Onyx Bridge Wealth Group LLC Has $16.89 Million Position in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Oct 31st, 2023

Onyx Bridge Wealth Group LLC boosted its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 15.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,094 shares of the iPhone maker’s stock after buying an additional 11,521 shares during the period. Apple makes up approximately 4.0% of Onyx Bridge Wealth Group LLC’s portfolio, making the stock its 5th biggest position. Onyx Bridge Wealth Group LLC’s holdings in Apple were worth $16,894,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parker Financial LLC boosted its holdings in shares of Apple by 1.2% during the second quarter. Parker Financial LLC now owns 4,543 shares of the iPhone maker’s stock worth $881,000 after purchasing an additional 54 shares during the period. MKT Advisors LLC boosted its holdings in shares of Apple by 0.5% during the second quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after purchasing an additional 60 shares during the period. Professional Financial Advisors LLC boosted its holdings in shares of Apple by 0.5% during the second quarter. Professional Financial Advisors LLC now owns 13,213 shares of the iPhone maker’s stock worth $2,563,000 after purchasing an additional 62 shares during the period. Aspire Capital Advisors LLC boosted its holdings in shares of Apple by 0.5% during the first quarter. Aspire Capital Advisors LLC now owns 14,076 shares of the iPhone maker’s stock worth $2,321,000 after purchasing an additional 64 shares during the period. Finally, Legacy Financial Group LLC boosted its holdings in shares of Apple by 0.6% during the second quarter. Legacy Financial Group LLC now owns 10,949 shares of the iPhone maker’s stock worth $2,124,000 after purchasing an additional 64 shares during the period. 58.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Morgan Stanley dropped their target price on shares of Apple from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Monday, October 16th. Sanford C. Bernstein restated a “market perform” rating and issued a $195.00 price objective on shares of Apple in a report on Monday, October 9th. Canaccord Genuity Group raised their price objective on shares of Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, August 4th. KeyCorp restated a “sector weight” rating on shares of Apple in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 24th. Ten analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $198.80.

Get Our Latest Report on AAPL

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 65,536 shares of the business’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total value of $11,279,400.96. Following the sale, the senior vice president now owns 136,445 shares in the company, valued at approximately $23,483,548.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Apple news, SVP Deirdre O’brien sold 65,536 shares of the business’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total value of $11,279,400.96. Following the sale, the senior vice president now owns 136,445 shares in the company, valued at approximately $23,483,548.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 240,569 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the completion of the sale, the chief executive officer now owns 3,280,053 shares in the company, valued at $565,809,142.50. The disclosure for this sale can be found here. Insiders have sold a total of 455,004 shares of company stock worth $79,238,767 in the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Up 1.2 %

Shares of Apple stock opened at $170.29 on Tuesday. The company’s fifty day simple moving average is $177.09 and its 200-day simple moving average is $179.31. The stock has a market capitalization of $2.66 trillion, a PE ratio of 28.62, a P/E/G ratio of 2.33 and a beta of 1.28. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $198.23. 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 (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $81.79 billion. During the same quarter in the previous year, the company earned $1.20 EPS. Apple’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities analysts anticipate that Apple Inc. will post 6.04 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Friday, August 11th. Apple’s payout ratio is currently 16.13%.

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.