Hexagon Capital Partners LLC Reduces Stake in Apple Inc.

Hexagon Capital Partners LLC has slightly reduced its investment in Apple Inc. (NASDAQ:AAPL) by 0.2% during the third quarter, as reported in the latest Form 13F filing with the Securities and Exchange Commission. After selling 147 shares, the fund now holds 67,750 shares of the tech giant's stock, which constitutes approximately 3.1% of Hexagon's total portfolio. The value of the holdings in Apple is reported to be around $15.79 million.

Other institutional investors have also recently adjusted their positions in Apple. CWM LLC increased its stake by 3.6% and now owns 2,071,727 shares worth $482.71 million, following an acquisition of an additional 71,463 shares. Similarly, O Connor Financial Group LLC raised its stake by 1.8%, owning 3,537 shares valued at $824,000 after purchasing 61 more shares. West Financial Advisors LLC added 418 shares, boosting its holdings by 3.2% for a total of 13,630 shares worth $3.18 million.

In a notable increase, Gunderson Capital Management Inc. raised its position in Apple by 50%, acquiring 2,331 additional shares to reach a total of 6,993 shares valued at approximately $1.63 million. Beacon Wealthcare LLC also increased its stake by 4.8%, now holding 5,304 shares worth around $1.24 million. Overall, around 60.41% of Apple's stock is owned by hedge funds and various institutional investors.

Apple Stock Performance

As of Wednesday, Apple shares opened at $235.06. The stock has demonstrated a 50-day moving average price of $228.43 and a 200-day moving average price of $219.01. Over the past year, Apple’s shares have fluctuated between a low of $164.07 and a high of $237.49. The company sports a market capitalization of $3.55 trillion and has a price-to-earnings ratio of 38.66.

Recently, Apple announced its earnings on October 31st, revealing an EPS of $1.64 for the quarter, surpassing the anticipated $1.60. The company reported a net margin of 23.97%, with revenues of $94.93 billion compared to expectations of $94.52 billion. The quarterly revenue showed a 6.1% increase compared to the same period last year, with analysts forecasting an EPS of 7.43 for the current fiscal year.

Dividend Update

Apple has also declared a quarterly dividend, which was distributed on November 14th to shareholders recorded as of November 11th. Each investor received a dividend of $0.25, leading to an annualized dividend of $1.00 and a yield of 0.43%. The ex-dividend date was set for November 8th, and the company's current dividend payout ratio stands at 16.45%.

Insider Trading Activity

In terms of insider trading, Apple’s Senior Vice President Katherine L. Adams sold 61,019 shares on October 2nd at an average price of $226.20, totaling approximately $13.8 million. Following this sale, she retains 187,043 shares, valued at around $42.31 million. Additionally, CEO Timothy D. Cook sold 223,986 shares on the same date for about $50.28 million, reducing his holdings by 6.39% to about 3.28 million shares valued at nearly $736.27 million. Recent trades have shown that insiders sold a total of 408,170 shares worth approximately $92 million, with 0.06% of the company's stock held by insiders.

Analyst Recommendations

Many analysts have provided updated ratings on Apple shares. Monness Crespi & Hardt maintained a "buy" rating and set a target price of $245.00. In contrast, StockNews.com downgraded Apple’s rating from "buy" to "hold." Piper Sandler also reaffirmed a "neutral" stance with a price target of $225.00, while Moffett Nathanson decreased its price objective from $211.00 to $202.00. Meanwhile, Bank of America kept a "buy" rating with a price target of $256.00. Currently, two analysts recommend selling the stock, twelve suggest holding, twenty-two advocate buying, and one suggests a strong buy. The general consensus rating is a “Moderate Buy” with a target price of $235.25.

Apple Overview

Apple Inc. is recognized for designing, manufacturing, and marketing products such as smartphones, personal computers, tablets, wearables, and various accessories globally. The key products include the iPhone, Mac computers, the iPad, and a range of wearables like the Apple Watch and AirPods.

Apple, Investment, Stocks