Snider Financial Group Has $6.99 Million Position in Apple Inc. (NASDAQ:AAPL)

Snider Financial Group lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,006 shares of the iPhone maker’s stock after selling 818 shares during the quarter. Apple accounts for about 2.6% of Snider Financial Group’s portfolio, making the stock its 9th largest position. Snider Financial Group’s holdings in Apple were worth $6,991,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of AAPL. Bull Oak Capital LLC increased its stake in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares during the period. Hershey Financial Advisers LLC purchased a new position in Apple in the 2nd quarter worth about $42,000. Christopher J. Hasenberg Inc increased its stake in Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares during the period. ARK Investment Management LLC purchased a new position in Apple in the 3rd quarter worth about $110,000. Finally, Cordant Inc. increased its stake in Apple by 34.3% in the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after buying an additional 173 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple Trading Down 3.2 %

Shares of AAPL stock opened at $222.64 on Wednesday. The company’s 50-day moving average price is $241.12 and its 200-day moving average price is $230.85. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The stock has a market cap of $3.35 trillion, a price-to-earnings ratio of 36.62, a PEG ratio of 2.25 and a beta of 1.20. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS. As a group, equities analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 price target on shares of Apple in a research note on Friday, December 13th. Rosenblatt Securities lifted their price objective on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lowered their target price on shares of Apple from $265.00 to $260.00 and set an “overweight” rating for the company in a research note on Tuesday. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Citigroup lifted their price objective on shares of Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $238.02.

About Apple

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.