Apple Inc. (NASDAQ:AAPL) is Security Financial Services INC.’s 9th Largest Position

Security Financial Services INC. lifted its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,893 shares of the iPhone maker’s stock after purchasing an additional 143 shares during the period. Apple accounts for 2.1% of Security Financial Services INC.’s investment portfolio, making the stock its 9th biggest holding. Security Financial Services INC.’s holdings in Apple were worth $6,616,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. State Street Corp grew its stake in Apple by 1.8% in the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $112,422,274,000 after buying an additional 10,951,705 shares in the last quarter. Geode Capital Management LLC grew its stake in Apple by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock valued at $46,812,958,000 after buying an additional 4,456,954 shares in the last quarter. Norges Bank purchased a new position in Apple in the 4th quarter valued at approximately $25,228,507,000. Charles Schwab Investment Management Inc. grew its stake in Apple by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker’s stock valued at $14,131,710,000 after buying an additional 1,273,148 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in Apple by 5.1% in the 4th quarter. Fisher Asset Management LLC now owns 63,982,104 shares of the iPhone maker’s stock valued at $11,361,302,000 after buying an additional 3,096,696 shares in the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AAPL shares. Sanford C. Bernstein set a $170.00 price objective on shares of Apple in a research note on Monday, May 2nd. Rosenblatt Securities reduced their price target on shares of Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday. The Goldman Sachs Group set a $139.00 price target on shares of Apple in a research report on Friday. Itau BBA Securities began coverage on shares of Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target for the company. Finally, Loop Capital reduced their price target on shares of Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, May 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $179.04.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total value of $4,043,000.00. Following the transaction, the senior vice president now owns 452,334 shares in the company, valued at $73,151,454.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $161.51 on Tuesday. The stock has a market cap of $2.61 trillion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 2.11 and a beta of 1.23. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The firm’s 50-day simple moving average is $144.68 and its two-hundred day simple moving average is $157.12.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The business had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.30 earnings per share. Analysts anticipate that Apple Inc. will post 6.08 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Monday, August 8th will be paid a $0.23 dividend. The ex-dividend date is Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.57%. Apple’s dividend payout ratio is presently 15.18%.

Apple declared that its Board of Directors has initiated a stock repurchase program on Thursday, April 28th that permits the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Apple Profile

(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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