Evexia Wealth LLC Reduces Holdings in Apple Inc.

Evexia Wealth LLC has recently adjusted its investment in Apple Inc. (NASDAQ:AAPL). According to the latest reports, the company has decreased its stock holdings by 3.0% during the second quarter. Following this change, Evexia Wealth LLC now owns a total of 55,711 shares of Apple after selling 1,715 shares in the past quarter. Apple's stock represents roughly 3.4% of Evexia Wealth LLC's total portfolio, positioning it as their fifth-largest investment. As of the most recent filings with the SEC, the market value of Evexia Wealth's stake in Apple stands at approximately $12,477,000.

Several institutional investors have also made adjustments to their shares of Apple recently. Vanguard Group Inc. increased its holding by 1.4% in the fourth quarter, acquiring an additional 18,067,216 shares to bring their total to 1,318,064,349 shares, valued at roughly $253.77 billion. Additionally, Swedbank AB purchased new shares worth approximately $3.03 billion in the first quarter. Global Assets Advisory LLC saw a significant increase, with their position growing by 23,076.4% during the same period, now holding 9,240,214 shares worth around $1.58 billion. The Canada Pension Plan Investment Board also boosted its stake in Apple by 158.3%, acquiring an additional 7,067,379 shares, which brings their total shares to 11,532,438, valued at about $1.98 billion. In the first quarter, Lazard Asset Management LLC similarly raised its position in Apple by 161.2%, purchasing 5,405,542 additional shares, now totaling 8,759,445 shares worth approximately $1.5 billion. Overall, institutional investors make up 60.41% of Apple’s stock ownership.

Analysts Ratings on Apple

In the recent weeks, various equity analysts have shared their perspectives on Apple’s stock. Piper Sandler maintained a “neutral” rating with a price target of $225.00. Following this, Bank of America held a “buy” rating with a price objective set at $256.00. Cfra raised their price target from $240.00 to $260.00, giving Apple a “buy” rating in their report. Analysts at JPMorgan Chase & Co. expressed an “overweight” rating, proposing a price point of $265.00. Evercore ISI also reiterated a “buy” rating, with a target of $250.00. Current market data indicates that one analyst rates the stock as a sell, thirteen suggest holding, twenty-two recommend buying, and one has given it a strong buy rating. According to MarketBeat.com, Apple has an average rating characterized as “Moderate Buy,” with an average price target of $239.27.

Apple's Stock Performance

As for Apple's stock performance, shares of AAPL began trading at $227.55 recently. The company's stock currently has a one-year range, hitting a low of $164.07 and a high of $237.23. The 50-day moving average is reported at $223.62, while its 200-day moving average stands at $205.95. Apple's market capitalization is approximately $3.49 trillion, with a P/E ratio of 35.39 and a PEG ratio of 2.40. Moreover, the stock has a beta of 1.24 and a debt-to-equity ratio of 1.29, alongside a current ratio of 0.95 and a quick ratio of 0.91.

On August 1st, Apple announced its quarterly earnings, reporting earnings of $1.40 per share, surpassing the consensus estimate of $1.34. The company also revealed a return on equity of 147.15% and a net margin of 26.44%. Revenue for the quarter totaled $85.78 billion, exceeding forecasted expectations of $84.43 billion, representing a growth of 4.9% compared to the same quarter last year. Analysts predict that Apple will report earnings of 6.65 per share for the current fiscal year.

Dividend Information

Recently, Apple declared a quarterly dividend of $0.25 per share, which was paid out on August 15th. This translates to an annualized dividend of $1.00, giving a yield of 0.44%. The ex-dividend date for this distribution was August 12th, and the current dividend payout ratio is noted at 15.55%.

Insider Trading at Apple

In related insider activities, Senior Vice President Katherine L. Adams sold 100,000 shares of Apple stock on August 5th for an average price of $206.44, totaling approximately $20.64 million. Post-transaction, Adams holds about 191,543 shares valued at around $39.54 million. Additionally, CEO Timothy D. Cook sold 223,986 shares on October 2nd, at an average price of $224.46, amounting to roughly $50.28 million. After this sale, he retains ownership of about 3,280,180 shares valued at approximately $736.27 million. In the past ninety days, insiders have sold approximately 517,924 shares of Apple stock worth around $114.79 million. Currently, corporate insiders own about 0.06% of the company's stock.

About Apple Inc.

Apple Inc. is a globally recognized technology company that designs, manufactures, and markets a range of consumer electronics including smartphones, personal computers, tablets, wearables, and various accessories. The product line includes the iPhone, Mac computers, iPad tablets, and wearables such as the Apple Watch and AirPods.

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