Ironwood Investment Counsel LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 136,609 shares of the iPhone maker’s stock after buying an additional 3,276 shares during the period. Apple comprises about 5.4% of Ironwood Investment Counsel LLC’s investment portfolio, making the stock its 2nd biggest holding. Ironwood Investment Counsel LLC’s holdings in Apple were worth $18,879,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of AAPL. IFM Investors Pty Ltd lifted its stake in shares of Apple by 20.0% in the 1st quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock valued at $456,728,000 after purchasing an additional 435,891 shares during the last quarter. Ironwood Wealth Management LLC. lifted its stake in shares of Apple by 0.4% in the 1st quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock valued at $42,016,000 after purchasing an additional 1,040 shares during the last quarter. Markel Corp lifted its stake in shares of Apple by 0.7% in the 1st quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock valued at $210,752,000 after purchasing an additional 8,450 shares during the last quarter. Camden Capital LLC lifted its stake in shares of Apple by 9.2% in the 1st quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock valued at $27,305,000 after purchasing an additional 13,200 shares during the last quarter. Finally, Harbor Island Capital LLC lifted its stake in shares of Apple by 0.3% in the 1st quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock valued at $23,629,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 57.60% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Canaccord Genuity Group reduced their price objective on shares of Apple from $200.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, January 18th. Piper Sandler reissued an “overweight” rating and set a $195.00 target price on shares of Apple in a research report on Friday, February 3rd. Wedbush boosted their target price on shares of Apple from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Rosenblatt Securities boosted their target price on shares of Apple from $165.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, February 3rd. Finally, The Goldman Sachs Group started coverage on shares of Apple in a research report on Sunday. They set a “buy” rating and a $199.00 target price for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $167.94.
Apple Price Performance
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.05). The firm had revenue of $117.15 billion during the quarter, compared to analyst estimates of $121.67 billion. Apple had a net margin of 24.56% and a return on equity of 163.45%. Apple’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.10 earnings per share. On average, equities analysts anticipate that Apple Inc. will post 6.04 EPS for the current fiscal year.
Apple Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, February 16th. Shareholders of record on Monday, February 13th were given a $0.23 dividend. The ex-dividend date was Friday, February 10th. This is a positive change from Apple’s previous quarterly dividend of $0.17. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. Apple’s payout ratio is 15.62%.
Apple Company Profile
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.
- Get a free copy of the StockNews.com research report on Apple (AAPL)
- Under-the-Radar Azul SA Takes Flight on Robust Travel Demand
- Market Gets “Powelled”: S&P 500 Confirms Resistance
- Rivian Plummets, But Is This 2023’s Greatest Buying Opportunity?
- Ulta Insiders Hold Tight: Sell-Siders Buy
- Potential Earnings Have Rated Ambrx Biopharma a Moderate Buy
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.