Beck Bode LLC Reduces Shares in Apple Inc. (NASDAQ:AAPL)

VaselineAugust 25, 2024

0 5 minutes read

Beck Bode LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 63.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,470 shares of the iPhone maker’s stock after selling 16,779 shares during the quarter. Beck Bode LLC’s holdings in Apple were worth $1,624,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. First City Capital Management Inc. boosted its holdings in Apple by 2.1% in the first quarter. First City Capital Management Inc. now owns 20,547 shares of the iPhone maker’s stock valued at $3,523,000 after acquiring an additional 418 shares during the period. Koesten Hirschmann & Crabtree INC. lifted its position in shares of Apple by 1.9% in the first quarter. Koesten Hirschmann & Crabtree INC. now owns 10,974 shares of the iPhone maker’s stock worth $1,882,000 after purchasing an additional 206 shares in the last quarter. Second Line Capital LLC boosted its stake in Apple by 29.7% in the first quarter. Second Line Capital LLC now owns 22,888 shares of the iPhone maker’s stock valued at $3,925,000 after purchasing an additional 5,244 shares during the period. BigSur Wealth Management LLC boosted its stake in Apple by 72.0% in the first quarter. BigSur Wealth Management LLC now owns 50,983 shares of the iPhone maker’s stock worth $8,743,000 after purchasing an additional 21,350 shares during the period. Finally, Atria Investments Inc raised its holdings in Apple by 2.9% in the first quarter. Atria Investments Inc now owns 492,777 shares of the iPhone maker’s stock worth $84,491,000 after purchasing an additional 14,004 shares in the last quarter. 60.41% of the shares are currently owned by institutional investors and hedge funds.

Apple trading down 0.8%

Apple stock opened at $224.53 on Friday. The company’s fifty day moving average is $220.03 and its two hundred day moving average is $194.13. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99, and a current ratio of 1.04. The company has a market cap of $3.44 trillion, a P/E ratio of 34.92, a PEG ratio of 2.60 and a beta of 1.24.

Want more great investment ideas?

Apple (NASDAQ:AAPL – Get Free Report ) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 145.35% and a net margin of 26.44%. The company’s revenue rose 4.9% year-over-year. In the same quarter last year, the company posted earnings of $1.26 per share. Analysts estimate that Apple Inc. will record 6.61 earnings per share for the current year.

Apple announces dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents an annualized dividend of $1.00 and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, August 12. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Apple declared that its board has authorized a share repurchase program on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to buy up to 3.9% of its shares through open market purchases. Stock buyback programs are often an indication that company management believes its stock is undervalued.

Analysts set new price targets

Several equities analysts have commented on AAPL shares. Melius Research boosted their target price on shares of Apple from $227.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Tigress Financial boosted their target price on Apple from $240.00 to $245.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 30th. Piper Sandler Companies restated a “neutral” rating and issued a $225.00 target price (up previously from $190.00) on shares of Apple in a research report on Tuesday, July 9th. Monness Crespi & Hardt boosted their price objective on Apple from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, TD Cowen boosted their target price on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.63, according to MarketBeat.com.

Get the latest research report on Apple

Insider buying and selling

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the transaction, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this link. In other news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this link. Also, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the transaction, the director now directly owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Insiders have sold a total of 188,884 shares of company stock worth $38,092,387 over the last three months. 0.06% of shares are currently held by company insiders.

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.