Apple Inc. (NASDAQ:AAPL) Shares Bought by Norwood Financial Corp

Posted by Defense World Staff on Mar 27th, 2023

Norwood Financial Corp grew its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 7,675 shares of the iPhone maker’s stock after purchasing an additional 175 shares during the quarter. Apple accounts for 1.6% of Norwood Financial Corp’s portfolio, making the stock its 12th largest position. Norwood Financial Corp’s holdings in Apple were worth $997,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Wealthspire Advisors LLC increased its position in shares of Apple by 42.8% during the 2nd quarter. Wealthspire Advisors LLC now owns 299,829 shares of the iPhone maker’s stock valued at $40,993,000 after purchasing an additional 89,865 shares during the period. Eagle Bay Advisors LLC boosted its stake in shares of Apple by 35.7% during the 2nd quarter. Eagle Bay Advisors LLC now owns 25,608 shares of the iPhone maker’s stock worth $3,501,000 after acquiring an additional 6,735 shares in the last quarter. Callan Capital LLC boosted its stake in shares of Apple by 1.6% during the 2nd quarter. Callan Capital LLC now owns 85,226 shares of the iPhone maker’s stock worth $11,652,000 after acquiring an additional 1,322 shares in the last quarter. Bennett Selby Investments LP boosted its stake in shares of Apple by 0.3% during the 3rd quarter. Bennett Selby Investments LP now owns 151,793 shares of the iPhone maker’s stock worth $20,978,000 after acquiring an additional 450 shares in the last quarter. Finally, Blueshift Asset Management LLC bought a new stake in shares of Apple during the 3rd quarter worth $563,000. 57.60% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

NASDAQ AAPL opened at $160.25 on Monday. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $179.61. The stock’s 50-day moving average is $149.26 and its two-hundred day moving average is $145.33. 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 firm has a market cap of $2.54 trillion, a P/E ratio of 27.21, a price-to-earnings-growth ratio of 2.10 and a beta of 1.30.

Apple (NASDAQ:AAPL – Get Rating) last posted its earnings results on Thursday, February 2nd. The iPhone maker reported $1.88 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $121.67 billion. During the same quarter last year, the business earned $2.10 earnings per share. Apple’s quarterly revenue was down 5.5% on a year-over-year basis. On average, analysts anticipate that Apple Inc. will post 6.04 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Monday, February 13th were paid a $0.23 dividend. 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.57%. Apple’s payout ratio is presently 15.62%.

Analysts Set New Price Targets

Several research firms have recently weighed in on AAPL. National Bank Financial reduced their price objective on Apple to $54.00 and set an “outperform” rating for the company in a research note on Friday, January 20th. Cowen reduced their price objective on Apple from $200.00 to $195.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. Jefferies Financial Group reissued a “buy” rating and set a $195.00 price objective on shares of Apple in a research note on Thursday, March 2nd. Morgan Stanley raised their target price on Apple from $175.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, March 3rd. Finally, 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $168.24.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 187,730 shares of Apple stock in a transaction dated Wednesday, March 22nd. The stock was sold at an average price of $159.76, for a total value of $29,991,744.80. Following the transaction, the chief operating officer now directly owns 489,816 shares in the company, valued at $78,253,004.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Apple Company Profile

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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.