Evexia Wealth LLC Holds $12.48 Million in Apple Inc. Shares

Evexia Wealth LLC has recently adjusted its stock portfolio, reducing its holdings in Apple Inc. (NASDAQ:AAPL) by 3.0% during the second quarter. According to the latest report, the firm now owns a total of 55,711 shares of Apple after selling 1,715 shares in the quarter. This investment accounts for approximately 3.4% of Evexia Wealth LLC’s overall portfolio, making Apple the firm’s fifth largest investment. The value of Evexia’s holdings in Apple is reported to be $12,477,000 based on their most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors are also adjusting their stakes in Apple. Vanguard Group Inc. has increased its holdings by 1.4% during the fourth quarter, now owning over 1.3 billion shares valued at approximately $253.77 billion following the purchase of an additional 18,067,216 shares. Meanwhile, Swedbank AB established a significant new position in Apple valued at around $3.03 billion in the first quarter. Global Assets Advisory LLC made notable adjustments as well, increasing its stake by a staggering 23,076.4% gaining 9,240,214 shares worth about $1.58 billion after acquiring an additional 9.2 million shares. Canada Pension Plan Investment Board, too, raised its position by 158.3%, now holding 11,532,438 shares worth nearly $1.98 billion after buying an additional 7,067,379 shares. Lazard Asset Management LLC has also expanded its holdings in Apple by 161.2% during the first quarter. Currently, institutional investors collectively own 60.41% of Apple’s shares.

Analyst Perspectives

In the investment community, analysts have been providing various ratings and price targets for Apple shares. Piper Sandler reiterated a “neutral” rating with a price target of $225.00 in a recent report. On the other hand, Bank of America maintained a “buy” rating, placing a price target of $256.00. Cfra raised its price target from $240.00 to $260.00 and gave the company a “buy” rating. JPMorgan Chase & Co. expressed an “overweight” stance on the stock with a target of $265.00, while Evercore ISI matched this sentiment with a “buy” rating and a $250.00 price target. Overall, one analyst rated the stock a “sell,” thirteen recommended a hold, while twenty-two analysts suggested it as a buy, and one assigned a strong buy rating. Based on data from MarketBeat.com, Apple currently holds a consensus rating of “Moderate Buy” with an average price target of $239.27.

Apple's Recent Stock Performance

Current Stock Details

As of Friday, Apple Inc. shares opened at $227.55. The stock has seen fluctuations in the past year, hitting a low of $164.07 and a high of $237.23. The moving averages stand at $223.62 for 50 days and $205.95 for 200 days. Apple’s market capitalization is about $3.49 trillion, with a P/E ratio of 35.39. The company also presents a PEG ratio of 2.40 and beta of 1.24, alongside a debt-to-equity ratio of 1.29. Its liquidity ratios are a current ratio of 0.95 and a quick ratio of 0.91.

Quarterly Earnings Report

Apple Inc. disclosed its latest quarterly earnings results on August 1st, reporting earnings of $1.40 per share that exceeded analysts' expectations of $1.34 by $0.06. The company’s return on equity stood impressively at 147.15%, and it recorded a net margin of 26.44%. Apple achieved revenue of $85.78 billion in the quarter, surpassing the consensus estimate of $84.43 billion. In comparison to the same quarter of the previous year, Apple’s earnings per share increased from $1.26, marking a 4.9% year-over-year revenue rise. Analysts predict an earnings per share of 6.65 for the current fiscal year.

Dividend Declaration

Recently, Apple declared a quarterly dividend that was paid on August 15th, to shareholders of record dated August 12th, with a dividend of $0.25 per share. This translates to an annualized dividend of $1.00, yielding approximately 0.44%. The ex-dividend date for this payment was also August 12th. Presently, Apple’s dividend payout ratio is at 15.55%.

Insider Transactions

In corporate actions, SVP Katherine L. Adams sold 100,000 shares of Apple stock on August 5th at an average price of $206.44, amounting to a total transaction value of about $20.64 million. After this sale, she continues to hold 191,543 shares valued at roughly $39.54 million. Additionally, CEO Timothy D. Cook sold 223,986 shares on October 2nd for approximately $50.28 million, maintaining ownership of 3,280,180 shares valued at around $736.27 million after the transaction. Over the past ninety days, insiders have collectively sold 517,924 shares totaling $114.79 million, with corporate insiders owning about 0.06% of the stock.

Apple Company Overview

Apple Inc. is a global leader in designing, manufacturing, and marketing a wide array of technology products, including smartphones, personal computers, tablets, wearables, and various accessories. Its flagship products include the iPhone, Mac computers, iPad tablets, as well as accessories like AirPods, Apple TV, Apple Watch, Beats, and the HomePod.

Considerations for Investors

As investment information continues to develop, several resources offer further insights into the performance of stocks like Apple. Investors can explore alternative stocks, investment strategies, insider activities, and recent market trends to make informed decisions. Knowledge is key for smart investing.

Evexia, Apple, Investment