Iowa State Bank Grows Holdings in Apple Inc. (NASDAQ:AAPL)

Posted by on Mar 19th, 2023

Iowa State Bank increased its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,017 shares of the iPhone maker’s stock after acquiring an additional 2,257 shares during the quarter. Apple comprises approximately 3.0% of Iowa State Bank’s investment portfolio, making the stock its 6th biggest holding. Iowa State Bank’s holdings in Apple were worth $12,085,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV raised its holdings in Apple by 0.3% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 709,056 shares of the iPhone maker’s stock worth $92,128,000 after buying an additional 2,065 shares during the period. First National Bank of Mount Dora Trust Investment Services raised its holdings in Apple by 1.9% during the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 72,987 shares of the iPhone maker’s stock worth $9,483,000 after buying an additional 1,348 shares during the period. Capital Investment Advisors LLC raised its holdings in Apple by 4.7% during the 4th quarter. Capital Investment Advisors LLC now owns 437,214 shares of the iPhone maker’s stock worth $56,807,000 after buying an additional 19,810 shares during the period. General Partner Inc. acquired a new stake in Apple during the 4th quarter worth approximately $11,986,000. Finally, Kozak & Associates Inc. raised its holdings in Apple by 4.9% during the 4th quarter. Kozak & Associates Inc. now owns 49,166 shares of the iPhone maker’s stock worth $6,388,000 after buying an additional 2,301 shares during the period. Institutional investors own 57.60% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the topic of several research analyst reports. Raymond James dropped their target price on shares of Apple from $185.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. DA Davidson raised their target price on shares of Apple from $167.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. JPMorgan Chase & Co. set a $175.00 price objective on shares of Apple in a report on Wednesday, March 1st. BNP Paribas downgraded shares of Apple from an “outperform” rating to a “neutral” rating and set a $140.00 price objective on the stock. in a report on Tuesday, January 3rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $195.00 price objective on shares of Apple in a report on Friday, February 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $168.24.

Apple Trading Down 0.5 %

AAPL stock opened at $155.00 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.94 and a quick ratio of 0.89. The company has a fifty day moving average price of $146.64 and a two-hundred day moving average price of $145.32. Apple Inc. has a one year low of $124.17 and a one year high of $179.61. The stock has a market cap of $2.45 trillion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 2.03 and a beta of 1.30.

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

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Friday, February 10th. This is a boost from Apple’s previous quarterly dividend of $0.17. Apple’s payout ratio is presently 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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