Compton Financial Group LLC Lowers Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Oct 16th, 2023

Compton Financial Group LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,854 shares of the iPhone maker’s stock after selling 306 shares during the period. Apple accounts for 0.4% of Compton Financial Group LLC’s investment portfolio, making the stock its 14th biggest position. Compton Financial Group LLC’s holdings in Apple were worth $1,136,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. IFM Investors Pty Ltd grew its position in Apple by 20.0% during the first quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock valued at $456,728,000 after acquiring an additional 435,891 shares during the period. Ironwood Wealth Management LLC. grew its position in Apple by 0.4% during the first quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock valued at $42,016,000 after acquiring an additional 1,040 shares during the period. Markel Corp grew its position in Apple by 0.7% during the first quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock valued at $210,752,000 after acquiring an additional 8,450 shares during the period. Camden Capital LLC grew its position in Apple by 9.2% during the first quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock valued at $27,305,000 after acquiring an additional 13,200 shares during the period. Finally, Harbor Island Capital LLC grew its position in Apple by 0.3% during the first quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock valued at $23,629,000 after acquiring an additional 400 shares during the period. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AAPL shares. Bank of America reissued a “neutral” rating and set a $208.00 price target on shares of Apple in a research report on Friday, September 22nd. Barclays reaffirmed an “equal weight” rating and issued a $167.00 target price on shares of Apple in a research report on Monday, October 9th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Apple in a research report on Thursday, September 21st. Canaccord Genuity Group upped their target price on Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Finally, Oppenheimer upped their target price on Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Nine 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.com, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $200.54.

Check Out Our Latest Report on Apple

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction 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 directly owns 136,445 shares of the company’s stock, valued at approximately $24,363,619.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Luca Maestri sold 31,685 shares of the 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 completion of the sale, the chief financial officer now owns 107,661 shares in the company, valued at approximately $19,237,944.09. 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 15,419 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $178.56, for a total value of $2,753,216.64. Following the sale, the senior vice president now owns 136,445 shares of the company’s stock, valued at approximately $24,363,619.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 455,004 shares of company stock valued at $79,238,767. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

Shares of AAPL stock opened at $178.85 on Monday. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $198.23. The firm has a market capitalization of $2.80 trillion, a price-to-earnings ratio of 30.06, a price-to-earnings-growth ratio of 2.40 and a beta of 1.28. The business has a 50 day simple moving average of $178.04 and a 200 day simple moving average of $178.59. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.98 and a quick ratio of 0.92.

Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, topping 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 business had revenue of $81.80 billion during the quarter, compared to analyst estimates of $81.79 billion. During the same period in the prior year, the company posted $1.20 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities research analysts anticipate 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. Shareholders of record on Monday, August 14th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Friday, August 11th. Apple’s payout ratio is currently 16.13%.

Apple Company 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.