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2024.05.19 08:18
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Apple Inc. (NASDAQ:AAPL) Stock Holdings Lessened by Obermeyer Wood Investment Counsel Lllp

Obermeyer Wood Investment Counsel Lllp reduced its position in Apple Inc. stock by 2.0% in the fourth quarter, with the firm now owning 369,345 shares of the company. Apple accounts for approximately 4.9% of Obermeyer Wood Investment Counsel Lllp's portfolio. Other large investors also modified their holdings in Apple. Analysts have set new price targets for the stock, with an average rating of "Moderate Buy" and an average price target of $204.71. Apple's stock opened at $189.87 on Friday.

Obermeyer Wood Investment Counsel Lllp reduced its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 369,345 shares of the iPhone maker's stock after selling 7,678 shares during the period. Apple accounts for approximately 4.9% of Obermeyer Wood Investment Counsel Lllp's portfolio, making the stock its 5th largest position. Obermeyer Wood Investment Counsel Lllp's holdings in Apple were worth $71,110,000 at the end of the most recent quarter.

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Other large investors also recently modified their holdings of the company. Headinvest LLC increased its position in shares of Apple by 1.7% during the third quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker's stock valued at $9,236,000 after buying an additional 872 shares during the period. Sound Income Strategies LLC boosted its position in Apple by 16.1% during the 4th quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker's stock valued at $14,461,000 after acquiring an additional 10,425 shares in the last quarter. DNB Asset Management AS grew its holdings in shares of Apple by 6.9% during the 4th quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker's stock worth $829,240,000 after acquiring an additional 279,311 shares during the period. Boltwood Capital Management grew its holdings in shares of Apple by 2.8% during the 4th quarter. Boltwood Capital Management now owns 37,178 shares of the iPhone maker's stock worth $7,158,000 after acquiring an additional 1,021 shares during the period. Finally, NewEdge Wealth LLC raised its position in shares of Apple by 16.2% in the 4th quarter. NewEdge Wealth LLC now owns 808,709 shares of the iPhone maker's stock worth $155,701,000 after acquiring an additional 112,980 shares in the last quarter. 60.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Apple from $210.00 to $225.00 and gave the stock an "overweight" rating in a research note on Friday, May 3rd. Morgan Stanley upped their target price on shares of Apple from $210.00 to $216.00 and gave the stock an "overweight" rating in a research report on Friday, May 3rd. Wedbush reissued an "outperform" rating and set a $250.00 price target on shares of Apple in a research report on Monday, May 13th. Rosenblatt Securities restated a "neutral" rating and issued a $196.00 price objective (up previously from $189.00) on shares of Apple in a report on Friday, May 3rd. Finally, Canaccord Genuity Group lifted their target price on shares of Apple from $200.00 to $215.00 and gave the company a "buy" rating in a report on Saturday, May 4th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average price target of $204.71.

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Get Our Latest Report on Apple

Apple Trading Up 0.0 %

Shares of NASDAQ:AAPL opened at $189.87 on Friday. The stock's 50-day simple moving average is $174.13 and its two-hundred day simple moving average is $182.61. The stock has a market capitalization of $2.91 trillion, a price-to-earnings ratio of 29.53, a PEG ratio of 2.28 and a beta of 1.26. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $199.62. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04.

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Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The company had revenue of $90.75 billion for the quarter, compared to the consensus estimate of $90.37 billion. During the same quarter last year, the firm posted $1.52 earnings per share. The firm's revenue was down 4.3% compared to the same quarter last year. Analysts expect that Apple Inc. will post 6.57 EPS for the current year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were given a dividend of $0.25 per share. This is an increase from Apple's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.53%. Apple's payout ratio is presently 15.55%.

Apple declared that its Board of Directors has approved a stock buyback plan on Thursday, May 2nd that allows the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Insider Transactions at Apple

In related news, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now directly owns 4,434,576 shares in the company, valued at $802,392,181.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Apple news, SVP Deirdre O'brien sold 54,732 shares of the company's stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total value of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares in the company, valued at $23,068,376.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the transaction, the director now owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The disclosure for this sale can be found here. Insiders sold 371,270 shares of company stock worth $64,605,696 in the last three months. Corporate insiders own 0.06% of the company's stock.

Apple Company 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.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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