Hexagon Capital Partners LLC Reduces Stake in Apple Inc. to $15.79 Million

Hexagon Capital Partners LLC has slightly reduced its stake in Apple Inc. (NASDAQ:AAPL) by 0.2% during the third quarter, as revealed in the firm's latest Form 13F filing with the Securities and Exchange Commission. Following this adjustment, the fund now holds 67,750 shares of the tech giant's stock, having sold 147 shares in the process. Apple now constitutes approximately 3.1% of Hexagon Capital's entire portfolio, making it the fifth largest investment in their holdings. The valuation of Hexagon Capital's shares in Apple stands at about $15,786,000 at the end of the most recent reporting period.

Additionally, several other prominent investors have also modified their positions in Apple Inc. CWM LLC increased its stake by 3.6% in the last quarter, acquiring an additional 71,463 shares for a total of 2,071,727 shares, valued at $482,712,000. Meanwhile, O Connor Financial Group LLC raised its holdings by 1.8%, gaining 61 additional shares to reach a total of 3,537 shares worth around $824,000. West Financial Advisors LLC also made a notable increase, boosting its holdings in Apple by 3.2% to own 13,630 shares valued at $3,176,000.

In a more significant move, Gunderson Capital Management Inc. expanded its position by 50%, acquiring an additional 2,331 shares for a total of 6,993 shares valued at $1,629,000. Lastly, Beacon Wealthcare LLC increased its ownership by 4.8%, now holding 5,304 shares worth $1,236,000 after adding 242 shares in the last quarter. Overall, 60.41% of Apple Inc.'s shares are held by institutional investors and hedge funds, indicating a strong institutional presence in the company's stock.

Apple Stock Performance

As of Wednesday, Apple shares opened at $235.06. The stock has a 50-day moving average of $228.43 and a 200-day moving average of $219.01. Throughout the past year, Apple Inc. saw a low of $164.07 and a peak of $237.49. Financial metrics indicate that the company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83, and a current ratio of 0.87. Apple's market capitalization stands impressively at $3.55 trillion, with a price-to-earnings ratio of 38.66 and a PEG ratio of 2.25. In terms of volatility, the stock has a beta of 1.24.

Apple recently announced its earnings results for the quarter ending October 31st, where it reported earnings per share (EPS) of $1.64, exceeding analysts' expectations of $1.60 by $0.04. The company's net margin registered at 23.97%, alongside an impressive return on equity of 152.94%. Revenue for the quarter reached $94.93 billion, slightly above the expected $94.52 billion. Compared to the same period last year, revenue climbed by 6.1%, while earnings per share increased from $1.46.

Dividend Information

Apple has also recently declared a quarterly dividend of $0.25, which was paid on November 14th. Investors on record as of November 11th received this dividend, equating to an annualized dividend of $1.00 and a yield of 0.43%. The ex-dividend date was set for November 8th, and the current dividend payout ratio stands at 16.45%. This reflects Apple's strong position in rewarding its shareholders.

Insider Trading Activities

In news related to insider trading, senior vice president Katherine L. Adams sold 61,019 shares of Apple stock on October 2nd, at an average price of $226.20, which totaled approximately $13.8 million. After this sale, Adams retained 187,043 shares valued at approximately $42.3 million, representing a reduction of 24.6% in her ownership of the stock. Another significant insider trade involved CEO Timothy D. Cook, who also sold 223,986 shares on the same day at an average price of $224.46, resulting in a total of about $50.28 million. Post-transaction, Cook holds 3,280,180 shares valued at around $736.27 million, reducing his position by 6.39%. In total, insiders sold 408,170 shares worth $92 million over the last 90 days, and insiders currently hold about 0.06% of the company’s stock.

Analyst Ratings and Insights

Recent assessments from research analysts indicate a mixed outlook for Apple shares. Monness Crespi & Hardt maintained a “buy” rating with a target price of $245.00. Conversely, StockNews.com downgraded Apple from a “buy” to a “hold” rating. Piper Sandler kept a “neutral” rating with a target price of $225.00. Moffett Nathanson lowered their price expectation from $211.00 to $202.00, indicating a “neutral” stance on the stock. Bank of America continues to advocate a “buy” rating with a price target of $256.00. For the current consensus, there are two sell ratings, twelve hold ratings, twenty-two buy ratings, and one strong buy rating amongst analysts, with an average target price of $235.25 for Apple’s stock.

Company Overview

Apple Inc. designs, manufactures, and markets a variety of electronic products including smartphones, personal computers, tablets, wearables, and accessories on a global scale. Its flagship products include the iPhone, Mac computer line, iPad tablets, and various wearables and accessories such as AirPods, Apple TV, Apple Watch, Beats audio products, and the HomePod smart speaker.

Hexagon, Apple, Investors