Shira Ridge Wealth Management Purchases 66 Shares of Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Sep 26th, 2023

Shira Ridge Wealth Management raised its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,960 shares of the iPhone maker’s stock after buying an additional 66 shares during the period. Apple comprises 3.9% of Shira Ridge Wealth Management’s investment portfolio, making the stock its 7th biggest position. Shira Ridge Wealth Management’s holdings in Apple were worth $6,199,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AAPL. Ilmarinen Mutual Pension Insurance Co raised its position in Apple by 8.3% during the first quarter. Ilmarinen Mutual Pension Insurance Co now owns 785,000 shares of the iPhone maker’s stock worth $129,447,000 after acquiring an additional 60,000 shares during the period. Starfox Financial Services LLC increased its stake in shares of Apple by 21.5% during the fourth quarter. Starfox Financial Services LLC now owns 1,900 shares of the iPhone maker’s stock worth $247,000 after purchasing an additional 336 shares in the last quarter. Arista Wealth Management LLC increased its stake in shares of Apple by 1.0% during the first quarter. Arista Wealth Management LLC now owns 26,680 shares of the iPhone maker’s stock worth $4,399,000 after purchasing an additional 261 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Apple by 2.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 3,919,534 shares of the iPhone maker’s stock worth $646,332,000 after purchasing an additional 89,615 shares during the last quarter. Finally, New England Research & Management Inc. lifted its stake in Apple by 3.3% in the 2nd quarter. New England Research & Management Inc. now owns 29,606 shares of the iPhone maker’s stock valued at $5,743,000 after buying an additional 949 shares in the last quarter. Institutional investors and hedge funds own 58.51% of the company’s stock.

Insider Activity at Apple

In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $178.56, for a total value of $2,753,216.64. Following the sale, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at approximately $24,363,619.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

Shares of AAPL stock opened at $176.08 on Tuesday. The firm has a 50 day moving average of $183.01 and a two-hundred day moving average of $176.71. The stock has a market capitalization of $2.75 trillion, a PE ratio of 29.59, a P/E/G ratio of 2.55 and a beta of 1.27. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23.

Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $81.79 billion. During the same period last year, the business posted $1.20 earnings per share. Apple’s revenue was down 1.4% compared to the same quarter last year. On average, research analysts predict that Apple Inc. will post 6.05 EPS for the current fiscal year.

Apple Announces Dividend

The company 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. The ex-dividend date was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.55%. Apple’s payout ratio is 16.13%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AAPL shares. Credit Suisse Group reiterated an “outperform” rating and set a $220.00 price objective on shares of Apple in a research note on Friday, September 15th. Piper Jaffray Companies increased their price objective on Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, July 31st. Sanford C. Bernstein lifted their target price on shares of Apple from $175.00 to $195.00 and gave the stock a “market perform” rating in a research note on Thursday, July 27th. Canaccord Genuity Group increased their target price on shares of Apple from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Finally, The Goldman Sachs Group lowered their price target on shares of Apple from $222.00 to $216.00 and set a “buy” rating on the stock in a research report on Wednesday, September 13th. Ten equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $199.41.

Check Out Our Latest Research Report on Apple

Apple Company 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.