Heritage Family Offices LLP Sells 730 Shares of Apple Inc. (NASDAQ:AAPL)

Heritage Family Offices LLP has made adjustments to its investment in Apple Inc. (NASDAQ:AAPL) by reducing its holdings by 4.6% during the third quarter of the year. Following the sale of 730 shares, the firm now retains a total of 15,084 shares in the tech giant. Apple constitutes about 1.8% of Heritage Family Offices LLP’s investment portfolio, positioning it as the 10th largest asset in their holdings. At the conclusion of the most recent reporting period, these shares were valued at approximately $3,515,000.

Throughout recent months, several institutional investors have also altered their positions in Apple. For instance, Dimensional Fund Advisors LP increased its stake by 5.5% during the second quarter, now holding 52,981,808 shares valued at about $11.16 billion after acquiring an extra 2,785,807 shares. Similarly, Ameriprise Financial Inc. raised its investment in Apple by 6.7% in the same quarter, with a total of 51,765,589 shares worth approximately $10.91 billion after adding 3,245,281 shares. Capital International Investors also grew its stake by 7.1% during the first quarter, owning 37,146,325 shares valued at around $6.37 billion. Other firms like American Century Companies Inc. and Swedbank AB have likewise increased their shares in Apple, reflecting the stock's continued appeal among institutional investors. Currently, institutional investors hold about 60.41% of Apple’s total outstanding shares.

Apple Price Performance

The stock's performance has been notable, with AAPL opening at $242.84 recently. The company's market capitalization stands at $3.67 trillion, with a price-to-earnings ratio of 39.94 and a PEG ratio of 2.38, indicating moderate growth. Apple's beta is 1.23, reflecting its volatility in relation to the market. Investors have noted a debt-to-equity ratio of 1.51, alongside a quick ratio of 0.83 and a current ratio of 0.87. Over the past year, Apple shares have seen a low of $164.07 and a peak of $244.63.

In its latest earnings report released on October 31st, Apple reported earnings of $1.64 per share, which exceeded analyst expectations of $1.60. The company's revenue for the quarter was $94.93 billion, surpassing forecasts of $94.52 billion, indicating a year-over-year revenue growth of 6.1% compared to $1.46 earnings per share from the previous year. Analysts project that Apple will achieve an EPS of 7.43 for the current fiscal year.

Apple Dividend Announcement

Recently, Apple declared a quarterly dividend of $0.25 per share, which was paid on November 14th. This dividend translates to an annualized payout of $1.00, yielding 0.41%. Currently, Apple's dividend payout ratio is 16.45%, affirming its strategy to return value to shareholders.

Insider Transactions

On another note, there have been significant insider transactions at Apple. CEO Timothy D. Cook sold 223,986 shares on October 2nd at an average price of $224.46, totaling about $50.28 million. Post this sale, he still owns 3,280,180 shares, valued at roughly $736.27 million. Additionally, Senior Vice President Katherine L. Adams sold 61,019 shares on the same date for approximately $13.80 million, resulting in a reduction of her ownership by 24.6%. In total, insiders sold 408,170 shares worth around $92 million in the last quarter, with company insiders holding about 0.06% of the stock.

Analyst Ratings Updates

Moving on to analyst perspectives, several experts have recently issued new ratings for Apple. Morgan Stanley maintained an "overweight" rating, setting a price target of $273.00. Jefferies Financial Group downgraded Apple from a “buy” to a “hold” rating, adjusting their price target from $205.00 to $212.92. Meanwhile, Bank of America increased its price objective to $256.00 alongside a “buy” rating. Similarly, Citigroup raised its target to $185.00, confirming a “buy” stance. Lastly, Loop Capital reduced its price target from $300.00 to $275.00 while keeping a “buy” recommendation. The overall analyst consensus currently shows an average rating of “Moderate Buy” with an average price target of $235.68, based on recent data.

About Apple Inc.

Apple Inc. is a global leader in designing, manufacturing, and marketing a range of products, including smartphones, personal computers, tablets, and wearables. Their prominent product lines consist of the iPhone, Mac, iPad, and various accessories like AirPods, Apple Watch, and Apple TV, establishing significant market presence.

Heritage, Shares, Apple