25,513 Shares in Apple Inc. (NASDAQ:AAPL) Acquired by DDFG Inc

Posted by Defense World Staff on Jun 18th, 2023

DDFG Inc acquired a new position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 25,513 shares of the iPhone maker’s stock, valued at approximately $3,315,000. Apple comprises about 1.4% of DDFG Inc’s portfolio, making the stock its 21st biggest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Cassia Capital Partners LLC raised its holdings in Apple by 24.3% during the 4th quarter. Cassia Capital Partners LLC now owns 5,009 shares of the iPhone maker’s stock worth $651,000 after buying an additional 979 shares during the period. Starfox Financial Services LLC raised its holdings in Apple by 21.5% during the 4th quarter. Starfox Financial Services LLC now owns 1,900 shares of the iPhone maker’s stock worth $247,000 after buying an additional 336 shares during the period. Hoxton Planning & Management LLC acquired a new stake in Apple during the 4th quarter worth approximately $3,148,000. Factory Mutual Insurance Co. raised its holdings in Apple by 5.2% during the 4th quarter. Factory Mutual Insurance Co. now owns 2,340,129 shares of the iPhone maker’s stock worth $304,053,000 after buying an additional 115,929 shares during the period. Finally, Blueshift Asset Management LLC acquired a new stake in Apple during the 3rd quarter worth approximately $563,000. Institutional investors own 57.60% of the company’s stock.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,092 shares of the business’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $173.26, for a total transaction of $708,979.92. Following the completion of the transaction, the insider now owns 33,946 shares of the company’s stock, valued at $5,881,483.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Apple news, COO Jeffrey E. Williams sold 77,817 shares of the business’s stock in a transaction dated Tuesday, April 4th. The stock was sold at an average price of $166.11, for a total transaction of $12,926,181.87. Following the completion of the transaction, the chief operating officer now owns 489,816 shares of the company’s stock, valued at $81,363,335.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,092 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $173.26, for a total value of $708,979.92. Following the completion of the transaction, the insider now directly owns 33,946 shares of the company’s stock, valued at approximately $5,881,483.96. The disclosure for this sale can be found here. Insiders sold a total of 439,529 shares of company stock valued at $71,703,657 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Apple Stock Down 0.6 %

AAPL stock opened at $184.92 on Friday. The company has a market cap of $2.91 trillion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 2.48 and a beta of 1.29. The business has a 50-day simple moving average of $172.60 and a 200 day simple moving average of $155.21. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $186.99. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.56.

Apple (NASDAQ:AAPL – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The iPhone maker reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. The business had revenue of $94.84 billion during the quarter, compared to the consensus estimate of $92.84 billion. Apple had a return on equity of 165.72% and a net margin of 24.49%. Apple’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.52 earnings per share. Sell-side analysts anticipate that Apple Inc. will post 5.99 EPS for the current fiscal year.

Apple declared that its board has initiated a stock buyback plan on Thursday, May 4th that permits the company to repurchase $90.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 15th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Friday, May 12th. This is an increase from Apple’s previous quarterly dividend of $0.23. Apple’s payout ratio is 16.30%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wedbush restated an “outperform” rating and set a $205.00 target price on shares of Apple in a report on Monday, April 17th. Loop Capital downgraded shares of Apple from a “buy” rating to a “hold” rating and set a $180.00 target price on the stock. in a report on Monday, May 22nd. Needham & Company LLC lifted their price objective on shares of Apple from $170.00 to $195.00 and gave the company a “buy” rating in a report on Friday, May 5th. Fundamental Research set a $183.86 price objective on shares of Apple and gave the company a “buy” rating in a report on Wednesday, May 17th. Finally, Monness Crespi & Hardt lifted their price objective on shares of Apple from $174.00 to $188.00 and gave the company a “buy” rating in a report on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $177.40.

Apple Company Profile

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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.