Apple Inc. (NASDAQ:AAPL) Shares Sold by Simplicity Solutions LLC

Posted by Defense World Staff on Nov 4th, 2023

Simplicity Solutions LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 25.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 662,532 shares of the iPhone maker’s stock after selling 230,406 shares during the period. Apple makes up approximately 3.5% of Simplicity Solutions LLC’s portfolio, making the stock its 2nd biggest holding. Simplicity Solutions LLC’s holdings in Apple were worth $128,511,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Parker Financial LLC lifted its position in shares of Apple by 1.2% during the second quarter. Parker Financial LLC now owns 4,543 shares of the iPhone maker’s stock worth $881,000 after purchasing an additional 54 shares in the last quarter. MKT Advisors LLC lifted its position in shares of Apple by 0.5% during the second quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after purchasing an additional 60 shares in the last quarter. Professional Financial Advisors LLC lifted its position in shares of Apple by 0.5% during the second quarter. Professional Financial Advisors LLC now owns 13,213 shares of the iPhone maker’s stock worth $2,563,000 after purchasing an additional 62 shares in the last quarter. Aspire Capital Advisors LLC lifted its position in shares of Apple by 0.5% during the first quarter. Aspire Capital Advisors LLC now owns 14,076 shares of the iPhone maker’s stock worth $2,321,000 after purchasing an additional 64 shares in the last quarter. Finally, Legacy Financial Group LLC lifted its position in shares of Apple by 0.6% during the second quarter. Legacy Financial Group LLC now owns 10,949 shares of the iPhone maker’s stock worth $2,124,000 after purchasing an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Insider Transactions at Apple

In other news, CFO Luca Maestri sold 31,685 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $19,237,944.09. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Luca Maestri sold 31,685 shares of the firm’s stock in a transaction dated 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 directly owns 107,661 shares of the company’s stock, valued at $19,237,944.09. The transaction was disclosed in a legal filing with the SEC, which is available 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 stock was sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the transaction, the chief executive officer now directly owns 3,280,053 shares in the company, valued at $565,809,142.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 455,004 shares of company stock worth $79,238,767. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on AAPL. Bank of America reissued a “neutral” rating and set a $173.00 price target on shares of Apple in a research note on Tuesday, October 24th. Jefferies Financial Group dropped their price target on shares of Apple from $220.00 to $195.00 and set a “buy” rating for the company in a research note on Tuesday. KeyCorp reissued a “sector weight” rating on shares of Apple in a research note on Monday, October 30th. Robert W. Baird boosted their price target on shares of Apple from $180.00 to $204.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $195.00 target price on shares of Apple in a research note on Monday, October 9th. Ten research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $197.82.

Read Our Latest Analysis on Apple

Apple Stock Performance

Shares of AAPL stock opened at $176.65 on Friday. The stock has a market cap of $2.76 trillion, a P/E ratio of 29.69, a P/E/G ratio of 2.42 and a beta of 1.30. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.98 and a quick ratio of 0.92. The company has a fifty day moving average price of $176.84 and a two-hundred day moving average price of $179.30. Apple Inc. has a one year low of $124.17 and a one year high of $198.23.

Apple (NASDAQ:AAPL – Get Free Report) last posted its earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.07. The company had revenue of $89.50 billion during the quarter, compared to analysts’ expectations of $89.34 billion. Apple had a net margin of 24.68% and a return on equity of 164.92%. Apple’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the company posted $1.29 EPS. As a group, equities analysts predict that Apple Inc. will post 6.05 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 13th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Friday, November 10th. Apple’s dividend payout ratio is presently 16.13%.

About Apple

(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.