FDx Advisors Inc. Acquires 23,650 Shares of Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Oct 7th, 2023

FDx Advisors Inc. increased its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 21.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 133,435 shares of the iPhone maker’s stock after purchasing an additional 23,650 shares during the period. Apple accounts for 1.4% of FDx Advisors Inc.’s investment portfolio, making the stock its 5th biggest position. FDx Advisors Inc.’s holdings in Apple were worth $25,882,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Atlantic Private Wealth LLC acquired a new stake in shares of Apple during the 1st quarter worth $30,000. Summit Wealth Group LLC grew its position in Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 6,949,659 shares during the period. HBC Financial Services PLLC increased its stake in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after acquiring an additional 80 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings 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 worth $143,000 after purchasing an additional 123 shares during the period. Finally, EMC Capital Management lifted its stake 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 valued at $172,000 after purchasing an additional 500 shares in the last quarter. 58.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AAPL shares. Robert W. Baird increased their target price on shares of Apple from $180.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Wells Fargo & Company raised their target price on shares of Apple from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 24th. Morgan Stanley restated an “overweight” rating and set a $215.00 target price on shares of Apple in a report on Monday, September 25th. UBS Group reiterated a “neutral” rating and issued a $190.00 price target on shares of Apple in a report on Wednesday, September 27th. Finally, Piper Jaffray Companies boosted their price objective on Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, July 31st. Nine 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 has a consensus rating of “Moderate Buy” and an average price target of $200.54.

View Our Latest Stock Report on AAPL

Apple Stock Performance

AAPL stock opened at $177.49 on Friday. The stock’s 50 day simple moving average is $179.26 and its 200 day simple moving average is $177.61. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $198.23. The firm has a market cap of $2.77 trillion, a P/E ratio of 29.83, a P/E/G 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.

Apple (NASDAQ:AAPL – Get Free Report) last issued 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. 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 quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 earnings per share. As a group, equities research analysts predict that Apple Inc. will post 6.05 EPS for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Friday, August 11th. Apple’s dividend payout ratio (DPR) is 16.13%.

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 65,536 shares of Apple stock in a transaction dated Tuesday, October 3rd. The shares were 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 directly owns 136,445 shares in the company, valued at approximately $23,483,548.95. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Apple news, SVP Deirdre O’brien sold 65,536 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $172.11, 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 $23,483,548.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 240,569 shares of Apple 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 sale, the chief executive officer now directly owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 321,524 shares of company stock worth $55,530,770. Insiders own 0.06% of the company’s stock.

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.