Security Financial Services INC. increased its stake in shares of Apple Inc. (NASDAQ: AAPL – Get Rating) by 0.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The company held 37,893 shares of the iPhone maker after buying an additional 143 shares during the period. Apple represents 2.1% of Security Financial Services INC.’s portfolio, making the stock its 9th largest holding. The holdings of Security Financial Services INC. in Apple were worth $6,616,000 when it was last filed with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently increased or reduced their stakes in the company. State Street Corp raised its position in Apple by 1.8% in the fourth quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker worth $112,422,274,000 after acquiring an additional 10,951,705 shares during the period. Geode Capital Management LLC raised its position in Apple by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker worth $46,812,958,000 after acquiring an additional 4,456,954 shares during the period. Norges Bank bought a new position in Apple in the fourth quarter worth approximately $25,228,507,000. Charles Schwab Investment Management Inc. raised its position in Apple by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker worth $14,131,710,000 after acquiring an additional 1,273,148 shares during the period. Finally, Fisher Asset Management LLC increased its position in Apple by 5.1% in the fourth quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker worth $11,361,302,000 after acquiring an additional 3,096,696 shares during the period. Institutional investors hold 57.98% of the company’s shares.
Changes to analyst ratings
AAPL has been the subject of several recent research reports. Raymond James cut his price target on Apple shares from $190.00 to $185.00 and placed a “hold” rating on the stock in a research report on Friday. Loop Capital cut its price target on Apple shares from $210.00 to $180.00 and set a “buy” rating for the company in a Wednesday, May 25 research note. UBS Group set a price target of $185.00 on Apple shares in a Thursday, July 21 research note. Barclays raised its price target on Apple shares from $166.00 to $169.00 and gave the stock a “holding” rating in a research note on Friday. Finally, Evercore ISI raised its price target on Apple shares from $180.00 to $185.00 in a research note on Friday. Two analysts have assigned the stock a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has assigned the company a strong buy rating. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $179.04.
Apple price performance
AAPL stock opened at $161.51 on Tuesday. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt ratio of 1.63. The company has a fifty-day simple moving average of $144.68 and a two-hundred-day simple moving average of $157.12. The company has a market capitalization of $2.61 trillion, a P/E ratio of 26.65, a price-to-earnings growth ratio of 2.11 and a beta of 1.23.
Apple (NASDAQ:AAPL – Get Rating) last released its results on Thursday, July 28. The iPhone maker reported earnings per share (EPS) of $1.20 for the quarter, beating the consensus estimate of $1.14 by $0.06. The company posted revenue of $82.96 billion in the quarter, versus analyst estimates of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company’s revenue increased 1.9% year-over-year. In the same quarter last year, the company achieved EPS of $1.30. Analysts expect Apple Inc. to post earnings per share of 6.08 for the current fiscal year.
Apple announces dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 11. Shareholders of record on Monday August 8 will receive a dividend of $0.23. The ex-dividend date is Friday, August 5. This represents an annualized dividend of $0.92 and a dividend yield of 0.57%. Apple’s dividend payout ratio (DPR) is currently 15.18%.
Apple announced that its board launched a stock repurchase program on Thursday, April 28 that allows the company to repurchase $90.00 billion worth of stock. This repurchase authorization allows the iPhone maker to purchase up to 3.5% of its shares through open market purchases. Stock buyback programs are usually a sign that a company’s management believes its stock is undervalued.
Insider trading at Apple
In other news, SVP Katherine L. Adams sold 25,000 shares of the company in a trade dated Wednesday, May 4. The shares were sold at an average price of $161.72, for a total value of $4,043,000.00. Following the completion of the sale, the senior vice president now owns 452,334 shares of the company, valued at approximately $73,151,454.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via this hyperlink. Insiders of the company hold 0.06% of the shares of the company.
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Apple Inc designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories worldwide. It also sells various related services. Additionally, the company offers iPhone, a range of smartphones; Mac, a line of personal computers; iPad, a range of versatile tablets; AirPods Max, an over-ear wireless headset; and wearables, home and accessories including AirPods, Apple TV, Apple Watch, Beats products, HomePod and iPod touch.
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