth Management LLC. boosted its holdings in Apple by 0.4% in the 1st quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock valued at $42,016,000 after purchasing an additional 1,040 shares during the period. Markel Corp boosted its holdings in Apple by 0.7% in the 1st quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock valued at $210,752,000 after purchasing an additional 8,450 shares during the period. Camden Capital LLC boosted its holdings in Apple by 9.2% in the 1st quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock valued at $27,305,000 after purchasing an additional 13,200 shares during the period. Finally, Harbor Island Capital LLC boosted its holdings in 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 during the period. 58.51% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Up 0.3 %

Shares of NASDAQ:AAPL opened at $171.21 on Friday. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $198.23. The company has a market cap of $2.68 trillion, a PE ratio of 28.77, a P/E/G ratio of 2.49 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 stock’s 50-day moving average is $181.22 and its 200 day moving average is $177.10.

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, beating 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 the consensus estimate of $81.79 billion. During the same quarter in the previous year, the business earned $1.20 EPS. Apple’s revenue was down 1.4% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 6.05 EPS for the current year.

Apple Dividend Announcement

The company also recently announced 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. 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 (DPR) is 16.13%.

Analyst Upgrades and Downgrades

AAPL has been the subject of several analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $215.00 price target on shares of Apple in a report on Monday, September 25th. Piper Jaffray Companies raised their price target on Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, July 31st. Robert W. Baird lifted their price target on Apple from $180.00 to $204.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. Wedbush lifted their price target on Apple from $230.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 13th. Finally, Tigress Financial lifted their price target on Apple from $210.00 to $225.00 in a research note on Friday, June 23rd. Nine investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $200.54.

Get Our Latest Stock Analysis on Apple

Insiders Place Their Bets

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 stock was 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 approximately $24,363,619.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.06% of the company’s stock.

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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