Apple Inc. (NASDAQ:AAPL) is Snider Financial Group's 6th Largest Position

Snider Financial Group trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 5.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,421 shares of the iPhone maker's stock after selling 2,356 shares during the quarter. Apple accounts for about 3.2% of Snider Financial Group's investment portfolio, making the stock its 6th biggest position. Snider Financial Group's holdings in Apple were worth $9,867,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Drystone LLC bought a new stake in shares of Apple in the 4th quarter worth about $25,000. Life Planning Partners Inc acquired a new position in Apple in the fourth quarter worth about $47,000. Conquis Financial LLC bought a new stake in Apple in the fourth quarter valued at about $63,000. LSV Asset Management acquired a new stake in Apple during the fourth quarter valued at approximately $65,000. Finally, Pillar Financial Advisors LLC bought a new position in Apple during the 4th quarter worth approximately $82,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,486 shares of Apple stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the transaction, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the company's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total value of $941,420.00. Following the completion of the transaction, the chief financial officer directly owned 4,569 shares in the company, valued at $941,214. This represents a 50.01% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Rosenblatt Securities lowered Apple from a "buy" rating to a "neutral" rating and set a $217.00 price target on the stock. in a research report on Friday, May 2nd. Tigress Financial boosted their target price on shares of Apple from $295.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Thursday, April 3rd. Jefferies Financial Group upgraded shares of Apple from an "underperform" rating to a "hold" rating and raised their price target for the stock from $170.62 to $188.32 in a research report on Tuesday. UBS Group set a $210.00 price objective on shares of Apple and gave the company a "neutral" rating in a research report on Thursday. Finally, Wedbush reiterated an "outperform" rating and set a $270.00 price objective on shares of Apple in a research note on Tuesday, June 10th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $234.95.

Apple Trading Up 0.4%

Shares of Apple stock opened at $213.36 on Friday. The business has a fifty day simple moving average of $203.35 and a 200-day simple moving average of $218.86. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The firm has a market cap of $3.19 trillion, a price-to-earnings ratio of 33.23, a price-to-earnings-growth ratio of 2.38 and a beta of 1.20. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 1.18.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The firm had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. During the same period in the previous year, the business earned $1.53 earnings per share. Apple's revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its Board of Directors has initiated a share repurchase program on Thursday, May 1st that authorizes the company to buyback $100.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 12th were issued a $0.26 dividend. This is an increase from Apple's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, May 12th. Apple's payout ratio is presently 16.20%.

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.

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