Shares of Apple Inc. (NASDAQ:AAPL) sold by Genesee Capital Advisors LLC

VaselineSeptember 17, 2024

0 4 minutes read

Genesee Capital Advisors LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 6.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,477 shares of the iPhone maker’s stock after selling 2,803 shares during the period. Apple accounts for about 4.5% of Genesee Capital Advisors LLC’s holdings, making the stock its 4th biggest holding. Genesee Capital Advisors LLC’s holdings in Apple were worth $9,157,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Wheelhouse Advisory Group LLC purchased a new stake in shares of Apple in the 4th quarter valued at $1,306,000. Knights of Columbus Asset Advisors LLC boosted its stake in Apple by 1.0% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 284,563 shares of the iPhone maker’s stock valued at $54,787,000 after purchasing an additional 2,804 shares during the period. Ninepoint Partners LP boosted its stake in Apple by 19.5% in the 4th quarter. Ninepoint Partners LP now owns 5,553 shares of the iPhone maker’s stock valued at $1,069,000 after purchasing an additional 905 shares during the period. Zhang Financial LLC boosted its stake in Apple by 3.4% in the fourth quarter. Zhang Financial LLC now owns 184,471 shares of the iPhone maker’s stock valued at $35,516,000 after purchasing an additional 6,014 shares during the period. Finally, Roth Financial Partners LLC boosted its stake in Apple by 4.5% in the fourth quarter. Roth Financial Partners LLC now owns 11,565 shares of the iPhone maker’s stock valued at $2,227,000 after buying an additional 501 shares during the period. 60.41% of the shares are owned by institutional investors and hedge funds.

Apple trading down 2.8%

Shares of Apple stock opened at $216.32 on Tuesday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23. The stock has a market cap of $3.32 trillion, a P/E ratio of 33.64, a P/E/G ratio of 2.62 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95, and a debt-to-equity ratio of 1.29. The company’s 50-day moving average is $222.91, and its 200-day moving average is $199.00.

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Apple (NASDAQ:AAPL – Get Free Report ) last announced 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. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. In the same quarter last year, the business posted EPS of $1.26. The company’s revenue 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 fiscal year.

Apple announces dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a $0.25 dividend. This represents a dividend of $1.00 on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Monday, August 12. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Changes in Analyst Ratings

Several research firms have recently commented on AAPL. KeyCorp reissued a “hold” rating and issued a $247.61 price target on shares of Apple in a research note on Wednesday, August 28th. Wedbush reissued an “outperform” rating and issued a $285.00 target price on shares of Apple in a research note on Monday, September 9th. UBS Group lifted their price target on Apple from $190.00 to $236.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Piper Sandler Companies restated a “neutral” rating and set a $225.00 price objective (up from $190.00) on shares of Apple in a research note on Tuesday, July 9th. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 price objective on shares of Apple in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Apple currently has a consensus rating of “Moderate Buy” and an average target price of $239.17, according to MarketBeat .

Check out our latest report on AAPL

Insider activity at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction 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 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 can be accessed via this hyperlink. In other Apple news, insider Chris Kondo sold 8,706 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction 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 transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,884 shares of company stock worth $23,723,887. Company insiders hold 0.06% of the company’s stock.

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.