Baxter Bros Inc. decreases the stock position at Apple Inc. (NASDAQ:AAPL)

VaselineSeptember 8, 2024

0 5 minutes read

Baxter Bros Inc. reduced its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 7.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,924 shares of the iPhone maker’s stock after selling 3,135 shares during the period. Apple makes up 1.1% of Baxter Bros Inc.’s investment portfolio, making the stock its 23rd biggest position. Holdings held by Baxter Bros Inc. holdings in Apple were worth $8,619,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Intergy Private Wealth LLC grew its position in shares of Apple by 3.2% in the second quarter. Intergy Private Wealth LLC now owns 13,087 shares of the iPhone maker’s stock valued at $2,756,000 after buying an additional 401 shares during the period. Voisard Asset Management Group Inc. raised its holdings in Apple by 5.0% during the 2nd quarter. Voisard Asset Management Group Inc. now owns 7,824 shares of the iPhone maker’s stock valued at $1,648,000 after acquiring an additional 376 shares during the period. First Community Trust NA boosted its holdings in Apple by 2.0% in the second quarter. First Community Trust NA now owns 59,383 shares of the iPhone maker’s stock valued at $12,507,000 after acquiring an additional 1,169 shares during the period. Cooper Financial Group boosted its holdings in shares of Apple by 2.3% in the second quarter. Cooper Financial Group now owns 144,278 shares of the iPhone maker’s stock worth $30,388,000 after acquiring an additional 3,286 shares during the period. Finally, Emerald Advisors LLC grew its position in shares of Apple by 2.1% in the second quarter. Emerald Advisors LLC now owns 20,478 shares of the iPhone maker’s stock valued at $4,313,000 after purchasing an additional 430 shares in the last quarter. Institutional investors own 60.41% of the company’s shares.

Insider activity at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was 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 in the company, valued at approximately $39,542,136.92. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Katherine L. Adams sold 100,000 shares of the business’s 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 completion of 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 available via this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock worth $23,723,887 in the last 90 days. Company insiders own 0.06% of the company’s shares.

Analysts set new price targets

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AAPL has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Apple from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Apple in a report on Monday, August 5th. Tigress Financial boosted their target price on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. DA Davidson upgraded shares of Apple from a “neutral” rating to a “buy” rating and upped their price target for the company from $200.00 to $230.00 in a research report on Tuesday, June 11th . Finally, TD Cowen boosted their price objective on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $238.62.

Read the latest stock report on AAPL

Apple stock performance

NASDAQ:AAPL opened at $220.82 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91, and a current ratio of 0.95. Apple Inc. it has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The firm has a market cap of $3.39 trillion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24. The company has a 50-day moving average price of $223.09 and a 200-day moving average price of $197.26.

Apple (NASDAQ:AAPL – Get Free Report ) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. In the same quarter last year, the company posted EPS of $1.26. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equity research analysts predict that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Dividend Announcement

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

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.