Miller Wealth Advisors LLC has recently increased its investments in Apple Inc. by 22.0%, according to the company’s latest filing with the Securities and Exchange Commission (SEC) on April 26, 2023. The firm now owns a total of 236,616 shares in Apple, making up 21.6% of its investment portfolio and ranking as the third-largest holding.
The additional shares were procured during the fourth quarter of 2022, totaling at 42,684 shares. At the time of filing, Miller Wealth Advisors LLC’s Apple holdings were worth $31,052,000.
Following Apple’s quarter-end earnings report from February 2nd, which reported Q1 revenue of $117.15 billion and an earnings per share (EPS) of $1.88 – lower than analysts’ consensus estimate for EPS – group research analysts expect that Apple will post an EPS of 6.01 for this year.
In recent news from SEC filings on April 4th and April 3rd respectively, Chief Operating Officer Jeffrey E. Williams sold a total of 77,817 shares from the company’s stock with an average price per share of $166.11 – bringing his total share count to about half a million shares at a value of over $81 million; meantime Chief Executive Officer Timothy D. Cook sold off around $9 million worth in stock selling a little over fifty-six thousand shares at an average price per share just above $165.
Furthermore insiders have traded more than four-hundred thousand stocks valued at nearly seventy-one dollars since external reporting period began till April end and maintain ownership more than sixty percent for now.
These new developments could indicate that Apple’s executives may be taking profits before upcoming announcements or changes within the company or possibly reflecting shifts within their individual portfolios; however it may also not affect how retail investors perceive AAPL as their focus in buying is mainly associated to long-term investment strategies aligned with its potential growth trajectory.
Overall, the recent transactions by Miller Wealth Advisors LLC and Apple’s executives may generate curiosity and attract attention from market observers, investors, and analysts as to what the future holds for Apple both in terms of strategies undertaken and short-term valuation opportunities.
Apple Inc. Receives Boost in Institutional Investor and Hedge Fund Activity Amid Impressive Financial Figures
Apple Inc. has seen a recent surge in institutional investor and hedge fund activity, with Cassia Capital Partners LLC increasing their stake by 24.3% during Q4 of 2022. Additionally, Hoxton Planning & Management LLC and Blueshift Asset Management LLC acquired new stakes, while Mayflower Financial Advisors LLC grew their stake by 4.4%. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH also increased their stake by 0.3%, resulting in institutional investors and hedge funds owning 57.60% of the company’s stock.
On April 26th, Apple’s stock opened at a staggering $163.77, with a market cap of $2.59 trillion, a price-to-earnings ratio of 27.80, a P/E/G ratio of 2.19, and a beta of 1.30; figures that are impressive on any scale.
The company’s COO, Jeffrey E Williams recently sold over $12 million worth of shares in an April transaction, accompanied by CEO Timothy D Cook who sold just under $9 million worth the day before; both subsequent filings were disclosed to the SEC for transparency purposes.
Despite insiders selling over 435 thousand shares collectively within the past quarter alone – valuing just over $70 million – Apple’s quarterly dividend payout is reflective of a positive change from its previous value ($0.17) to $0.23 per share.
With favorable ratings from credit-rating firms Credit Suisse Group and Wedbush (an “outperform” rating), as well as strong endorsements from Needham & Company LLC (a “buy” rating), Deutsche Bank AG (a set price target of $160), and Jefferies Financial Group (a “buy” rating with an end-game price target of up to $195 per share); it seems that the near-term future is also bright for Apple shareholders across the board.
