Apple Inc. (NASDAQ:AAPL) Stock Holdings Lowered by Breakwater Capital Group

Posted by Defense World Staff on Oct 28th, 2023

Breakwater Capital Group trimmed its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,290 shares of the iPhone maker’s stock after selling 216 shares during the quarter. Apple accounts for approximately 5.1% of Breakwater Capital Group’s holdings, making the stock its biggest holding. Breakwater Capital Group’s holdings in Apple were worth $14,022,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AAPL. Atlantic Private Wealth LLC purchased a new position in Apple during the 1st quarter valued at $30,000. Cheyne Capital Management UK LLP increased its position in Apple by 200.0% during the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $212,000 after purchasing an additional 550 shares during the period. HBC Financial Services PLLC increased its position in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the period. Clear Perspectives Financial Planning LLC increased its position in Apple by 27.3% during the 1st quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock valued at $172,000 after purchasing an additional 211 shares during the period. Finally, NNS Holding purchased a new position in Apple during the 2nd quarter valued at $193,000. 58.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of research analyst reports. Credit Suisse Group reissued an “outperform” rating and set a $220.00 price objective on shares of Apple in a research report on Friday, September 15th. TD Cowen boosted their target price on shares of Apple from $195.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, August 1st. Wells Fargo & Company boosted their target price on shares of Apple from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 24th. Piper Sandler Companies boosted their target price on shares of Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, July 31st. Finally, Barclays restated an “equal weight” rating and set a $167.00 target price on shares of Apple in a report on Monday, October 9th. Nine research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.40.

Check Out Our Latest Research Report on Apple

Insider Activity

In other news, CEO Timothy D. Cook sold 240,569 shares of the company’s stock in a transaction dated 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 owns 3,280,053 shares of the company’s stock, valued at approximately $565,809,142.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Timothy D. Cook sold 240,569 shares of the company’s stock in a transaction dated 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 owns 3,280,053 shares of the company’s stock, valued at approximately $565,809,142.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The disclosure for this sale can be found here. Insiders sold 455,004 shares of company stock valued at $79,238,767 in the last quarter. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

AAPL opened at $168.22 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.92 and a current ratio of 0.98. The stock has a market capitalization of $2.63 trillion, a P/E ratio of 28.27, a P/E/G ratio of 2.31 and a beta of 1.28. The company’s 50-day simple moving average is $177.33 and its two-hundred day simple moving average is $178.97. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $198.23.

Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, beating the consensus estimate of $1.19 by $0.07. Apple had a net margin of 24.68% and a return on equity of 164.92%. The firm had revenue of $81.80 billion during the quarter, compared to analyst estimates of $81.79 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, analysts predict that Apple Inc. will post 6.05 EPS for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Friday, August 11th. Apple’s payout ratio is currently 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.