Weatherly Asset Management L. P. Has $78.60 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Oct 25th, 2023

Weatherly Asset Management L. P. reduced its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 3.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 405,211 shares of the iPhone maker’s stock after selling 16,372 shares during the quarter. Apple comprises about 9.2% of Weatherly Asset Management L. P.’s holdings, making the stock its 2nd biggest holding. Weatherly Asset Management L. P.’s holdings in Apple were worth $78,599,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Atlantic Private Wealth LLC bought a new position in shares of Apple in the first quarter worth approximately $30,000. Summit Wealth Group LLC grew its position in Apple by 16,252.3% in 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 grew its position 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 acquiring an additional 80 shares in the last quarter. Clear Perspectives Financial Planning LLC grew its position 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 acquiring an additional 211 shares in the last quarter. Finally, Magellan Asset Management Ltd grew its position in Apple by 10.6% in 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. 58.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 15,419 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $24,363,619.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, CEO Timothy D. Cook sold 240,569 shares of the company’s stock in a transaction that occurred 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 directly owns 3,280,053 shares of the company’s stock, valued at $565,809,142.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Deirdre O’brien sold 15,419 shares of the business’s stock in a transaction dated 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 directly 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. Over the last quarter, insiders have sold 455,004 shares of company stock worth $79,238,767. 0.06% of the stock is owned by insiders.

Apple Stock Performance

Apple stock opened at $173.44 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63. The company 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’s 50 day moving average is $177.58 and its 200 day moving average is $179.11. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $198.23.

Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly 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. Apple had a net margin of 24.68% and a return on equity of 164.92%. The company had revenue of $81.80 billion for the quarter, compared to analysts’ expectations of $81.79 billion. During the same quarter in the previous year, the business posted $1.20 EPS. Apple’s revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post 6.05 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AAPL. Morgan Stanley dropped their target price on Apple from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, October 16th. Rosenblatt Securities reiterated a “neutral” rating and issued a $198.00 target price on shares of Apple in a research report on Tuesday, September 12th. TD Cowen lifted their target price on shares of Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Robert W. Baird lifted 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. Finally, Evercore ISI restated an “outperform” rating and set a $210.00 price target on shares of Apple in a research report on Thursday, September 28th. Nine equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $199.40.

Read Our Latest Research Report on AAPL

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.