Old North State Wealth Management LLC Increases Holdings in Apple Inc. to $6.31 Million

As of January 8, 2025, Old North State Wealth Management LLC has significantly increased its holdings in Apple Inc. (NASDAQ:AAPL) by 99.2% during the third quarter. According to reports, the firm now owns 27,050 shares of the well-known iPhone manufacture’s stock, after purchasing an additional 13,472 shares during that period. As a result, Apple constitutes approximately 3.5% of Old North State Wealth Management LLC’s entire portfolio, ranking it as the firm's 6th largest investment. The value of Old North State Wealth Management LLC’s shares in Apple reached $6,309,000 at the conclusion of the most recent quarter.

In addition to Old North State, other institutional investors have also made recent adjustments to their positions in Apple. For example, Bull Oak Capital LLC increased its holdings by 252.3% during the same quarter and now possesses 155 shares valued at $36,000. Hershey Financial Advisers LLC acquired a new position during the second quarter worth about $42,000. Christopher J. Hasenberg Inc. raised its stake by 88.9%, owning 306 shares valued at $69,000. Meanwhile, Cordant Inc. increased its holdings by 34.3%, maintaining 678 shares worth $158,000, and EMC Capital Management boosted its position by 7.3%, with 892 shares valued at $201,000. Notably, institutional investors collectively own 67.73% of Apple’s stock.

Analyst Opinions on Apple Stock

Recently, a number of analysts have shared their evaluations of Apple's stock. Moffett Nathanson has reiterated a “sell” rating, lowering the price target to $188.00 from a previous $202.00. Conversely, Bank of America has maintained a “buy” rating with a price target set at $256.00 as of January 3rd. Wells Fargo raised their target price to $275.00 while giving the stock a “buy” rating. Piper Sandler has a “neutral” rating and a price target of $225.00. StockNews.com downgraded Apple from a “buy” to a “hold” rating. In summary, analysts have issued three sell ratings, eleven hold ratings, twenty-three buy ratings, and one strong buy rating this past quarter. According to data compiled by MarketBeat, Apple holds a consensus rating of “Moderate Buy” with an average target price of $237.64.

Current Performance of Apple Shares

On the market, shares of Apple (NASDAQ:AAPL) opened at $242.21 on a recent Wednesday. The firm’s 50-day simple moving average is $239.32, while its 200-day simple moving average stands at $229.57. Apple's market capitalization is approximately $3.66 trillion with a debt-to-equity ratio of 1.51, a current ratio of 0.87, and a quick ratio of 0.83. The stock has displayed a 1-year low of $164.07 and a high of $260.10.

On October 31st, Apple reported its earnings results, declaring $1.64 earnings per share (EPS) for the quarter, which surpassed the consensus estimate of $1.60 by $0.04. The company generated a revenue of $94.93 billion, exceeding expectations of $94.52 billion. Compared to the previous year’s quarterly earnings of $1.46 EPS, this quarter's results reflect a 6.1% revenue growth year-over-year. Analysts predict that for the current fiscal year, Apple Inc. will post an EPS of 7.43.

Dividend Information from Apple

Additionally, Apple has announced a recent quarterly dividend, which was paid on November 14th to shareholders of record as of November 11th. The dividend distributed was $0.25, which leads to an annualized dividend of $1.00, reflecting a yield of 0.41%. The ex-dividend date was set for November 8th, and Apple’s payout ratio stands at 16.45%.

Insider Transactions at Apple

There have been notable insider transactions involving Apple stock recently, with COO Jeffrey E. Williams selling 100,000 shares on December 16th. This sale occurred at an average price of $249.97, totaling approximately $24,997,000. After this transaction, Williams now holds 389,944 shares valued at about $97 million, marking a 20.41% decrease in his ownership. Additionally, insider Chris Kondo sold 4,130 shares on November 18th at an average price of $228.87, worth $945,233.10. Post-transaction, Kondo possesses 15,419 shares valued at approximately $3.5 million, representing a 21.13% decrease in ownership. The total insider ownership amounts to 0.06% of Apple’s stock.

Overview of Apple Inc.

Apple Inc. is known for designing, manufacturing, and marketing a wide variety of consumer electronics, including smartphones, personal computers, tablets, wearables, and accessories. The company's major products include the iPhone smartphones, the Mac personal computers, the iPad tablets, and various accessories like AirPods, Apple TV, Apple Watch, and HomePod.

Apple, Investments, Stock