Eclectic Associates Inc. ADV Cuts Stock Position in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Oct 6th, 2023

Eclectic Associates Inc. ADV trimmed its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,971 shares of the iPhone maker’s stock after selling 820 shares during the period. Apple comprises about 3.2% of Eclectic Associates Inc. ADV’s holdings, making the stock its 6th largest position. Eclectic Associates Inc. ADV’s holdings in Apple were worth $6,589,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. MKT Advisors LLC raised its stake in Apple by 0.5% during the 2nd 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 period. Professional Financial Advisors LLC raised its stake in Apple by 0.5% during the 2nd quarter. Professional Financial Advisors LLC now owns 13,213 shares of the iPhone maker’s stock worth $2,563,000 after acquiring an additional 62 shares during the period. Aspire Capital Advisors LLC raised its stake in Apple by 0.5% during the 1st quarter. Aspire Capital Advisors LLC now owns 14,076 shares of the iPhone maker’s stock worth $2,321,000 after acquiring an additional 64 shares during the period. Orgel Wealth Management LLC raised its stake in Apple by 0.7% during the 2nd quarter. Orgel Wealth Management LLC now owns 8,926 shares of the iPhone maker’s stock worth $1,731,000 after acquiring an additional 66 shares during the period. Finally, Freedom Wealth Alliance LLC raised its stake in Apple by 0.4% during the 1st quarter. Freedom Wealth Alliance LLC now owns 16,091 shares of the iPhone maker’s stock worth $2,653,000 after acquiring an additional 67 shares during the period. 58.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Deirdre O’brien sold 65,536 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the sale, the senior vice president now owns 136,445 shares in the company, valued at $23,483,548.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Timothy D. Cook sold 240,569 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the sale, the chief executive officer now owns 3,280,053 shares in the company, valued at $565,809,142.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 65,536 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 136,445 shares in the company, valued at approximately $23,483,548.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 321,524 shares of company stock worth $55,530,770. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of recent analyst reports. Morgan Stanley restated an “overweight” rating and set a $215.00 target price on shares of Apple in a research note on Monday, September 25th. Bank of America reiterated a “neutral” rating and set a $208.00 price objective on shares of Apple in a research report on Friday, September 22nd. Piper Jaffray Companies lifted their price objective on shares of Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, July 31st. Evercore ISI reiterated an “outperform” rating and set a $210.00 price objective on shares of Apple in a research report on Thursday, September 28th. Finally, Tigress Financial lifted their price objective on shares of Apple from $210.00 to $225.00 in a research report on Friday, June 23rd. Nine equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $200.54.

Check Out Our Latest Analysis on Apple

Apple Stock Performance

Shares of Apple stock opened at $174.91 on Friday. The company has a market capitalization of $2.73 trillion, a PE ratio of 29.40, a P/E/G ratio of 2.31 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 has a 50-day simple moving average of $179.63 and a two-hundred day simple moving average of $177.47. Apple Inc. has a one year low of $124.17 and a one 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 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The business had revenue of $81.80 billion during 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%. The firm’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 earnings per share. Research analysts expect that Apple Inc. will post 6.05 EPS for the current fiscal 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 issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a yield of 0.55%. Apple’s dividend payout ratio is presently 16.13%.

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.