Steph & Co. Reduces Stock Position in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Oct 4th, 2023

Steph & Co. lessened its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,861 shares of the iPhone maker’s stock after selling 100 shares during the quarter. Apple makes up about 1.4% of Steph & Co.’s holdings, making the stock its 16th largest position. Steph & Co.’s holdings in Apple were worth $2,495,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Ilmarinen Mutual Pension Insurance Co increased its position in Apple by 8.3% during the first quarter. Ilmarinen Mutual Pension Insurance Co now owns 785,000 shares of the iPhone maker’s stock worth $129,447,000 after buying an additional 60,000 shares during the period. Arista Wealth Management LLC boosted its position in shares of 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 purchasing an additional 261 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Apple by 2.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 3,919,534 shares of the iPhone maker’s stock valued at $646,332,000 after acquiring an additional 89,615 shares during the period. My Personal CFO LLC lifted its position in shares of Apple by 4.1% during the 2nd quarter. My Personal CFO LLC now owns 26,276 shares of the iPhone maker’s stock valued at $5,097,000 after acquiring an additional 1,047 shares during the period. Finally, New England Research & Management Inc. increased its position in shares of Apple by 3.3% in 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 buying an additional 949 shares in the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 240,569 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total value of $41,498,152.50. Following the completion of the sale, the chief executive officer now owns 3,280,053 shares of the company’s stock, valued at approximately $565,809,142.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Timothy D. Cook sold 240,569 shares of Apple stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the completion of the transaction, the chief executive officer now owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $2,753,216.64. Following the completion of the transaction, the senior vice president now owns 136,445 shares of the company’s stock, valued at approximately $24,363,619.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 321,524 shares of company stock valued at $55,530,770. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $172.40 on Wednesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.98 and a quick ratio of 0.92. The firm has a 50-day moving average of $180.41 and a two-hundred day moving average of $177.52. The stock has a market cap of $2.70 trillion, a P/E ratio of 28.97, a PEG ratio of 2.50 and a beta of 1.28. 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 announced its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, beating 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 company had revenue of $81.80 billion for the quarter, compared to analyst estimates of $81.79 billion. During the same period in the prior year, the company posted $1.20 EPS. Apple’s quarterly revenue was down 1.4% on a year-over-year basis. On average, research analysts expect that Apple Inc. will post 6.05 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business 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 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Friday, August 11th. Apple’s payout ratio is currently 16.13%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several research reports. Rosenblatt Securities reiterated a “neutral” rating and issued a $198.00 price target on shares of Apple in a research report on Tuesday, September 12th. KeyCorp restated an “overweight” rating and issued a $200.00 price objective on shares of Apple in a research report on Thursday, September 14th. Citigroup restated a “buy” rating and issued a $240.00 price objective on shares of Apple in a research report on Friday, August 4th. Robert W. Baird upped their price objective on shares of Apple from $180.00 to $204.00 and gave the company an “outperform” rating in a research note on Tuesday, August 1st. Finally, Wedbush lifted their target price on shares of Apple from $230.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 13th. Nine research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $200.54.

Check Out Our Latest Report on Apple

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.