Meredith Wealth Planning Sells 2,513 Shares of Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Oct 3rd, 2023

Meredith Wealth Planning decreased its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 27.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,633 shares of the iPhone maker’s stock after selling 2,513 shares during the quarter. Apple comprises about 1.0% of Meredith Wealth Planning’s portfolio, making the stock its 12th largest holding. Meredith Wealth Planning’s holdings in Apple were worth $1,287,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. MKT Advisors LLC boosted its position in shares of Apple by 0.5% during the second quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after acquiring an additional 60 shares during the last quarter. Professional Financial Advisors LLC raised its stake in Apple by 0.5% during the second quarter. Professional Financial Advisors LLC now owns 13,213 shares of the iPhone maker’s stock valued at $2,563,000 after purchasing an additional 62 shares in the last quarter. Aspire Capital Advisors LLC raised its stake in Apple by 0.5% during the first quarter. Aspire Capital Advisors LLC now owns 14,076 shares of the iPhone maker’s stock valued at $2,321,000 after purchasing an additional 64 shares in the last quarter. Orgel Wealth Management LLC raised its stake in Apple by 0.7% during the second quarter. Orgel Wealth Management LLC now owns 8,926 shares of the iPhone maker’s stock valued at $1,731,000 after purchasing an additional 66 shares in the last quarter. Finally, Freedom Wealth Alliance LLC raised its stake in Apple by 0.4% during the first quarter. Freedom Wealth Alliance LLC now owns 16,091 shares of the iPhone maker’s stock valued at $2,653,000 after purchasing an additional 67 shares in the last quarter. Institutional investors own 58.51% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Canaccord Genuity Group upped their price target on shares of Apple from $185.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Credit Suisse Group reaffirmed an “outperform” rating and set a $220.00 price target on shares of Apple in a research note on Friday, September 15th. Morgan Stanley reaffirmed an “overweight” rating and set a $215.00 price target on shares of Apple in a research note on Monday, September 25th. Citigroup reissued a “buy” rating and issued a $240.00 target price on shares of Apple in a research note on Friday, August 4th. Finally, Wedbush increased their target price on shares of Apple from $230.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 13th. Nine analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $200.54.

Read Our Latest Stock Report on AAPL

Apple Stock Up 1.5 %

NASDAQ:AAPL opened at $173.75 on Tuesday. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $198.23. The stock has a market capitalization of $2.72 trillion, a P/E 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 quick ratio of 0.92 and a current ratio of 0.98. The company’s 50-day simple moving average is $180.84 and its 200-day simple moving average is $177.39.

Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share for the quarter, beating 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 business 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. The company’s revenue was down 1.4% compared to the same quarter last year. On average, equities analysts anticipate that Apple Inc. will post 6.05 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders 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 0.55%. The ex-dividend date of this dividend was Friday, August 11th. Apple’s dividend payout ratio is currently 16.13%.

Insider Activity

In other news, SVP Deirdre O’brien sold 15,419 shares of the firm’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 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 link. Company insiders own 0.06% of the company’s stock.

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.