Interchange Capital Partners LLC buys 1,086 shares of Apple Inc. (NASDAQ:AAPL)

VaselineAugust 10, 2024

0 5 minutes read

Interchange Capital Partners LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 6.7% during the first quarter, Holdings Channel reports. The firm owned 17,411 shares of the iPhone maker’s stock after purchasing an additional 1,086 shares during the quarter. Apple makes up 1.9% of Interchange Capital Partners LLC’s investment portfolio, making the stock its 10th largest holding. Interchange Capital Partners LLC’s holdings in Apple were worth $2,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the business. Christopher J. Hasenberg Inc purchased a new stake in Apple in the 1st quarter valued at about $35,000. Gilfoyle & Co LLC boosted its holdings in shares of Apple by 118.0% during 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. grew its position in shares of 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 worth $82,000 after purchasing an additional 368 shares during the period. Finally, Clarity Asset Management Inc. purchased a new stake in shares of Apple in the 4th quarter valued at about $85,000. 60.41% of the shares are owned by institutional investors and hedge funds.

Analysts set new price targets

A number of research analysts recently weighed in on AAPL shares. Oppenheimer upped their target price on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, June 28th. Rosenblatt Securities upped their target price on Apple from $260.00 to $261.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Citigroup boosted their target price on shares of Apple from $210.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Canaccord Genuity Group lifted their price objective on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Itau BBA Securities upgraded Apple from an “underperform” rating to a “market perform” rating and upped their price target for the company from $162.00 to $188.00 in a note of research from Friday, May 3. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. Apple currently has an average rating of “Moderate Buy” and a consensus price target of $234.29, according to MarketBeat .

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Apple stock up 1.4%

Shares of AAPL opened at $216.24 on Friday. The company’s fifty day moving average price is $215.80 and its two hundred day moving average price is $192.04. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23. The company has a current ratio of 1.04, a quick ratio of 0.99, and a debt-to-equity ratio of 1.24. The firm has a market cap of $3.32 trillion, a P/E ratio of 33.63, a PEG ratio of 2.60 and a beta of 1.24.

Apple (NASDAQ:AAPL – Get Your Free Report ) last released its quarterly earnings data 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 net margin of 26.44% and a return on equity of 145.35%. The firm had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. In the same period last year, the business posted earnings per share of $1.26. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts predict that Apple Inc. will post 6.61 EPS for the current fiscal year.

Apple announces dividend

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

Apple announced that its board has approved a stock buyback plan on Thursday, May 2nd that allows 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 plans are usually an indication that the company’s management believes its stock is undervalued.

Indoor activity

In other Apple news, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the transaction, the insider now owns 29,278 shares in the company, valued at $5,574,531.20. The transaction was disclosed in a filing with the SEC, which is accessible via this hyperlink. In other news, insider Chris Kondo sold 4,999 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total value of $951,809.60. Following the completion of the sale, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 179,999 shares of company stock worth $35,964,310. 0.06% of shares are currently held by corporate 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.