MidWestOne Financial Group Inc. Acquires 383 Shares of Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Mar 15th, 2023

MidWestOne Financial Group Inc. increased its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 129,245 shares of the iPhone maker’s stock after acquiring an additional 383 shares during the quarter. Apple comprises 4.5% of MidWestOne Financial Group Inc.’s portfolio, making the stock its 2nd biggest holding. MidWestOne Financial Group Inc.’s holdings in Apple were worth $17,862,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. MKT Advisors LLC lifted its holdings in Apple by 0.5% during the second quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after acquiring an additional 60 shares during the period. Your Advocates Ltd. LLP lifted its holdings in Apple by 1.0% during the second quarter. Your Advocates Ltd. LLP now owns 6,339 shares of the iPhone maker’s stock worth $867,000 after acquiring an additional 65 shares during the period. Aufman Associates Inc lifted its holdings in Apple by 0.9% during the second quarter. Aufman Associates Inc now owns 7,674 shares of the iPhone maker’s stock worth $1,049,000 after acquiring an additional 66 shares during the period. Silver Oak Advisory Group Inc. lifted its holdings in Apple by 1.8% during the second quarter. Silver Oak Advisory Group Inc. now owns 3,925 shares of the iPhone maker’s stock worth $537,000 after acquiring an additional 69 shares during the period. Finally, Lowe Wealth Advisors LLC lifted its holdings in Apple by 1.4% during the third quarter. Lowe Wealth Advisors LLC now owns 4,993 shares of the iPhone maker’s stock worth $690,000 after acquiring an additional 69 shares during the period. 57.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on AAPL. BNP Paribas downgraded Apple from an “outperform” rating to a “neutral” rating and set a $140.00 target price for the company. in a research report on Tuesday, January 3rd. Cowen decreased their target price on Apple from $200.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. Canaccord Genuity Group decreased their target price on Apple from $200.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, January 18th. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price target on shares of Apple in a research report on Friday, February 3rd. Finally, Credit Suisse Group set a $184.00 price target on Apple in a research report on Monday, February 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $168.24.

Apple Trading Up 1.4 %

NASDAQ AAPL opened at $152.59 on Wednesday. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $179.61. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.76. The stock has a 50-day moving average of $144.98 and a 200-day moving average of $145.33. The firm has a market cap of $2.41 trillion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 1.97 and a beta of 1.30.

Apple (NASDAQ:AAPL – Get Rating) last released its earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.05). Apple had a net margin of 24.56% and a return on equity of 163.45%. The company had revenue of $117.15 billion during the quarter, compared to the consensus estimate of $121.67 billion. During the same period last year, the firm posted $2.10 EPS. The company’s revenue was down 5.5% on a year-over-year basis. As a group, sell-side analysts forecast that Apple Inc. will post 6.04 EPS for the current year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Friday, February 10th. This is a positive change from Apple’s previous quarterly dividend of $0.17. Apple’s payout ratio is 15.62%.

About Apple

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Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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