Apple Inc. (NASDAQ:AAPL) is Capital Insight Partners LLC’s 7th Largest Position

Posted by Defense World Staff on Oct 26th, 2023

Capital Insight Partners LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,384 shares of the iPhone maker’s stock after selling 1,302 shares during the period. Apple comprises about 2.7% of Capital Insight Partners LLC’s holdings, making the stock its 7th largest holding. Capital Insight Partners LLC’s holdings in Apple were worth $11,907,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Parker Financial LLC boosted its holdings in Apple by 1.2% in the 2nd quarter. Parker Financial LLC now owns 4,543 shares of the iPhone maker’s stock valued at $881,000 after purchasing an additional 54 shares in the last quarter. MKT Advisors LLC boosted its holdings in Apple by 0.5% in the 2nd quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock valued at $1,777,000 after purchasing an additional 60 shares in the last quarter. Professional Financial Advisors LLC boosted its stake in shares of Apple by 0.5% during the 2nd quarter. Professional Financial Advisors LLC now owns 13,213 shares of the iPhone maker’s stock worth $2,563,000 after acquiring an additional 62 shares in the last quarter. Aspire Capital Advisors LLC boosted its stake in shares of Apple by 0.5% during the 1st quarter. Aspire Capital Advisors LLC now owns 14,076 shares of the iPhone maker’s stock worth $2,321,000 after acquiring an additional 64 shares in the last quarter. Finally, Orgel Wealth Management LLC boosted its stake in shares of Apple by 0.7% during the 2nd quarter. Orgel Wealth Management LLC now owns 8,926 shares of the iPhone maker’s stock worth $1,731,000 after acquiring an additional 66 shares in the last quarter. 58.51% of the stock is currently owned by hedge funds and other institutional investors.

Apple Trading Down 1.3 %

Shares of AAPL opened at $171.10 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $2.68 trillion, a P/E ratio of 28.76, a price-to-earnings-growth ratio of 2.33 and a beta of 1.28. The stock’s fifty day simple moving average is $177.47 and its 200 day simple moving average is $179.06. 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, beating the consensus estimate of $1.19 by $0.07. Apple had a return on equity of 164.92% and a net margin of 24.68%. The firm had revenue of $81.80 billion during the quarter, compared to the consensus estimate of $81.79 billion. During the same period in the prior year, the firm earned $1.20 EPS. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts forecast that Apple Inc. will post 6.05 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 annualized dividend and a yield of 0.56%. Apple’s dividend payout ratio is currently 16.13%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AAPL. Credit Suisse Group reissued an “outperform” rating and set a $220.00 price target on shares of Apple in a research note on Friday, September 15th. Bank of America reissued a “neutral” rating and set a $173.00 price target on shares of Apple in a research note on Tuesday. StockNews.com began coverage on Apple in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Wells Fargo & Company boosted their price target on Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 24th. Finally, Wedbush upped their target price on Apple from $230.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 13th. Nine equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $199.40.

Get Our Latest Analysis on AAPL

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 65,536 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total value of $11,279,400.96. Following the completion of the sale, the senior vice president now directly owns 136,445 shares in the company, valued at approximately $23,483,548.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Deirdre O’brien sold 65,536 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the completion of the sale, the senior vice president now directly owns 136,445 shares in the company, valued at $23,483,548.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 240,569 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total value of $41,498,152.50. Following the sale, the chief executive officer now 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 three months, insiders sold 455,004 shares of company stock worth $79,238,767. Corporate insiders own 0.06% of the company’s stock.

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.