Apple Inc. (NASDAQ:AAPL) Holdings Decreased by Financial Council Asset Management Inc

Posted by Defense World Staff on Oct 5th, 2023

Financial Council Asset Management Inc lowered its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,222 shares of the iPhone maker’s stock after selling 272 shares during the period. Apple makes up approximately 6.8% of Financial Council Asset Management Inc’s investment portfolio, making the stock its 4th largest holding. Financial Council Asset Management Inc’s holdings in Apple were worth $8,966,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AAPL. IFM Investors Pty Ltd lifted its holdings in Apple by 20.0% in the first quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock valued at $456,728,000 after acquiring an additional 435,891 shares during the period. Ironwood Wealth Management LLC. lifted its holdings in Apple by 0.4% in the first quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock valued at $42,016,000 after acquiring an additional 1,040 shares during the period. Markel Corp lifted its holdings in Apple by 0.7% in the first quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock valued at $210,752,000 after acquiring an additional 8,450 shares during the period. Camden Capital LLC lifted its holdings in Apple by 9.2% in the first quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock valued at $27,305,000 after acquiring an additional 13,200 shares during the period. Finally, Harbor Island Capital LLC lifted its holdings in Apple by 0.3% in the first quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock valued at $23,629,000 after acquiring an additional 400 shares during the period. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Piper Jaffray Companies boosted their price target on Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, July 31st. Morgan Stanley reaffirmed an “overweight” rating and set a $215.00 target price on shares of Apple in a research note on Monday, September 25th. Sanford C. Bernstein upped their target price on Apple from $175.00 to $195.00 and gave the stock a “market perform” rating in a research note on Thursday, July 27th. UBS Group reaffirmed a “neutral” rating and set a $190.00 target price on shares of Apple in a research note on Wednesday, September 27th. Finally, Oppenheimer upped their target price on Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Nine investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.54.

Read Our Latest Research Report on AAPL

Insider Buying and Selling at Apple

In other news, SVP Deirdre O’brien sold 15,419 shares of Apple stock in a transaction dated 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 in the company, valued at approximately $24,363,619.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Deirdre O’brien sold 15,419 shares of Apple stock in a transaction dated 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 in the company, valued at approximately $24,363,619.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 240,569 shares of Apple 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 transaction, the chief executive officer now owns 3,280,053 shares of the company’s stock, valued at approximately $565,809,142.50. The disclosure for this sale can be found here. Insiders sold a total of 321,524 shares of company stock valued at $55,530,770 in the last three months. 0.06% of the stock is owned by corporate insiders.

Apple Stock Up 0.7 %

Shares of NASDAQ:AAPL opened at $173.66 on Thursday. The company has a market capitalization of $2.72 trillion, a price-to-earnings ratio of 29.19, a PEG ratio of 2.33 and a beta of 1.28. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.63. The business has a 50-day moving average price of $179.99 and a 200 day moving average price of $177.49. Apple Inc. has a 12-month low of $124.17 and a 12-month 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, beating the consensus estimate of $1.19 by $0.07. The company had revenue of $81.80 billion during the quarter, compared to the consensus estimate of $81.79 billion. Apple had a return on equity of 164.92% and a net margin of 24.68%. Apple’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.20 EPS. Sell-side analysts expect that Apple Inc. will post 6.05 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Friday, August 11th. Apple’s dividend payout ratio is currently 16.13%.

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.