Veery Capital LLC Reduces Stock Position in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Oct 1st, 2023

Veery Capital LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,377 shares of the iPhone maker’s stock after selling 113 shares during the quarter. Apple makes up approximately 0.9% of Veery Capital LLC’s holdings, making the stock its 20th largest holding. Veery Capital LLC’s holdings in Apple were worth $2,013,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Zimmermann Investment Management & Planning LLC raised its holdings in shares of Apple by 0.3% during the 2nd quarter. Zimmermann Investment Management & Planning LLC now owns 55,433 shares of the iPhone maker’s stock valued at $10,752,000 after buying an additional 172 shares during the period. Whitaker Myers Wealth Managers LTD. raised its holdings in shares of Apple by 7.0% during the 2nd quarter. Whitaker Myers Wealth Managers LTD. now owns 9,441 shares of the iPhone maker’s stock valued at $1,831,000 after buying an additional 621 shares during the period. Navis Wealth Advisors LLC purchased a new stake in shares of Apple during the 2nd quarter valued at about $397,000. Sawyer & Company Inc purchased a new stake in shares of Apple during the 2nd quarter valued at about $11,747,000. Finally, Northstar Advisory Group LLC increased its holdings in Apple by 186.1% during the 2nd quarter. Northstar Advisory Group LLC now owns 49,097 shares of the iPhone maker’s stock worth $9,523,000 after purchasing an additional 31,938 shares during the last quarter. 58.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AAPL shares. Raymond James boosted their price target on Apple from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Credit Suisse Group restated an “outperform” rating and issued a $220.00 price objective on shares of Apple in a report on Friday, September 15th. TD Cowen upped their price target on Apple from $195.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, August 1st. Piper Sandler boosted their target price on Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, July 31st. Finally, Sanford C. Bernstein upped their price target on Apple from $175.00 to $195.00 and gave the stock a “market perform” rating in a research note on Thursday, July 27th. Nine investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $200.54.

Check Out Our Latest Stock Analysis on AAPL

Insider Activity

In other news, SVP Deirdre O’brien sold 15,419 shares of the business’s stock in a transaction on Monday, August 7th. The shares were 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 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. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

Apple stock opened at $171.21 on Friday. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23. The company’s 50 day moving average price is $181.22 and its two-hundred day moving average price 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 posted its quarterly 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 net margin of 24.68% and a return on equity of 164.92%. The company had revenue of $81.80 billion for the quarter, compared to analysts’ expectations of $81.79 billion. During the same quarter in the previous year, the firm posted $1.20 EPS. Apple’s revenue was down 1.4% on a year-over-year basis. On average, equities analysts predict that Apple Inc. will post 6.05 earnings per share for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were given 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 currently 16.13%.

Apple 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.