Venture Visionary Partners LLC Trims Stock Position in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Oct 3rd, 2023

Venture Visionary Partners LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 360,545 shares of the iPhone maker’s stock after selling 4,703 shares during the period. Apple comprises approximately 4.1% of Venture Visionary Partners LLC’s holdings, making the stock its largest holding. Venture Visionary Partners LLC’s holdings in Apple were worth $69,935,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Ilmarinen Mutual Pension Insurance Co raised its position in shares of Apple by 8.3% during the 1st quarter. Ilmarinen Mutual Pension Insurance Co now owns 785,000 shares of the iPhone maker’s stock worth $129,447,000 after purchasing an additional 60,000 shares during the period. Arista Wealth Management LLC grew its stake in Apple by 1.0% during the 1st quarter. Arista Wealth Management LLC now owns 26,680 shares of the iPhone maker’s stock worth $4,399,000 after buying an additional 261 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Apple by 2.3% in the first quarter. Thrivent Financial for Lutherans now owns 3,919,534 shares of the iPhone maker’s stock worth $646,332,000 after buying an additional 89,615 shares during the period. My Personal CFO LLC lifted its stake in Apple by 4.1% in the second quarter. My Personal CFO LLC now owns 26,276 shares of the iPhone maker’s stock valued at $5,097,000 after buying an additional 1,047 shares during the last quarter. Finally, New England Research & Management Inc. boosted its holdings in shares of Apple by 3.3% during the second quarter. New England Research & Management Inc. now owns 29,606 shares of the iPhone maker’s stock valued at $5,743,000 after acquiring an additional 949 shares during the period. 58.51% of the stock is currently owned by institutional investors.

Apple Trading Up 1.5 %

NASDAQ:AAPL opened at $173.75 on Tuesday. 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 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 stock’s 50 day moving average price is $180.84 and its 200 day moving average price is $177.39. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23.

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. The business 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%. Apple’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.20 EPS. On average, research analysts forecast that Apple Inc. will post 6.05 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, August 11th. This represents a $0.96 annualized dividend and a dividend yield of 0.55%. Apple’s dividend payout ratio (DPR) is presently 16.13%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Credit Suisse Group reissued an “outperform” rating and set a $220.00 target price on shares of Apple in a research note on Friday, September 15th. Canaccord Genuity Group lifted their target price on Apple from $185.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, August 4th. DA Davidson cut Apple from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $193.00 to $185.00 in a research note on Monday, June 5th. Evercore ISI restated an “outperform” rating and set a $210.00 price objective on shares of Apple in a research note on Thursday, September 28th. Finally, Wells Fargo & Company increased their target price on shares of Apple from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 24th. Nine equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.54.

Check Out Our Latest Stock Analysis on Apple

Insider Activity

In related news, SVP Deirdre O’brien sold 15,419 shares of the business’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 value of $2,753,216.64. Following the completion of 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 filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is currently owned by insiders.

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.