LRI Investments LLC invested $5.93 million in Apple Inc. (NASDAQ:AAPL)

VaselineAugust 25, 2024

0 5 minutes read

LRI Investments LLC bought a new position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) in the first quarter, Holdings Channel reports. The fund purchased 34,567 shares of the iPhone maker’s stock, valued at approximately $5,927,000. Apple makes up 0.9% of LRI Investments LLC’s investment portfolio, making the stock its 14th biggest position.

Several other hedge funds have also modified their holdings of AAPL. Better Money Decisions LLC raised its stake in Apple by 2.8% during the 4th quarter. Better Money Decisions LLC now owns 18,057 shares of the iPhone maker’s stock valued at $3,477,000 after purchasing an additional 499 shares during that period. Howland Capital Management LLC raised its position in Apple by 0.7% during the fourth quarter. Howland Capital Management LLC now owns 359,991 shares of the iPhone maker’s stock valued at $69,309,000 after purchasing an additional 2,488 shares during the period. Clay Northam Wealth Management LLC boosted its stake in Apple by 1.1% in the 4th quarter. Clay Northam Wealth Management LLC now owns 57,409 shares of the iPhone maker’s stock worth $11,053,000 after acquiring an additional 648 shares during the last quarter. BetterWealth LLC boosted its position in Apple by 0.7% during the 4th quarter. BetterWealth LLC now owns 153,368 shares of the iPhone maker’s stock worth $29,528,000 after acquiring an additional 1,129 shares during the period respective. Finally, North Point Portfolio Managers Corp OH grew its stake in Apple by 5.7% during the 4th quarter. North Point Portfolio Managers Corp OH now owns 4,811 shares of the iPhone maker’s stock, valued at 926,000 $ after acquiring an additional 258 shares in the last quarter. 60.41% of the shares are held by hedge funds and other institutional investors.

The Wall Street analyst weighs in

A number of analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Cfra lifted their target price on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. DA Davidson upgraded shares of Apple from a “neutral” rating to a “buy” rating and upped their target price for the company from $200.00 to $230.00 in a report on Tuesday, June 11th. StockNews.com upgraded Apple from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, Goldman Sachs Group boosted their price target on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. Apple presently has an average rating of “Moderate Buy” and a consensus price target of $233.63, according to data from MarketBeat.

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Indoor activity

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 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 $835,207,570.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. In other news, Director Arthur D. Levinson sold 75,000 shares of the stock in a transaction that occurred on 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 completion of 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 legal filing with the SEC, which is available at this link. Also, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction on Friday, August 9th. The shares were 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 in the company, valued at approximately $5,223,062.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 188,884 shares of company stock worth $38,092,387. Corporate insiders own 0.06% of the company’s shares.

Apple trading down 0.8%

Shares of AAPL stock opened at $224.53 on Friday. The stock’s 50-day moving average price is $220.03 and its 200-day moving average price is $194.13. The company has a quick ratio of 0.99, a current ratio of 1.04, and a debt-to-equity ratio of 1.24. The firm has a market cap of $3.44 trillion, a price-to-earnings ratio of 34.92, a P/E/G ratio of 2.60 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23.

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

Apple Dividend Announcement

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

Apple declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This buyback authorization allows the iPhone maker to buy up to 3.9% of its shares through open market purchases. Stock buyback plans are often a sign that company management believes its stock is undervalued.

About Apple

(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.