Heritage Family Offices LLP Sells 730 Shares of Apple Inc. (NASDAQ:AAPL)

Heritage Family Offices LLP made adjustments to its investment in Apple Inc. (NASDAQ:AAPL) during the third quarter, reducing its holdings by approximately 4.6%. Following the sale of 730 shares, the firm now holds 15,084 shares of Apple. This stock represents about 1.8% of Heritage Family Offices LLP’s overall investment portfolio, indicating that Apple is one of their significant holdings, being the 10th largest position. As of the latest reporting period, Heritage Family Offices LLP's investment in Apple is valued at $3,515,000.

Meanwhile, several other institutional investors have also changed their stakes in Apple. For instance, Dimensional Fund Advisors LP raised its investment by 5.5% in the second quarter, acquiring an additional 2,785,807 shares. Currently, they own a total of 52,981,808 shares, worth approximately $11.16 billion. Similarly, Ameriprise Financial Inc. increased their shares by 6.7%, while Capital International Investors and American Century Companies Inc. also raised their positions by 7.1% and 3.2%, respectively. Moreover, Swedbank AB augmented its stake by 13.4%. Overall, institutional investors and hedge funds control about 60.41% of Apple’s shares.

Apple Stock Performance

On a recent trading day, Apple’s stock opened at $242.84. The company's market capitalization currently stands at $3.67 trillion, with a P/E ratio of 39.94 and a PEG ratio of 2.38. Apple has a beta of 1.23, indicating its volatility compared to the market. The 50-day moving average for Apple’s stock is $230.53, while the 200-day moving average is $221.62. Over the past year, the stock recorded a low of $164.07 and a high of $244.63.

Apple recently released its quarterly earnings, revealing earnings of $1.64 per share, surpassing analyst expectations of $1.60. The company reported revenue of $94.93 billion, which exceeded estimates of $94.52 billion. Apple achieved a net margin of 23.97% and a remarkable return on equity of 152.94%. Year-over-year, the company's revenue increased by 6.1%. Analysts forecast an EPS of 7.43 for Apple for the current year.

Dividend Declaration from Apple

In addition to its strong earnings report, Apple also declared a quarterly dividend, which was distributed on November 14th. Shareholders on record as of November 11th received a dividend of $0.25 per share, amounting to an annualized dividend of $1.00 and a yield of 0.41%. Currently, Apple's dividend payout ratio is 16.45%.

Insider Transactions at Apple

In recent developments, Apple’s CEO, Timothy D. Cook, sold 223,986 shares of the company on October 2nd for around $50.3 million, decreasing his ownership by 6.39%. After this transaction, he holds 3,280,180 shares worth approximately $736.27 million. Additionally, SVP Katherine L. Adams sold 61,019 shares in the same period, reducing her stake by 24.60%. Over the last quarter, insiders have sold a total of 408,170 shares, totaling around $92 million. Insiders currently own only 0.06% of Apple shares.

Recent Analyst Ratings for Apple

Analysts have recently updated their ratings on Apple. Morgan Stanley reaffirmed an “overweight” rating with a price target of $273.00. Meanwhile, Jefferies Financial Group downgraded Apple from “buy” to “hold” but increased its price target to $212.92. Bank of America has a price target of $256.00 while Citigroup set theirs at $185.00. Loop Capital also adjusted its price target down from $300.00 to $275.00, maintaining a “buy” rating. The overall consensus among analysts is a “Moderate Buy” rating with an average price target set at $235.68. Interestingly, the sentiments vary as two analysts have issued sell ratings, twelve rated it as hold, and twenty-two offered buy ratings.

Overview of Apple Inc.

Apple Inc. designs, manufactures, and markets a wide array of products including smartphones, personal computers, tablets, and accessories globally. Some of their well-known product lines include the iPhone, Mac computers, and iPad tablets, along with wearables and home devices such as AirPods and Apple Watch.

Apple, Investment, Dividends