Apple Inc. (NASDAQ:AAPL) Shares Sold by Guinness Atkinson Asset Management Inc

Posted by Defense World Staff on Oct 25th, 2023

Guinness Atkinson Asset Management Inc lessened its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 2.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,481 shares of the iPhone maker’s stock after selling 725 shares during the period. Apple accounts for about 3.1% of Guinness Atkinson Asset Management Inc’s holdings, making the stock its 11th biggest position. Guinness Atkinson Asset Management Inc’s holdings in Apple were worth $5,912,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Apple by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after purchasing an additional 8,734,393 shares during the period. Berkshire Hathaway Inc raised its position in Apple by 2.3% in the first quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock worth $150,975,907,000 after acquiring an additional 20,424,207 shares in the last quarter. Moneta Group Investment Advisors LLC raised its position in Apple by 116,483.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock worth $74,002,245,000 after acquiring an additional 569,066,184 shares in the last quarter. Geode Capital Management LLC raised its position in Apple by 0.9% in the first quarter. Geode Capital Management LLC now owns 285,171,112 shares of the iPhone maker’s stock worth $46,918,015,000 after acquiring an additional 2,421,295 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Apple by 3.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 234,017,381 shares of the iPhone maker’s stock worth $38,589,468,000 after acquiring an additional 7,736,013 shares in the last quarter. Institutional investors and hedge funds own 58.51% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on AAPL shares. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 price objective on shares of Apple in a research report on Wednesday, September 13th. Canaccord Genuity Group upped their target price on shares of Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Bank of America restated a “neutral” rating and set a $173.00 target price on shares of Apple in a research report on Tuesday. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Apple in a report on Thursday, September 21st. Finally, Wells Fargo & Company boosted their price objective on shares of Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. Nine investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $199.40.

Read Our Latest Stock Report on AAPL

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 15,419 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now directly owns 136,445 shares in the company, valued at approximately $24,363,619.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Deirdre O’brien sold 15,419 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the completion of the sale, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at approximately $24,363,619.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 sale, 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. In the last ninety days, insiders have sold 455,004 shares of company stock worth $79,238,767. 0.06% of the stock is currently owned by company insiders.

Apple Stock Up 0.3 %

Shares of NASDAQ:AAPL opened at $173.44 on Wednesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.92 and a current ratio of 0.98. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $198.23. The stock has a market capitalization of $2.71 trillion, a P/E ratio of 29.15, a PEG ratio of 2.32 and a beta of 1.28. The stock has a 50-day simple moving average of $177.58 and a 200-day simple moving average of $179.11.

Apple (NASDAQ:AAPL – Get Free Report) last issued its earnings results 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. The business had revenue of $81.80 billion during the quarter, compared to analysts’ expectations of $81.79 billion. Apple had a return on equity of 164.92% and a net margin of 24.68%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 EPS. Equities analysts forecast that Apple Inc. will post 6.05 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 annualized dividend and a dividend yield of 0.55%. Apple’s payout ratio is 16.13%.

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.