Apple Inc. (NASDAQ:AAPL) Stock Position Decreased by Red Tortoise LLC

Posted by Defense World Staff on Nov 5th, 2023

Red Tortoise LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,385 shares of the iPhone maker’s stock after selling 61 shares during the period. Red Tortoise LLC’s holdings in Apple were worth $1,045,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. IFM Investors Pty Ltd lifted its stake in shares of Apple by 20.0% in the 1st quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock worth $456,728,000 after acquiring an additional 435,891 shares during the period. Ironwood Wealth Management LLC. lifted its stake in shares of Apple by 0.4% in the 1st quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock worth $42,016,000 after acquiring an additional 1,040 shares during the period. Markel Corp lifted its stake in shares of Apple by 0.7% in the 1st quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock worth $210,752,000 after acquiring an additional 8,450 shares during the period. Camden Capital LLC lifted its stake in shares of Apple by 9.2% in the 1st quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock worth $27,305,000 after acquiring an additional 13,200 shares during the period. Finally, Harbor Island Capital LLC lifted its stake in shares of Apple by 0.3% in the 1st quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock worth $23,629,000 after acquiring an additional 400 shares during the period. Institutional investors own 58.51% of the company’s stock.

Apple Price Performance

NASDAQ:AAPL opened at $176.65 on Friday. The company has a 50-day moving average of $176.80 and a 200-day moving average of $179.38. The company has a market capitalization of $2.76 trillion, a price-to-earnings ratio of 29.69, a PEG ratio of 2.42 and a beta of 1.30. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.92 and a current ratio of 0.98.

Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $1.46 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 the consensus estimate of $89.34 billion. Apple had a net margin of 24.68% and a return on equity of 164.92%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the firm earned $1.29 EPS. As a group, equities research 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 will be paid on Thursday, November 16th. Investors of record on Monday, November 13th will be given 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 of this dividend is Friday, November 10th. Apple’s dividend payout ratio (DPR) is currently 16.13%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AAPL. Robert W. Baird upped 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. Oppenheimer cut their target price on shares of Apple from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, October 30th. Evercore ISI reissued an “outperform” rating and set a $210.00 target price on shares of Apple in a research note on Thursday, September 28th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Apple in a research note on Thursday, September 21st. Finally, Piper Sandler Companies increased their target price on shares of Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, July 31st. Ten research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $197.82.

Check Out Our Latest Research Report on AAPL

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction dated 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction dated 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 240,569 shares of the 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 sale, the chief executive officer now owns 3,280,053 shares of the company’s stock, valued at approximately $565,809,142.50. The disclosure for this sale can be found here. Insiders sold 455,004 shares of company stock worth $79,238,767 in the last quarter. 0.06% of the stock is owned by corporate insiders.

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.