Apple Inc. (NASDAQ:AAPL) has recently been in the spotlight as institutional investors adjust their holdings and analysts weigh in on the tech giant’s stock. According to the latest 13F filing with the Securities and Exchange Commission, Eagle Ridge Investment Management reduced its stake in Apple by 1.9% during the fourth quarter, ending the period with 49,520 shares valued at approximately $12.4 million after selling 965 shares. This move reflects a broader trend among hedge funds as they navigate the current market landscape.
Other institutional investors have also been active in the Apple stock market. Citrine Capital LLC made a new investment in Apple worth $801,000, while Rik Saylor Financial Inc. acquired a position valued at about $2.5 million. Oakworth Capital Inc. slightly increased its holdings by 0.3%, now owning 207,934 shares worth $52.1 million after purchasing an additional 663 shares. McHugh Group LLC and Buck Wealth Strategies LLC also made notable moves, with Buck Wealth increasing its position by 26.8%, now holding 59,873 shares valued at $15 million. Overall, institutional investors and hedge funds collectively own 67.73% of Apple’s stock, indicating strong confidence in the company.
In addition to institutional activity, analysts have recently upgraded their ratings on Apple. Argus raised its rating to a “strong buy,” while Rosenblatt Securities reiterated a “buy” rating with a price target of $263. Sanford C. Bernstein also increased its target price from $240 to $260, giving Apple an “outperform” rating. Wedbush maintained an “outperform” rating with a more ambitious price target of $325. Despite some analysts issuing sell ratings, the consensus rating for Apple remains a “Moderate Buy,” with a target price of $245.26, according to MarketBeat.com.
As of Monday, Apple shares opened at $188.38, reflecting a 7.3% decline. The company boasts a market capitalization of $2.83 trillion, a price-to-earnings (P/E) ratio of 29.90, and a P/E/G ratio of 2.44. Apple’s stock has seen a 52-week low of $164.08 and a high of $260.10, showcasing its volatility in the current market environment. The company’s financial health is further illustrated by its current ratio of 0.92, quick ratio of 0.88, and a debt-to-equity ratio of 1.26.
Apple recently reported its earnings for the quarter ending January 30, posting an earnings per share (EPS) of $2.40, surpassing the consensus estimate of $2.36. The company achieved a remarkable return on equity of 160.83% and a net margin of 24.30%. Analysts predict that Apple will post an EPS of 7.28 for the current fiscal year, indicating continued growth potential.
In addition to its financial performance, Apple declared a quarterly dividend of $0.25, which was paid on February 13. This translates to an annualized dividend of $1.00, yielding 0.53%. The company’s dividend payout ratio stands at 15.87%, reflecting its commitment to returning value to shareholders.
However, insider activity has raised eyebrows, as senior vice president Katherine L. Adams sold 38,822 shares for approximately $8.68 million, and CEO Timothy D. Cook sold 108,136 shares valued at around $24.18 million. These transactions represent a decrease in their ownership stakes, with insiders selling a total of 182,451 shares worth $40.82 million over the past three months.
In conclusion, Apple Inc. is navigating a complex landscape of institutional adjustments, analyst upgrades, and insider sales. As the company continues to innovate and expand its market presence, investors will be keenly watching how these factors influence its stock performance in the coming months.
