Greenwich Wealth Management LLC Increases Holdings in Apple Inc.

Greenwich Wealth Management LLC has increased its investment in Apple Inc. (NASDAQ:AAPL) by 0.8% during the third quarter, as indicated by their latest filing with the Securities and Exchange Commission (SEC). Following this acquisition of an additional 1,718 shares, the firm now owns a total of 206,529 shares of the well-known technology company's stock. This positions Apple as 3.2% of Greenwich Wealth Management LLC's overall investment portfolio, ranking it as the sixth-largest position within their holdings, valued at approximately $48,121,000 based on their most recent filing.

In addition to Greenwich Wealth Management LLC, several other institutional investors and hedge funds have also adjusted their positions in Apple. Fullcircle Wealth LLC increased its stake by 1.2% during the third quarter, now owning 26,597 shares valued at $6,208,000 after purchasing an additional 312 shares. Similarly, BluePath Capital Management LLC raised its investment by 2.5%, acquiring 14,430 shares worth $3,362,000, thanks to an additional purchase of 352 shares. Visionary Horizons LLC also saw a 4.0% boost in its stake, now holding 5,125 shares valued at $1,194,000 after adding 196 shares. Chicago Partners Investment Group LLC raised its stake by 1.4%, now owning 241,004 shares worth $55,614,000 following an acquisition of 3,275 shares. Lastly, Phillips Wealth Planners LLC increased their holdings by 4.7%, owning 5,681 shares valued at $1,317,000 after buying 255 additional shares. Overall, institutional investors now hold 67.73% of Apple’s stock.

Current Market Performance

As of Friday, Apple’s stock opened at $243.36, reflecting a slight drop of 0.2%. Over the past year, the stock has seen a low of $164.07 and a high of $260.10. The company's market capitalization stands at $3.68 trillion, featuring a price-to-earnings (P/E) ratio of 40.03 and a price-to-earnings growth (P/E/G) ratio of 2.41. Apple’s beta is 1.20, suggesting relative volatility in the market. The company’s moving averages are also noteworthy, with a 50-day moving average price of $238.91 and a 200-day moving average price of $228.87. In terms of financial ratios, Apple has a quick ratio of 0.83, a current ratio of 0.87, and a debt-to-equity ratio of 1.51.

Quarterly Earnings Report

Apple last reported its quarterly earnings on October 31st, revealing earnings per share (EPS) of $1.64 for the quarter, surpassing the consensus estimate of $1.60 by $0.04. The revenue for the quarter was $94.93 billion, exceeding analysts' expectations of $94.52 billion. The firm achieved a remarkable return on equity of 152.94%, alongside a net profit margin of 23.97%. Compared to the previous year, Apple’s quarterly revenue showed a 6.1% increase, with the previous year’s EPS at $1.46. Analysts are projecting an EPS of 7.43 for Apple Inc. for the current year.

Dividend Announcement

Recently, Apple disclosed a quarterly dividend of $0.25 per share, which was paid to shareholders of record on November 11th. The ex-dividend date for this payment was November 8th. This indicates an annualized dividend yield of 0.41%, with a total annual dividend payout of $1.00. At present, Apple’s dividend payout ratio stands at 16.45%, reflecting the company's policy on returning profits to shareholders.

Analyst Ratings and Projections

Wall Street analysts have been active in reassessing their ratings on Apple shares. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a report published on November 1st. Meanwhile, Morgan Stanley maintained an “overweight” rating, setting a target price of $273.00 on Apple shares in a research note released on December 13th. Citigroup also raised their price target for Apple to $185.00, issuing a “buy” rating on October 23rd. Additionally, Wells Fargo & Company have increased their price objective on Apple shares to $275.00 and reiterated a “buy” rating in a report dated December 9th. Rosenblatt Securities has also slightly revised their target price from $261.00 to $262.00, maintaining their “buy” rating. In total, two investment analysts have suggested a sell rating, twelve have a hold rating, twenty-three have issued a buy rating, and one has designated their opinion as a strong buy. As per MarketBeat.com, the average rating currently stands at “Moderate Buy,” coupled with an average target price of $238.03.

Insider Trading Activities

There have also been some notable insider trading activities. COO Jeffrey E. Williams sold 100,000 shares of Apple on December 16th, with the transactions priced at an average of $249.97, totaling around $24,997,000. Following this sale, he now holds 389,944 shares valued at approximately $97,474,301.68, marking a 20.41% drop in his ownership. The details of this transaction can be found in the SEC filings. Another insider, Chris Kondo, sold 4,130 shares on November 18th, at an average price of $228.87, resulting in a total value of $945,233.10. Post-sale, Kondo retains 15,419 shares worth about $3,528,946.53. Corporate insiders currently own a mere 0.06% of the company’s stock.

About Apple Inc.

Apple Inc. is a leading technology company that designs, manufactures, and sells a variety of products, including smartphones, personal computers, tablets, wearables, and other accessories. Their well-known product lines feature the iPhone, Mac computers, iPads, as well as various wearables such as the Apple Watch and AirPods, contributing significantly to their global market presence.

Apple, Investment, Stock