Zimmermann Investment Management & Planning LLC Has $10.75 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Oct 1st, 2023

Zimmermann Investment Management & Planning LLC grew its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 0.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 55,433 shares of the iPhone maker’s stock after acquiring an additional 172 shares during the quarter. Apple comprises approximately 5.0% of Zimmermann Investment Management & Planning LLC’s holdings, making the stock its 4th largest holding. Zimmermann Investment Management & Planning LLC’s holdings in Apple were worth $10,752,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Atlantic Private Wealth LLC bought a new stake in Apple in the first quarter worth $30,000. St. James Investment Advisors LLC increased its stake in Apple by 98.3% in the fourth quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock worth $31,000 after purchasing an additional 117 shares during the period. Summit Wealth Group LLC increased its stake in Apple by 16,252.3% in the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 6,949,659 shares during the period. HBC Financial Services PLLC increased its stake in Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the period. Finally, LFA Lugano Financial Advisors SA purchased a new stake in Apple in the fourth quarter worth $93,000. 58.51% of the stock is currently owned by institutional investors.

Apple Trading Up 0.3 %

Apple stock opened at $171.21 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23. 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 2.49 and a beta of 1.27. The stock has a 50-day moving average price of $181.22 and a 200 day moving average price of $177.10.

Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 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 firm had revenue of $81.80 billion during the quarter, compared to the consensus estimate of $81.79 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. The company’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 business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.56%. The ex-dividend date was Friday, August 11th. Apple’s dividend payout ratio is currently 16.13%.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of recent analyst reports. Canaccord Genuity Group increased their target price on Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Sanford C. Bernstein raised their price target on Apple from $175.00 to $195.00 and gave the company a “market perform” rating in a research note on Thursday, July 27th. Raymond James raised their price target on Apple from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Evercore ISI restated an “outperform” rating and set a $210.00 price target on shares of Apple in a research note on Thursday. Finally, Barclays restated an “equal weight” rating and set a $167.00 price target on shares of Apple in a research note on Tuesday, September 19th. Nine research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average price target of $200.54.

View Our Latest Report on AAPL

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 15,419 shares of Apple 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 completion of the transaction, 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 SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by company insiders.

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.