Hexagon Capital Partners LLC Reduces Stake in Apple Inc.

Hexagon Capital Partners LLC has slightly decreased its investment in Apple Inc. (NASDAQ:AAPL) by 0.2% during the third quarter. This information was revealed in the company's latest Form 13F submission to the Securities and Exchange Commission (SEC). After selling 147 shares during this period, the fund now holds 67,750 shares of the major tech company. Apple Inc. accounts for approximately 3.1% of Hexagon Capital Partners LLC's overall portfolio, making it the fund's fifth largest investment. As of the end of the recent reporting period, the value of the fund's holdings in Apple was around $15,786,000.

In addition to Hexagon Capital Partners LLC, several other institutional investors have also modified their holdings in Apple. For instance, CWM LLC increased its stake by 3.6% in the third quarter, which now totals 2,071,727 shares valued at $482,712,000 after buying an extra 71,463 shares. Similarly, O Connor Financial Group LLC saw a 1.8% increase in their stake, now owning 3,537 shares worth $824,000 after acquiring 61 shares. Other notable changes include West Financial Advisors LLC boosting its holdings by 3.2%, with now 13,630 shares valued at $3,176,000, and Gunderson Capital Management Inc. raising its holdings by a substantial 50% to a total of 6,993 shares worth $1,629,000. Finally, Beacon Wealthcare LLC grew its stake by 4.8%, owning 5,304 shares valued at $1,236,000. In total, hedge funds and other institutional investors retain 60.41% of Apple’s shares.

Current Market Position of Apple

On Wednesday, shares of Apple stock opened at $235.06. The company's stock has a 50-day moving average of $228.43 and a 200-day moving average of $219.01. The shares have experienced a low of $164.07 and a high of $237.49 within the past year. Financially, Apple boasts a market capitalization of $3.55 trillion, a debt-to-equity ratio of 1.51, and a quick ratio of 0.83, alongside a current ratio of 0.87.

Recent Earnings Results

Apple recently reported its earnings for the latest quarter, which occurred on October 31st. The tech giant achieved earnings of $1.64 per share (EPS), surpassing analysts' consensus predictions of $1.60 by $0.04. The company witnessed a net margin of 23.97% and a remarkable return on equity of 152.94%. Apple's reported revenue for the quarter amounted to $94.93 billion, in contrast to the analysts' expectations of $94.52 billion. Comparatively, the company earned $1.46 EPS during the same time last year, reflecting a 6.1% increase in revenue year-over-year. Analysts currently estimate that Apple will post an EPS of 7.43 for the current fiscal year.

Dividend and Shareholder Returns

Furthermore, Apple announced a quarterly dividend recently, which was paid out on November 14th. Those on record as of November 11th received a dividend of $0.25, translating to an annualized dividend of $1.00, and a yield of 0.43%. The ex-dividend date for this dividend was November 8th. Currently, Apple's dividend payout ratio stands at 16.45%.

Insider Trading Activity

In other news related to Apple, Senior Vice President Katherine L. Adams sold 61,019 shares on October 2nd at an average price of $226.20, bringing the total value of the transaction to approximately $13.8 million. Post-transaction, Adams owns 187,043 shares valued at around $42.3 million, signifying a reduction of 24.60% in her ownership. Similarly, CEO Timothy D. Cook sold 223,986 shares on the same day for an estimated $50.3 million. After the sale, Cook retains 3,280,180 shares worth about $736.3 million. Over the last ninety days, insiders have sold a total of 408,170 shares valued at around $92 million. Insiders of the company hold about 0.06% of Apple's stock.

Analyst Ratings and Predictions

Recent analyst reports on Apple show a mix of opinions. Monness Crespi & Hardt reaffirmed a “buy” rating with a target price of $245.00, while StockNews.com downgraded their recommendation from “buy” to “hold.” Piper Sandler maintained a “neutral” rating with a target price of $225.00, and Moffett Nathanson lowered their price outlook from $211.00 to $202.00, maintaining a “neutral” stance. Meanwhile, Bank of America reiterated a “buy” rating with a target price of $256.00. Currently, the consensus rating for Apple’s stock is classified as a “Moderate Buy,” with a consensus target price of $235.25, noting that two analysts give a sell rating, twelve recommend holding, and twenty-two suggest buying the stock.

Company Overview

Apple Inc. is a leading technology company that designs, manufactures, and markets a variety of products, including smartphones, personal computers, tablets, wearables, and accessories globally. Its product lineup consists of the iPhone, Mac computers, iPads, and wearables like Apple Watch, in addition to other accessories such as AirPods and Apple TV.

Overall, Hexagon Capital Partners' adjustments and the activity of other institutional investors showcase the ongoing interest and changes in investment strategies concerning Apple Inc.

investment, Apple, stocks