Nomura Asset Management Co. Ltd. has increased its investment in Apple Inc. (NASDAQ: AAPL) by 1.2% during the second quarter of 2023. The fund’s latest Form 13F filing with the Securities and Exchange Commission revealed that Nomura now holds 7,116,721 shares of the tech giant, having acquired an additional 82,902 shares. This move positions Apple as the fourth largest holding in Nomura’s portfolio, representing approximately 4.0% of its total assets, valued at $1.46 billion as of the filing date.
In addition to Nomura’s actions, several other hedge funds have also adjusted their stakes in Apple. Financial Futures Ltd Liability Co. has increased its holdings by 13.2%, now owning 3,552 shares valued at $729,000. Similarly, Bell & Brown Wealth Advisors LLC added to its position by 0.4% during the first quarter, bringing their total to 62,001 shares worth $13.77 million. American National Bank & Trust increased its stake by 2.4% in the second quarter, now holding 195,482 shares valued at $40.11 million. Riverwater Partners LLC made a significant increase of 17.9%, owning 5,404 shares worth approximately $1.11 million after acquiring more. Notably, Andina Capital Management LLC expanded its holdings by an impressive 209.2%, now owning 6,786 shares valued at $1.51 million.
Institutional investors and hedge funds collectively own 67.73% of Apple’s stock, reflecting strong confidence in the company’s performance.
Market Performance and Dividend Announcements
As of the latest trading session, Apple shares opened at $278.78, reflecting a slight decline of 0.7%. The company boasts a market capitalization of $4.12 trillion and a price-to-earnings ratio of 37.32. Over the past year, Apple’s stock has fluctuated significantly, with a low of $169.21 and a high of $288.62. The fifty-day moving average price stands at $266.03, while the two-hundred day average is $234.26.
Recently, Apple declared a quarterly dividend of $0.26 per share, which was paid on November 13, 2023. Shareholders on record as of November 10, 2023 received this payment, reflecting an annualized dividend of $1.04 and a yield of 0.4%. The company’s dividend payout ratio is currently 13.92%.
Insider Trading Activity
In related developments, two senior executives at Apple have engaged in significant stock sales. Senior Vice President Deirdre O’Brien sold 43,013 shares on October 2, 2023, at an average price of $257.39, totaling approximately $11.07 million. Following this transaction, O’Brien holds 136,687 shares, valued at around $35.18 million, which represents a 23.94% reduction in her ownership.
Additionally, Senior Vice President Katherine L. Adams sold 47,125 shares on the same day for an average price of $256.79, amounting to about $12.10 million. Adams now owns 179,158 shares, worth approximately $46.01 million, reflecting a 20.83% decrease in her position. Over the last quarter, insiders have sold a total of 228,052 shares, valued at $58.60 million. Currently, corporate insiders hold 0.06% of Apple’s stock.
Analysts have also been active in revising their outlooks for Apple. On October 31, 2023, Robert W. Baird set a target price of $300.00, while Wells Fargo & Company maintained the same target and assigned an “overweight” rating. Melius Research has set an optimistic target of $345.00. Morgan Stanley raised its price target to $305.00, also labeling the stock as “overweight.” Rosenblatt Securities adjusted its price objective from $241.00 to $250.00, giving it a “neutral” rating.
As it stands, two analysts have rated Apple’s stock with a “Strong Buy,” twenty-three have issued a “Buy,” eleven have assigned a “Hold,” and one has issued a “Sell.” Data from MarketBeat.com indicates an average rating of “Moderate Buy” with a consensus price target of $280.09.
Apple Inc. continues to be a major player in the technology sector, known for its innovative products including the iPhone, Mac computers, and wearables. As investor interest remains high, the company’s developments and market performance will be closely watched.
