Bond & Devick Financial Network Inc. Has $1.62 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Bond & Devick Financial Network Inc. reduced its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,295 shares of the iPhone maker’s stock after selling 80 shares during the quarter. Apple accounts for approximately 1.3% of Bond & Devick Financial Network Inc.’s holdings, making the stock its 16th biggest position. Bond & Devick Financial Network Inc.’s holdings in Apple were worth $1,623,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AAPL. Cardinal Capital Management Inc. increased its holdings in Apple by 5,525.0% in the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after buying an additional 221 shares during the period. Shore Point Advisors LLC bought a new stake in shares of Apple in the 4th quarter worth about $41,000. St. James Investment Advisors LLC bought a new stake in shares of Apple in the 4th quarter worth about $57,000. Econ Financial Services Corp bought a new stake in shares of Apple in the 4th quarter worth about $58,000. Finally, Emerson Wealth LLC grew its holdings in shares of Apple by 363.6% in the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after purchasing an additional 320 shares during the last quarter. 57.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Credit Suisse Group set a $169.00 target price on shares of Apple in a report on Friday, April 29th. Piper Sandler lowered their target price on shares of Apple from $200.00 to $195.00 in a report on Friday, April 29th. Citigroup lowered their target price on shares of Apple from $200.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, July 13th. UBS Group set a $185.00 target price on shares of Apple in a report on Thursday, July 21st. Finally, The Goldman Sachs Group set a $130.00 price target on shares of Apple in a research report on Tuesday, July 19th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $179.64.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total transaction of $4,043,000.00. Following the completion of the sale, the senior vice president now directly owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $151.60 on Wednesday. The company has a market capitalization of $2.45 trillion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 2.00 and a beta of 1.19. The firm’s 50 day simple moving average is $143.09 and its 200 day simple moving average is $157.63. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.88. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.09. The business had revenue of $97.28 billion for the quarter, compared to the consensus estimate of $93.99 billion. Apple had a net margin of 26.41% and a return on equity of 152.88%. Apple’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the company posted $1.40 EPS. As a group, sell-side analysts forecast that Apple Inc. will post 6.09 earnings per share for the current year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Investors of record on Monday, May 9th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. This is a boost from Apple’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, May 6th. Apple’s dividend payout ratio is presently 14.94%.

Apple announced that its board has initiated a share repurchase program on Thursday, April 28th that allows the company to buyback $90.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

About Apple

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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