Apple Inc. (NASDAQ:AAPL) Shares Bought by Sunburst Financial Group LLC

Posted by Defense World Staff on Sep 24th, 2023

Sunburst Financial Group LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 9.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,733 shares of the iPhone maker’s stock after purchasing an additional 2,140 shares during the period. Apple makes up approximately 1.7% of Sunburst Financial Group LLC’s investment portfolio, making the stock its 15th largest holding. Sunburst Financial Group LLC’s holdings in Apple were worth $4,797,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Atlantic Private Wealth LLC acquired a new position in Apple during the first quarter worth about $30,000. St. James Investment Advisors LLC lifted its stake in Apple by 98.3% during the fourth quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock valued at $31,000 after purchasing an additional 117 shares during the last quarter. Summit Wealth Group LLC boosted its holdings in Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after buying an additional 6,949,659 shares in the last quarter. HBC Financial Services PLLC grew its position in Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA bought a new position in shares of Apple in the fourth quarter valued at $93,000. 58.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 15,419 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the transaction, the senior vice president now directly owns 136,445 shares in the company, valued at $24,363,619.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $174.79 on Friday. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $198.23. The firm’s fifty day simple moving average is $183.37 and its 200 day simple moving average is $176.19. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $2.73 trillion, a PE ratio of 29.38, a PEG ratio of 2.53 and a beta of 1.27.

Apple (NASDAQ:AAPL – Get Free Report) last announced its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.07. Apple had a return on equity of 164.92% and a net margin of 24.68%. The firm had revenue of $81.80 billion during the quarter, compared to the consensus estimate of $81.79 billion. During the same quarter in the prior year, the company earned $1.20 EPS. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Apple Inc. will post 6.05 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.55%. The ex-dividend date was Friday, August 11th. Apple’s payout ratio is currently 16.13%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Bank of America reaffirmed a “neutral” rating and set a $208.00 target price on shares of Apple in a research report on Friday. Jefferies Financial Group cut their target price on Apple from $225.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, August 4th. Robert W. Baird lifted their target price on shares of Apple from $180.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, July 24th. Finally, StockNews.com assumed coverage on Apple in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Ten analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $199.41.

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Apple Profile

(Free Report)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.