Apple Inc. (NASDAQ:AAPL) Stake Increased by Allworth Financial LP

Posted by Defense World Staff on Oct 13th, 2023

Allworth Financial LP grew its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 2.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 689,400 shares of the iPhone maker’s stock after purchasing an additional 19,179 shares during the period. Apple makes up 1.1% of Allworth Financial LP’s portfolio, making the stock its 15th biggest position. Allworth Financial LP’s holdings in Apple were worth $133,723,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Atlantic Private Wealth LLC purchased a new stake in shares of Apple during the first quarter worth $30,000. Summit Wealth Group LLC raised its holdings in shares of 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 worth $42,000 after acquiring an additional 6,949,659 shares in the last quarter. HBC Financial Services PLLC raised its holdings in shares of 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 in the last quarter. Clear Perspectives Financial Planning LLC raised its holdings in shares of Apple by 27.3% during the first quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock worth $172,000 after acquiring an additional 211 shares in the last quarter. Finally, Magellan Asset Management Ltd raised its holdings in shares of Apple by 10.6% during the second quarter. Magellan Asset Management Ltd now owns 1,323 shares of the iPhone maker’s stock worth $181,000 after acquiring an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Apple Stock Up 0.5 %

Shares of AAPL opened at $180.71 on Friday. The stock has a market cap of $2.83 trillion, a price-to-earnings ratio of 30.37, a P/E/G ratio of 2.40 and a beta of 1.28. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $198.23. The company has a 50-day moving average price of $178.10 and a two-hundred day moving average price of $178.18.

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 net margin of 24.68% and a return on equity of 164.92%. The firm had revenue of $81.80 billion during the quarter, compared to analysts’ expectations of $81.79 billion. During the same quarter last year, the company earned $1.20 earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities analysts predict 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. Stockholders of record on Monday, August 14th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Friday, August 11th. Apple’s dividend payout ratio (DPR) is currently 16.13%.

Insider Activity

In related news, CFO Luca Maestri sold 31,685 shares of the business’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $178.69, for a total value of $5,661,792.65. Following the completion of the transaction, the chief financial officer now owns 107,661 shares in the company, valued at approximately $19,237,944.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Apple news, CEO Timothy D. Cook sold 240,569 shares of Apple stock in a transaction on 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 sale, the chief executive officer now owns 3,280,053 shares of the company’s stock, valued at approximately $565,809,142.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Luca Maestri sold 31,685 shares of Apple stock in a transaction on Monday, October 9th. The stock was sold at an average price of $178.69, for a total transaction of $5,661,792.65. Following the sale, the chief financial officer now directly owns 107,661 shares of the company’s stock, valued at approximately $19,237,944.09. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 455,004 shares of company stock worth $79,238,767. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several recent research reports. Robert W. Baird increased their price objective on Apple from $180.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, August 1st. Morgan Stanley restated an “overweight” rating and set a $215.00 target price on shares of Apple in a report on Monday, September 25th. Evercore ISI restated an “outperform” rating and set a $210.00 target price on shares of Apple in a report on Thursday, September 28th. Wells Fargo & Company raised their target price on Apple from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 24th. Finally, UBS Group restated a “neutral” rating and set a $190.00 target price on shares of Apple in a report on Wednesday, September 27th. Nine analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $200.54.

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Apple Company Profile

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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.