Heritage Investment Group Inc. Has $2.74 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Oct 6th, 2023

Heritage Investment Group Inc. grew its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 34.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,117 shares of the iPhone maker’s stock after buying an additional 3,588 shares during the quarter. Apple accounts for approximately 0.8% of Heritage Investment Group Inc.’s holdings, making the stock its 17th biggest holding. Heritage Investment Group Inc.’s holdings in Apple were worth $2,738,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Atlantic Private Wealth LLC acquired a new stake in shares of Apple in the 1st quarter valued at $30,000. Summit Wealth Group LLC boosted its stake in shares of Apple by 16,252.3% in the 1st quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 6,949,659 shares in the last quarter. HBC Financial Services PLLC boosted its stake in shares of Apple by 21.7% in the 1st 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 in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Apple by 12.6% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,103 shares of the iPhone maker’s stock valued at $143,000 after purchasing an additional 123 shares in the last quarter. Finally, EMC Capital Management boosted its holdings in shares of Apple by 60.5% in the 4th quarter. EMC Capital Management now owns 1,327 shares of the iPhone maker’s stock worth $172,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 58.51% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $195.00 price objective on shares of Apple in a research note on Wednesday, September 13th. Raymond James increased their price objective on shares of Apple from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Tigress Financial boosted their target price on shares of Apple from $210.00 to $225.00 in a research note on Friday, June 23rd. Piper Sandler increased their price target on shares of Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, July 31st. 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $200.54.

Read Our Latest Stock Analysis on Apple

Apple Stock Performance

Shares of AAPL stock opened at $174.91 on Friday. 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 market capitalization of $2.73 trillion, a P/E ratio of 29.40, a price-to-earnings-growth ratio of 2.31 and a beta of 1.28. The company’s 50 day moving average price is $179.63 and its two-hundred day moving average price is $177.47. Apple Inc. has a 52 week low of $124.17 and a 52 week 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 the consensus estimate of $1.19 by $0.07. The firm had revenue of $81.80 billion for 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 business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the company posted $1.20 EPS. On average, analysts expect that Apple Inc. will post 6.05 earnings per share for the current fiscal year.

Apple Dividend Announcement

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 dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Friday, August 11th. Apple’s dividend payout ratio (DPR) is presently 16.13%.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the company’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 legal filing with the SEC, which is available at this hyperlink. In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the business’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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 321,524 shares of company stock worth $55,530,770. Corporate insiders own 0.06% of the company’s stock.

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.