Michael S. Ryan Inc. Takes Position in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Nov 3rd, 2023

Michael S. Ryan Inc. purchased a new stake in Apple Inc. (NASDAQ:AAPL – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,075 shares of the iPhone maker’s stock, valued at approximately $1,362,000. Apple accounts for about 1.3% of Michael S. Ryan Inc.’s holdings, making the stock its 17th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parker Financial LLC boosted its holdings in shares of Apple by 1.2% in the 2nd quarter. Parker Financial LLC now owns 4,543 shares of the iPhone maker’s stock worth $881,000 after purchasing an additional 54 shares in the last quarter. MKT Advisors LLC lifted its holdings in Apple by 0.5% in the 2nd quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after buying an additional 60 shares during the period. Professional Financial Advisors LLC raised its position in shares of Apple by 0.5% in the 2nd quarter. Professional Financial Advisors LLC now owns 13,213 shares of the iPhone maker’s stock worth $2,563,000 after acquiring an additional 62 shares in the last quarter. Aspire Capital Advisors LLC raised its position in shares of Apple by 0.5% in the 1st quarter. Aspire Capital Advisors LLC now owns 14,076 shares of the iPhone maker’s stock worth $2,321,000 after acquiring an additional 64 shares in the last quarter. Finally, Legacy Financial Group LLC increased its position in Apple by 0.6% during the 2nd quarter. Legacy Financial Group LLC now owns 10,949 shares of the iPhone maker’s stock valued at $2,124,000 after buying an additional 64 shares in the last quarter. Institutional investors and hedge funds own 58.51% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on AAPL. Morgan Stanley reduced their price objective on Apple from $215.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, October 16th. StockNews.com initiated coverage on Apple in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. TD Cowen upped their price target on shares of Apple from $195.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, August 1st. Evercore ISI reissued an “outperform” rating and set a $210.00 target price on shares of Apple in a research note on Thursday, September 28th. Finally, Robert W. Baird raised their price target on shares of Apple from $180.00 to $204.00 and gave the company an “outperform” rating in a research note on Tuesday, August 1st. Ten equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.08.

Get Our Latest Report on Apple

Insiders Place Their Bets

In other news, CFO Luca Maestri sold 31,685 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 107,661 shares in the company, valued at $19,237,944.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other 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 completion of the sale, the senior vice president now directly owns 136,445 shares in the company, valued at $23,483,548.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Luca Maestri sold 31,685 shares of the business’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $178.69, for a total transaction of $5,661,792.65. Following the completion of the sale, the chief financial officer now 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 ninety days. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $177.57 on Friday. The company’s 50 day moving average price is $176.82 and its 200 day moving average price is $179.31. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23. The company has a market capitalization of $2.78 trillion, a PE ratio of 29.84, a PEG ratio of 2.37 and a beta of 1.30. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.92 and a current ratio of 0.98.

Apple (NASDAQ:AAPL – Get Free Report) last posted its earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 EPS for the quarter, topping the consensus estimate of $1.39 by $0.07. The company had revenue of $89.50 billion during the quarter, compared to the consensus estimate of $89.34 billion. Apple had a net margin of 24.68% and a return on equity of 164.92%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.29 earnings per share. Research analysts expect that Apple Inc. will post 6.04 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 13th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.54%. Apple’s dividend payout ratio is 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.