Apple Inc. (NASDAQ:AAPL) is CFM Wealth Partners LLC’s Largest Position

Posted by Defense World Staff on Oct 3rd, 2023

CFM Wealth Partners LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 0.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 302,283 shares of the iPhone maker’s stock after selling 2,546 shares during the period. Apple accounts for about 14.2% of CFM Wealth Partners LLC’s holdings, making the stock its biggest position. CFM Wealth Partners LLC’s holdings in Apple were worth $58,634,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AAPL. Atlantic Private Wealth LLC bought a new stake in Apple during the first quarter valued at approximately $30,000. St. James Investment Advisors LLC lifted its position in Apple by 98.3% during the fourth quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock valued at $31,000 after purchasing an additional 117 shares during the last quarter. Cheyne Capital Management UK LLP lifted its position in Apple by 200.0% during the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $212,000 after purchasing an additional 550 shares during the last quarter. HBC Financial Services PLLC lifted its position in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the last quarter. Finally, Clear Perspectives Financial Planning LLC lifted its position in Apple by 27.3% during the first quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock valued at $172,000 after purchasing an additional 211 shares during the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Insider Transactions at Apple

In other news, SVP Deirdre O’brien sold 15,419 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were 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 of the company’s stock, valued at approximately $24,363,619.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AAPL. Jefferies Financial Group dropped their target price on shares of Apple from $225.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, August 4th. UBS Group restated a “neutral” rating and issued a $190.00 price objective on shares of Apple in a report on Wednesday, September 27th. 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. Piper Sandler boosted their price objective on shares of Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, July 31st. Finally, Evercore ISI restated an “outperform” rating and issued a $210.00 price objective on shares of Apple in a report on Thursday, September 28th. Nine equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $200.54.

Read Our Latest Research Report on AAPL

Apple Stock Up 1.5 %

NASDAQ:AAPL opened at $173.75 on Tuesday. The firm’s 50-day moving average price is $180.84 and its 200-day moving average price is $177.39. The company has a market capitalization of $2.72 trillion, a PE ratio of 29.20, a P/E/G ratio of 2.50 and a beta of 1.28. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.98 and a quick ratio of 0.92. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $198.23.

Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The firm had revenue of $81.80 billion for the quarter, compared to the consensus estimate of $81.79 billion. Apple had a net margin of 24.68% and a return on equity of 164.92%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 EPS. On average, equities analysts predict that Apple Inc. will post 6.05 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Friday, August 11th. Apple’s dividend payout ratio is presently 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.