Apple Inc. (NASDAQ:AAPL) Shares Purchased by IFG Advisors LLC

Posted by Defense World Staff on Oct 13th, 2023

IFG Advisors LLC boosted its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 41,147 shares of the iPhone maker’s stock after acquiring an additional 215 shares during the quarter. Apple accounts for about 2.8% of IFG Advisors LLC’s portfolio, making the stock its 12th biggest holding. IFG Advisors LLC’s holdings in Apple were worth $7,981,000 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 the stock. Members Trust Co grew its stake in Apple by 58.6% in the 2nd quarter. Members Trust Co now owns 34,595 shares of the iPhone maker’s stock valued at $6,710,000 after acquiring an additional 12,783 shares during the period. ARS Wealth Advisors Group LLC acquired a new stake in Apple in the 2nd quarter valued at $38,049,000. TFB Advisors LLC grew its stake in Apple by 98.6% in the 2nd quarter. TFB Advisors LLC now owns 24,017 shares of the iPhone maker’s stock valued at $4,659,000 after acquiring an additional 11,925 shares during the period. S.E.E.D. Planning Group LLC grew its stake in Apple by 1.5% in the 2nd quarter. S.E.E.D. Planning Group LLC now owns 105,174 shares of the iPhone maker’s stock valued at $20,401,000 after acquiring an additional 1,530 shares during the period. Finally, Fiduciary Alliance LLC boosted its stake in Apple by 1.3% during the 2nd quarter. Fiduciary Alliance LLC now owns 150,454 shares of the iPhone maker’s stock worth $29,184,000 after purchasing an additional 1,903 shares during the last quarter. Institutional investors and hedge funds own 58.51% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $180.71 on Friday. Apple Inc. has a one year low of $124.17 and a one year high of $198.23. The company has a market cap of $2.83 trillion, a PE ratio of 30.37, a P/E/G ratio of 2.40 and a beta of 1.28. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.92 and a current ratio of 0.98. The business has a 50-day simple moving average of $178.10 and a 200-day simple moving average of $178.18.

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

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Friday, August 11th. Apple’s dividend payout ratio (DPR) is 16.13%.

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 15,419 shares of the company’s 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 completion of the transaction, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Deirdre O’brien sold 15,419 shares of the company’s 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 completion of the transaction, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Luca Maestri sold 31,685 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $178.69, for a total value of $5,661,792.65. Following the completion of the transaction, the chief financial officer now directly owns 107,661 shares of the company’s stock, valued at $19,237,944.09. The disclosure for this sale can be found here. Insiders sold 455,004 shares of company stock valued at $79,238,767 over the last three months. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several recent research reports. Canaccord Genuity Group lifted their target price on shares of Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Piper Jaffray Companies lifted their target price on shares of Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, July 31st. Evercore ISI reaffirmed an “outperform” rating and set a $210.00 target price on shares of Apple in a research note on Thursday, September 28th. Canaccord Genuity Group lifted their target price on shares of Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Finally, Robert W. Baird lifted their price target on Apple from $180.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, August 1st. Nine research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.54.

Check Out Our Latest Report on AAPL

About Apple

(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.