Bourgeon Capital Management LLC Sells 281 Shares of Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Oct 22nd, 2023

Bourgeon Capital Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,671 shares of the iPhone maker’s stock after selling 281 shares during the period. Apple comprises 1.9% of Bourgeon Capital Management LLC’s portfolio, making the stock its 20th largest position. Bourgeon Capital Management LLC’s holdings in Apple were worth $8,277,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atlantic Private Wealth LLC bought a new position in Apple in the first quarter worth about $30,000. Cheyne Capital Management UK LLP raised its stake in Apple by 200.0% in the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after buying an additional 550 shares in the last quarter. HBC Financial Services PLLC raised its stake in Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares in the last quarter. Clear Perspectives Financial Planning LLC grew its holdings in Apple by 27.3% in the first quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock worth $172,000 after purchasing an additional 211 shares during the period. Finally, NNS Holding purchased a new stake in Apple in the second quarter worth about $193,000. 58.51% of the stock is owned by institutional investors.

Insider Activity at Apple

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AAPL. The Goldman Sachs Group cut their price objective on shares of Apple from $222.00 to $216.00 and set a “buy” rating on the stock in a report on Wednesday, September 13th. Piper Sandler upped their price objective on shares of Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, July 31st. Bank of America restated a “neutral” rating and issued a $208.00 price objective on shares of Apple in a report on Friday, September 22nd. Wells Fargo & Company upped their price objective on shares of Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 24th. Finally, Jefferies Financial Group cut their price objective on shares of Apple from $225.00 to $220.00 and set a “buy” rating on the stock in a 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $200.40.

Read Our Latest Report on AAPL

Apple Stock Down 1.5 %

Shares of AAPL stock opened at $172.88 on Friday. The company has a market capitalization of $2.70 trillion, a price-to-earnings ratio of 29.06, a PEG ratio of 2.36 and a beta of 1.28. Apple Inc. has a one year low of $124.17 and a one year high of $198.23. The company’s fifty day moving average price is $177.79 and its 200-day moving average price is $178.89. 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 announced its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, beating 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 company’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the firm earned $1.20 EPS. Sell-side analysts expect that Apple Inc. will post 6.05 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, August 11th. This represents a $0.96 annualized dividend and a yield of 0.56%. Apple’s payout ratio is 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.