Evexia Wealth LLC's Investment in Apple Inc.

Evexia Wealth LLC has reduced its stake in Apple Inc. (NASDAQ:AAPL) by 3.0% during the second quarter, according to recent reports. Following the sale of 1,715 shares, the firm now holds 55,711 shares of the tech giant. Apple represents roughly 3.4% of Evexia Wealth LLC’s overall portfolio, making it the fifth largest holding in their investments. The value of Evexia Wealth LLC’s holdings in Apple is estimated at $12.48 million, based on the most recent filing with the Securities and Exchange Commission (SEC).

Additionally, several other institutional investors have adjusted their positions in Apple recently. For instance, Vanguard Group Inc. increased its holdings in Apple by 1.4% during the fourth quarter, acquiring an additional 18,067,216 shares, bringing its total ownership to approximately 1.32 billion shares, valued at about $253.77 billion. Moreover, Swedbank AB initiated a new position valued around $3.03 billion in the first quarter. Global Assets Advisory LLC also saw a huge increase, lifting its stake by an impressive 23,076.4% to own 9.24 million shares valued at $1.58 billion after acquiring 9.20 million additional shares.

The Canada Pension Plan Investment Board nearly doubled its Apple holdings by 158.3%, owning 11.53 million shares worth about $1.98 billion following its acquisition of over 7 million additional shares. Lazard Asset Management LLC also increased its stake in Apple by 161.2%, now holding approximately 8.76 million shares valued at $1.50 billion. Overall, institutional investors now own 60.41% of Apple’s stock.

Analyst Ratings and Price Targets

Experts on Wall Street have provided insights into Apple’s stock performance. Piper Sandler maintained a “neutral” rating and set a price target of $225.00 for AAPL shares. Meanwhile, Bank of America reinforced a “buy” rating with a price target of $256.00 on October 3rd. Cfra adjusted their price expectation from $240.00 to $260.00, also assigning a “buy” rating. JPMorgan Chase & Co. reiterated an “overweight” rating with a target of $265.00, while Evercore ISI similarly retained a “buy” rating and a target of $250.00 on September 26th. The stock has received mixed reviews, with one analyst recommending a sell, thirteen suggesting holds, twenty-two indicating buys, and one giving a strong buy rating. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” alongside a typical target price of $239.27.

Apple's Stock Performance

As of Friday, Apple’s stock opened at $227.55. Over the last year, shares have fluctuated between a low of $164.07 and a high of $237.23. The current 50-day moving average stands at $223.62, while the 200-day moving average is noted at $205.95. Apple boasts a market capitalization of approximately $3.49 trillion, a price-to-earnings ratio of 35.39, and a price-to-earnings growth ratio of 2.40, with a beta of 1.24. The company shows a debt-to-equity ratio of 1.29, along with a current ratio of 0.95, and a quick ratio of 0.91.

In its latest financial disclosure on August 1st, Apple announced earnings of $1.40 per share, exceeding the market consensus by $0.06. The company also reported quarterly revenue of $85.78 billion, outpacing analysts’ expectations of $84.43 billion, marking a 4.9% increase from the same quarter last year. Forecasts suggest that Apple Inc. may achieve earnings of $6.65 per share in the current fiscal year.

Dividends and Insider Activity

Recently, Apple announced its quarterly dividend, which was paid on August 15th. Shareholders who were on record as of August 12th received a dividend of $0.25 per share, translating to an annualized dividend of $1.00 and yielding 0.44%. The ex-dividend date was the same as the record date. Currently, Apple's dividend payout ratio stands at 15.55%.

In insider trading news, Senior Vice President Katherine L. Adams sold 100,000 shares on August 5th at an average price of $206.44, totaling $20.64 million. After this sale, Adams holds 191,543 shares valued at about $39.54 million. Additionally, CEO Timothy D. Cook sold 223,986 shares on October 2nd for an estimated total of $50.28 million, leaving him with 3.28 million shares worth around $736.27 million. Over the past ninety days, insiders have sold approximately 517,924 shares totaling $114.79 million, indicating that corporate insiders own around 0.06% of Apple's stock.

Company Overview

Apple Inc. designs, manufactures, and markets a variety of products, including smartphones, personal computers, tablets, wearables, and accessories globally. Its product lineup includes the iPhone series, the Mac personal computers, the iPad tablets, as well as a range of wearables and home products such as AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

Investment, Stocks, Apple