SageView Advisory Group LLC sells 21,072 shares of Apple Inc. (NASDAQ:AAPL)

VaselineAugust 10, 2024

0 5 minutes read

SageView Advisory Group LLC reduced its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 11.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 166,193 shares of the iPhone maker’s stock after selling 21,072 shares during the quarter. Apple makes up about 1.4% of SageView Advisory Group LLC’s investment portfolio, making the stock its 16th biggest position. SageView Advisory Group LLC’s holdings in Apple were worth $28,499,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc bought a new stake in Apple in the 1st quarter valued at about $35,000. Gilfoyle & Co LLC boosted its holdings in Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after acquiring an additional 118 shares during the period. AP Gilfoyle & Co. LP bought a new position in shares of Apple in the fourth quarter valued at about $39,000. University of Texas Texas AM Investment Management Co. raised its stake in Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after buying an additional 368 shares during the period. Finally, Clarity Asset Management Inc. purchased a new position in Apple during the 4th quarter valued at approximately $85,000. Institutional investors own 60.41% of the company’s shares.

Insider buying and selling

In related news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a filing with the SEC, which is accessible via this link. In related news, insider Chris Kondo sold 4,999 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the sale, the insider now owns 29,278 shares of the company’s stock, valued at approximately $5,574,531.20. The transaction was disclosed in a filing with the SEC, which is available via this link. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold a total of 179,999 shares of company stock valued at $35,964,310. Company insiders own 0.06% of the company’s shares.

Apple stock up 1.4%

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NASDAQ AAPL opened at $216.24 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.04, and a debt-to-equity ratio of 1.24. Apple Inc. it has a 52-week low of $164.07 and a 52-week high of $237.23. The stock’s 50-day moving average price is $215.80 and its 200-day moving average price is $192.04. The company has a market cap of $3.32 trillion, a P/E ratio of 33.63, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24.

Apple (NASDAQ:AAPL – Get Free Report ) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 145.35% and a net margin of 26.44%. The firm had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. In the same quarter last year, the business earned $1.26. The company’s quarterly revenue was up 4.9% year over year. On average, equities research analysts predict that Apple Inc. will post 6.61 earnings per share for the current year.

Apple declared that its board has initiated a stock buyback program on Thursday, May 2nd that permits the company to repurchase $110.00 billion in outstanding shares. This buyback authorization allows the iPhone maker to buy back up to 3.9% of its shares through open market purchases. Stock buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Apple announces dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 12th will be issued a $0.25 dividend. This represents a dividend of $1.00 on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, August 12. Apple’s dividend payout ratio is currently 15.55%.

Analysts on Wall Street are forecasting an increase

AAPL has been the subject of a number of research analyst reports. Canaccord Genuity Group boosted their target price on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Rosenblatt Securities boosted their price objective on Apple from $260.00 to $261.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Raymond James boosted their price target on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. DA Davidson raised Apple from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $200.00 to $230.00 in a report on Tuesday, June 11th. Finally, Piper Sandler upped their target price on Apple from $190.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average price target of $234.29.

Get the latest stock report on AAPL

Apple profile

(Free Report)

Apple Inc designs, manufactures and markets smartphones, personal computers, tablets, wearable devices and accessories worldwide. The company offers the iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multifunction tablets; and wearables, home and accessories including AirPods, Apple TV, Apple Watch, Beats products and HomePod.