Apple Inc. (NASDAQ:AAPL) Stock Holdings Raised by Tower Wealth Partners Inc. (2024)

Posted by MarketBeat News on Jan 28th, 2024

Tower Wealth Partners Inc. lifted its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,857 shares of the iPhone maker’s stock after purchasing an additional 78 shares during the period. Apple comprises about 1.7% of Tower Wealth Partners Inc.’s investment portfolio, making the stock its 12th biggest holding. Tower Wealth Partners Inc.’s holdings in Apple were worth $2,030,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Atlantic Private Wealth LLC bought a new stake in shares of Apple in the 1st quarter valued at approximately $30,000. Cheyne Capital Management UK LLP increased its stake in Apple by 200.0% during the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $212,000 after purchasing an additional 550 shares during the last quarter. West Tower Group LLC acquired a new stake in shares of Apple during the second quarter worth $64,000. HBC Financial Services PLLC lifted its position in shares of Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares during the last quarter. Finally, Clear Perspectives Financial Planning LLC boosted its holdings in shares of Apple by 27.3% in the 1st quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock valued at $172,000 after buying an additional 211 shares during the period. 58.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Chris Kondo sold 5,513 shares of Apple stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $192.00, for a total transaction of $1,058,496.00. Following the transaction, the insider now owns 29,174 shares in the company, valued at $5,601,408. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Apple news, insider Chris Kondo sold 5,513 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $192.00, for a total transaction of $1,058,496.00. Following the completion of the sale, the insider now directly owns 29,174 shares in the company, valued at approximately $5,601,408. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 123,448 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $188.79, for a total value of $23,305,747.92. Following the completion of the transaction, the senior vice president now owns 293,266 shares in the company, valued at approximately $55,365,688.14. The disclosure for this sale can be found here. Insiders sold 133,767 shares of company stock worth $25,248,740 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Down 0.9 %

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Shares of Apple stock opened at $192.42 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.99 and a debt-to-equity ratio of 1.53. Apple Inc. has a 12-month low of $141.32 and a 12-month high of $199.62. The firm has a market capitalization of $2.98 trillion, a PE ratio of 31.44, a price-to-earnings-growth ratio of 2.33 and a beta of 1.29. The stock’s fifty day moving average is $191.01 and its 200-day moving average is $184.46.

Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.07. Apple had a return on equity of 160.78% and a net margin of 25.31%. The firm had revenue of $89.50 billion for the quarter, compared to the consensus estimate of $89.34 billion. During the same quarter in the previous year, the company earned $1.29 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 6.58 earnings per share for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 13th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.50%. The ex-dividend date was Friday, November 10th. Apple’s dividend payout ratio (DPR) is currently 15.69%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of recent research reports. Morgan Stanley raised their target price on shares of Apple from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, December 8th. Wedbush restated an “outperform” rating and set a $250.00 price objective on shares of Apple in a research report on Wednesday, December 20th. Bank of America upgraded Apple from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $208.00 to $225.00 in a research note on Thursday, January 18th. Rosenblatt Securities cut their target price on Apple from $198.00 to $189.00 and set a “neutral” rating on the stock in a research note on Friday, November 3rd. Finally, Redburn Atlantic lowered shares of Apple from a “buy” rating to a “neutral” rating and set a $200.00 price target for the company. in a research report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.34.

View Our Latest Report on AAPL

Apple Profile

(Free Report)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Free Report).

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I'm an experienced financial analyst and investment enthusiast with a proven track record of understanding market dynamics and trends. Over the years, I've delved deep into various aspects of the financial world, honing my expertise in analyzing investment strategies, understanding market movements, and deciphering intricate financial reports.

Now, let's dissect the information provided in the article by MarketBeat News on Jan 28th, 2024, regarding Tower Wealth Partners Inc.'s stake in Apple Inc. (AAPL) and related financial details.

Tower Wealth Partners Inc.'s Investment in Apple Inc. (AAPL):

Stake Increase: Tower Wealth Partners Inc. increased its stake in Apple Inc. by 0.7% during the 3rd quarter. The Form 13F filing with the SEC reveals that the fund now owns 11,857 shares of Apple after purchasing an additional 78 shares during the period.
Portfolio Percentage: Apple constitutes about 1.7% of Tower Wealth Partners Inc.'s investment portfolio, making it the 12th biggest holding.
Portfolio Value: The holdings in Apple were valued at $2,030,000 at the end of the reporting period.

Other Hedge Funds' Activity:

Atlantic Private Wealth LLC: Bought a new stake in Apple during the 1st quarter, valued at approximately $30,000.
Cheyne Capital Management UK LLP: Increased its stake in Apple by 200.0% during the third quarter, now owning 275 shares valued at $212,000.
West Tower Group LLC: Acquired a new stake in Apple during the second quarter worth $64,000.
HBC Financial Services PLLC: Lifted its position in Apple by 21.7% in the 1st quarter, now owning 448 shares worth $49,000.
Clear Perspectives Financial Planning LLC: Boosted its holdings in Apple by 27.3% in the 1st quarter, now owning 983 shares valued at $172,000.

Insider Activity:

Chris Kondo: Sold 5,513 shares of Apple stock at an average price of $192.00, totaling $1,058,496.00. After the transaction, the insider owns 29,174 shares valued at $5,601,408.
Katherine L. Adams: Sold 123,448 shares of Apple stock at an average price of $188.79, totaling $23,305,747.92. After the sale, the senior vice president owns 293,266 shares valued at $55,365,688.14.

Financial Details:

Stock Performance: Apple stock opened at $192.42 on the reported date.
Financial Ratios: The company has a quick ratio of 0.94, a current ratio of 0.99, and a debt-to-equity ratio of 1.53.
Market Capitalization: Apple Inc. has a market capitalization of $2.98 trillion.
PE Ratio: The PE ratio stands at 31.44, with a price-to-earnings-growth ratio of 2.33 and a beta of 1.29.
Moving Averages: The stock's fifty-day moving average is $191.01, and its 200-day moving average is $184.46.
Earnings: Apple reported $1.46 earnings per share for the latest quarter, beating the consensus estimate of $1.39. The company had a return on equity of 160.78% and a net margin of 25.31%.
Revenue: Apple's revenue for the quarter was $89.50 billion, slightly down from the consensus estimate of $89.34 billion.

Dividend Information:

Dividend Payment: Apple announced a quarterly dividend, with shareholders receiving $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.50%.
Dividend Payout Ratio: Apple's dividend payout ratio (DPR) is currently 15.69%.

Wall Street Analysts' Forecasts:

Target Prices: Analysts from Morgan Stanley, Wedbush, Bank of America, and others have varying target prices for Apple, with consensus suggesting a "Moderate Buy" rating and an average target price of $205.34.
Analyst Ratings: Out of the analysts, one has rated the stock as "sell," eleven as "hold," twenty-three as "buy," and one as "strong buy."

Conclusion:

The provided information showcases Tower Wealth Partners Inc.'s strategic moves, insider activities, and a comprehensive overview of Apple Inc.'s financial performance and market standing. This analysis is crucial for investors and financial enthusiasts to make informed decisions in the dynamic world of finance.