LSV Asset Management Reduces Apple Inc. Holdings

LSV Asset Management has reduced its stake in Apple Inc. (NASDAQ:AAPL) by 1.6% in the second quarter, as revealed in its latest 13F filing with the Securities and Exchange Commission (SEC). After selling 2,100 shares during this period, the firm now holds 129,400 shares of the renowned iPhone manufacturer. The value of LSV Asset Management's investment in Apple is approximately $27,254,000 based on its most recent SEC report.

In addition to LSV Asset Management, several other institutional investors have recently adjusted their positions in Apple. For example, Fidelis Capital Partners LLC increased its ownership by 17.9% in the first quarter, now owning 206,455 shares, valued at $35,000 following the acquisition of an additional 31,278 shares. Access Investment Management LLC entered a new position in Apple valued around $140,000 during the first quarter, while Hoese & Co LLP increased its holdings by 6.7% during the second quarter. They now own 912 shares worth $175,000 after purchasing an additional 57 shares. Other firms such as Sage Financial Group Inc. and Benchmark Wealth Management LLC have also acquired new positions in Apple, valued at approximately $206,000 and $208,000 respectively. Overall, institutional investors and hedge funds own 60.41% of Apple’s stock.

Wall Street Analysts Predict Growth for Apple

Several analysts from various financial institutions have recently shared their outlook on AAPL shares. For instance, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a price target of $265.00. Goldman Sachs raised its target price from $265.00 to $275.00 while maintaining a “buy” rating. UBS Group reiterated a “hold” rating with a price target of $236.00. Loop Capital, on the other hand, increased its price target to $300.00 and maintained a “buy” rating. Piper Sandler has a “neutral” rating with a target price of $225.00. In summary, two analysts rated the stock as a sell, eleven suggested holding, twenty-three gave a buy rating, and one analyst has recommended a strong buy. Currently, the stock enjoys an average rating of “Moderate Buy” with an average price target of $235.91 according to MarketBeat data.

Apple's Stock Performance Overview

The opening price for AAPL shares was $231.41 this past Friday. The current market capitalization of Apple stands at $3.55 trillion, accompanied by a P/E ratio of 35.99, a PEG ratio of 2.40, and a beta of 1.24. The 50-day moving average is $226.75, while the 200-day moving average is $209.62. Apple’s stock has seen a 52-week range with a low of $164.07 and a high of $237.49. The company’s quick ratio is 0.91, with a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Recently, Apple reported its quarterly earnings on August 1st, revealing earnings per share (EPS) of $1.40, surpassing analysts’ consensus estimate of $1.34 by $0.06. The company's net margin stands at 26.44%, with a return on equity of 147.15%. Apple’s revenue totaled $85.78 billion, exceeding the expected $84.43 billion. This marks a 4.9% year-on-year increase compared to the same quarter last year. Analysts predict an EPS of 6.65 for Apple Inc. in the current fiscal year.

Apple's Dividend Announcement

Furthermore, the company recently declared a quarterly dividend which was paid on August 15th. Those on record as of August 12th received a dividend of $0.25 per share, marking an annualized dividend of $1.00 and giving a dividend yield of 0.43%. The ex-dividend date was also August 12th, and Apple's current dividend payout ratio is noted to be 15.55%.

Insider Trading Activity

In insider trading news, CEO Timothy D. Cook sold 223,986 shares on October 2nd at an average price of $224.46, totaling approximately $50,275,897.56. After this transaction, Cook retains 3,280,180 shares in the company valued at around $736,269,202.80, which reflects no change in his ownership percentage. This transaction was properly filed with the SEC. Additionally, CFO Luca Maestri sold 59,305 shares on October 4th at an average price of $226.52 for $13,433,768.60. Post-sale, Maestri now owns 107,788 shares valued at $24,416,137.76, also showing no change in their ownership. Over the last 90 days, insiders have sold a total of 517,924 shares worth $114,786,399, with only 0.06% of the stock currently being held by insiders.

Company Overview

Apple Inc., headquartered in Cupertino, California, is a leading technology company that designs, manufactures, and markets a variety of consumer electronics and software. Its product line includes the iPhone, Mac computers, iPad tablets, and other accessories such as AirPods, Apple Watch, and Apple TV.

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