Bond & Devick Financial Network Inc. Trims Holdings in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Oct 5th, 2023

Bond & Devick Financial Network Inc. decreased its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 1.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,796 shares of the iPhone maker’s stock after selling 275 shares during the quarter. Apple comprises 2.1% of Bond & Devick Financial Network Inc.’s holdings, making the stock its 12th largest position. Bond & Devick Financial Network Inc.’s holdings in Apple were worth $3,452,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in AAPL. Atlantic Private Wealth LLC acquired a new position in Apple during the 1st quarter worth about $30,000. Cheyne Capital Management UK LLP lifted its stake in Apple by 200.0% during the 3rd quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after acquiring an additional 550 shares in the last quarter. HBC Financial Services PLLC lifted its stake in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after acquiring an additional 80 shares in the last quarter. Clear Perspectives Financial Planning LLC lifted its stake in Apple by 27.3% during the 1st quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock worth $172,000 after acquiring an additional 211 shares in the last quarter. Finally, NNS Holding acquired a new position in Apple during the 2nd quarter worth about $193,000. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $173.66 on Thursday. The firm has a market capitalization of $2.72 trillion, a PE ratio of 29.19, a P/E/G ratio of 2.33 and a beta of 1.28. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.98 and a quick ratio of 0.92. The business has a 50-day moving average of $179.99 and a two-hundred day moving average of $177.49. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $198.23.

Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, topping 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 company had revenue of $81.80 billion during the quarter, compared to analyst estimates of $81.79 billion. During the same period in the prior year, the firm posted $1.20 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. As a group, research analysts forecast that Apple Inc. will post 6.05 earnings per share for the current year.

Apple Dividend Announcement

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

Insider Transactions at Apple

In other news, SVP Deirdre O’brien sold 15,419 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $178.56, for a total value of $2,753,216.64. Following the completion of the sale, the senior vice president now owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Timothy D. Cook sold 240,569 shares of the stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the completion of the transaction, the chief executive officer now owns 3,280,053 shares of the company’s stock, valued at $565,809,142.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $178.56, for a total value of $2,753,216.64. Following the transaction, the senior vice president now directly owns 136,445 shares in the company, valued at approximately $24,363,619.20. The disclosure for this sale can be found here. Insiders sold 321,524 shares of company stock valued at $55,530,770 over the last quarter. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AAPL. Piper Jaffray Companies upped their price target on Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, July 31st. Deutsche Bank Aktiengesellschaft upped their price target on Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 24th. Credit Suisse Group restated an “outperform” rating and set a $220.00 price target on shares of Apple in a report on Friday, September 15th. Tigress Financial increased their price objective on Apple from $210.00 to $225.00 in a report on Friday, June 23rd. Finally, Wedbush increased their price objective on Apple from $230.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 13th. Nine equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.54.

View Our Latest 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.