Apple Inc. (NASDAQ:AAPL) is Naples Global Advisors LLC’s Largest Position

Posted by Defense World Staff on Oct 6th, 2023

Naples Global Advisors LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 16.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 202,877 shares of the iPhone maker’s stock after purchasing an additional 29,300 shares during the period. Apple accounts for 4.6% of Naples Global Advisors LLC’s investment portfolio, making the stock its biggest holding. Naples Global Advisors LLC’s holdings in Apple were worth $39,352,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Moneta Group Investment Advisors LLC grew its stake in shares of Apple by 116,483.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock worth $74,002,245,000 after acquiring an additional 569,066,184 shares during the period. Norges Bank purchased a new stake in shares of Apple during the 4th quarter valued at approximately $21,746,940,000. Morgan Stanley lifted its stake in shares of Apple by 14.2% during the 4th quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock valued at $27,110,586,000 after buying an additional 25,926,552 shares in the last quarter. Berkshire Hathaway Inc lifted its stake in shares of Apple by 2.3% during the 1st quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock valued at $150,975,907,000 after buying an additional 20,424,207 shares in the last quarter. Finally, Providence Capital Advisors LLC lifted its stake in shares of Apple by 16,638.6% during the 1st quarter. Providence Capital Advisors LLC now owns 15,593,974 shares of the iPhone maker’s stock valued at $94,566,000 after buying an additional 15,500,812 shares in the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Insider Activity at Apple

In related news, 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 transaction of $41,498,152.50. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Deirdre O’brien sold 15,419 shares of the firm’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 transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Timothy D. Cook sold 240,569 shares of the firm’s stock in a transaction that occurred 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 have sold 321,524 shares of company stock worth $55,530,770 over the last ninety days. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Citigroup reiterated a “buy” rating and set a $240.00 price objective on shares of Apple in a research note on Friday, August 4th. Robert W. Baird boosted 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. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Apple from $180.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, July 24th. StockNews.com initiated coverage on Apple in a research note on Thursday. They set a “hold” rating for the company. Finally, Barclays reissued an “equal weight” rating and set a $167.00 price objective on shares of Apple in a research note on Tuesday, September 19th. Nine equities research 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, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.54.

View Our Latest Analysis on AAPL

Apple Trading Up 0.7 %

Shares of AAPL opened at $174.91 on Friday. The firm’s 50-day moving average price is $179.63 and its 200-day moving average price is $177.47. The firm has a market capitalization of $2.73 trillion, a price-to-earnings ratio of 29.40, a PEG ratio of 2.31 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. 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 released its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 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 during the quarter, compared to analysts’ expectations of $81.79 billion. During the same quarter last year, the business posted $1.20 EPS. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 6.05 EPS for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 annualized dividend and a dividend 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.