KWB Wealth Buys 217 Shares of Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Oct 29th, 2023

KWB Wealth raised its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,838 shares of the iPhone maker’s stock after acquiring an additional 217 shares during the period. KWB Wealth’s holdings in Apple were worth $2,684,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC increased its holdings in shares of Apple by 116,483.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock worth $74,002,245,000 after buying an additional 569,066,184 shares during the last quarter. Norges Bank bought a new stake in shares of Apple in the 4th quarter worth about $21,746,940,000. Morgan Stanley increased its holdings in shares of Apple by 14.2% in the 4th quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock worth $27,110,586,000 after buying an additional 25,926,552 shares during the last quarter. Berkshire Hathaway Inc increased its holdings in shares of Apple by 2.3% in the 1st quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock worth $150,975,907,000 after buying an additional 20,424,207 shares during the last quarter. Finally, Providence Capital Advisors LLC increased its holdings in shares of Apple by 16,638.6% in the 1st quarter. Providence Capital Advisors LLC now owns 15,593,974 shares of the iPhone maker’s stock worth $94,566,000 after buying an additional 15,500,812 shares during the last quarter. 58.51% of the stock is currently owned by institutional investors.

Apple Trading Up 0.8 %

NASDAQ:AAPL opened at $168.22 on Friday. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23. The firm has a 50 day moving average of $177.20 and a 200 day moving average of $179.02. 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 stock has a market capitalization of $2.63 trillion, a price-to-earnings ratio of 28.27, a PEG ratio of 2.31 and a beta of 1.28.

Apple (NASDAQ:AAPL – Get Free Report) last posted its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $81.79 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. Apple’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple Inc. will post 6.05 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a yield of 0.57%. Apple’s payout ratio is 16.13%.

Insider Activity at Apple

In related news, CFO Luca Maestri sold 31,685 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now 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 available at this hyperlink. In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the company’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 transaction of $2,753,216.64. Following the transaction, the senior vice president now owns 136,445 shares in the company, valued at approximately $24,363,619.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Luca Maestri sold 31,685 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 107,661 shares in the company, valued at approximately $19,237,944.09. The disclosure for this sale can be found here. Insiders sold 455,004 shares of company stock valued at $79,238,767 over the last 90 days. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AAPL shares. Sanford C. Bernstein restated a “market perform” rating and issued a $195.00 target price on shares of Apple in a report on Monday, October 9th. Oppenheimer upped their price target on shares of Apple from $195.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, August 4th. KeyCorp reiterated an “overweight” rating and set a $200.00 price target on shares of Apple in a report on Thursday, September 14th. Canaccord Genuity Group upped their price target on shares of Apple from $185.00 to $205.00 and gave the company a “buy” rating in a report on Friday, August 4th. Finally, Piper Sandler Companies upped their price target on shares of Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, July 31st. Nine investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $199.40.

View Our Latest Research Report on Apple

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.