Snider Financial Group Grows Stock Position in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Oct 16th, 2023

Snider Financial Group raised its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 1.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 23,519 shares of the iPhone maker’s stock after buying an additional 431 shares during the period. Apple comprises about 2.2% of Snider Financial Group’s portfolio, making the stock its 13th largest holding. Snider Financial Group’s holdings in Apple were worth $4,562,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Ilmarinen Mutual Pension Insurance Co grew its position in shares of Apple by 8.3% during the 1st quarter. Ilmarinen Mutual Pension Insurance Co now owns 785,000 shares of the iPhone maker’s stock valued at $129,447,000 after acquiring an additional 60,000 shares during the period. Arista Wealth Management LLC grew its position in shares of Apple by 1.0% during the 1st quarter. Arista Wealth Management LLC now owns 26,680 shares of the iPhone maker’s stock valued at $4,399,000 after acquiring an additional 261 shares during the period. Thrivent Financial for Lutherans grew 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 valued at $646,332,000 after acquiring an additional 89,615 shares during the period. My Personal CFO LLC boosted its holdings in Apple by 4.1% in the 2nd quarter. My Personal CFO LLC now owns 26,276 shares of the iPhone maker’s stock worth $5,097,000 after buying an additional 1,047 shares during the last quarter. Finally, M. Kraus & Co boosted its holdings in Apple by 0.9% in the 2nd quarter. M. Kraus & Co now owns 29,416 shares of the iPhone maker’s stock worth $5,706,000 after buying an additional 276 shares during the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Insider Activity

In other news, SVP Deirdre O’brien sold 15,419 shares of the company’s stock in a transaction dated 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 completion of the sale, 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 available through this link. In related news, CFO Luca Maestri sold 31,685 shares of the stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $178.69, for a total transaction 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 transaction was disclosed in a filing 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 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 of the company’s stock, valued at $24,363,619.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 455,004 shares of company stock valued at $79,238,767. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $178.85 on Monday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.98 and a quick ratio of 0.92. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $198.23. The company has a market capitalization of $2.80 trillion, a PE ratio of 30.06, a P/E/G ratio of 2.40 and a beta of 1.28. The company has a fifty day moving average of $178.04 and a two-hundred day moving average of $178.59.

Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.07. Apple had a net margin of 24.68% and a return on equity of 164.92%. The company 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 firm posted $1.20 earnings per share. Apple’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, analysts expect that Apple Inc. will post 6.05 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were issued a $0.24 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.54%. Apple’s payout ratio is 16.13%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AAPL. Barclays reiterated an “equal weight” rating and issued a $167.00 price objective on shares of Apple in a report on Monday, October 9th. Canaccord Genuity Group lifted their price objective on Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Needham & Company LLC restated a “buy” rating and set a $195.00 target price on shares of Apple in a report on Wednesday, September 13th. Piper Jaffray Companies boosted their target price on Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, July 31st. Finally, Raymond James boosted their target price on Apple from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Nine investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.54.

Check Out Our Latest Analysis on Apple

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.