ForthRight Wealth Management LLC Sells 898 Shares of Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Oct 6th, 2023

ForthRight Wealth Management LLC decreased its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 7.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,813 shares of the iPhone maker’s stock after selling 898 shares during the quarter. Apple makes up approximately 1.0% of ForthRight Wealth Management LLC’s portfolio, making the stock its 21st largest position. ForthRight Wealth Management LLC’s holdings in Apple were worth $2,291,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AAPL. Atlantic Private Wealth LLC purchased a new position in shares of Apple in the 1st quarter worth about $30,000. Cheyne Capital Management UK LLP lifted its holdings 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 holdings 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. Clear Perspectives Financial Planning LLC lifted its holdings 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. Finally, NNS Holding purchased a new stake in Apple during the second quarter valued at about $193,000. Institutional investors own 58.51% of the company’s stock.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 65,536 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total value of $11,279,400.96. Following the completion of the sale, the senior vice president now owns 136,445 shares of the company’s stock, valued at $23,483,548.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Deirdre O’brien sold 65,536 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total value of $11,279,400.96. Following the completion of the sale, the senior vice president now owns 136,445 shares of the company’s stock, valued at $23,483,548.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 240,569 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly 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 321,524 shares of company stock valued at $55,530,770 over the last quarter. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

AAPL has been the topic of several recent research reports. Credit Suisse Group reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Apple in a report on Friday, September 15th. StockNews.com initiated coverage on shares of Apple in a report on Thursday. They set a “hold” rating on the stock. Jefferies Financial Group dropped their price objective on shares of Apple from $225.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, August 4th. Sanford C. Bernstein increased their price target on shares of Apple from $175.00 to $195.00 and gave the stock a “market perform” rating in a report on Thursday, July 27th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $198.00 price target on shares of Apple in a report on Tuesday, September 12th. Nine equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $200.54.

Read Our Latest Stock Report on AAPL

Apple Stock Performance

NASDAQ:AAPL opened at $174.91 on Friday. The firm has a market cap of $2.73 trillion, a PE ratio of 29.40, a price-to-earnings-growth ratio of 2.31 and a beta of 1.28. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $198.23. 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 business has a 50 day moving average price of $179.63 and a 200-day moving average price of $177.47.

Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $81.79 billion. During the same quarter last year, the firm posted $1.20 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. Equities research analysts predict that Apple Inc. will post 6.05 earnings per share for the current year.

Apple Announces Dividend

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

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.