Auxano Advisors LLC Buys 564 Shares of Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Aug 9th, 2023

Auxano Advisors LLC boosted its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 1.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,766 shares of the iPhone maker’s stock after acquiring an additional 564 shares during the period. Apple accounts for about 3.7% of Auxano Advisors LLC’s holdings, making the stock its 7th biggest position. Auxano Advisors LLC’s holdings in Apple were worth $9,361,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC increased its position in Apple by 116,483.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock worth $74,002,245,000 after purchasing an additional 569,066,184 shares during the period. Norges Bank acquired a new position in Apple during the 4th quarter worth approximately $21,746,940,000. Morgan Stanley increased its position in Apple by 14.2% during the 4th quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock worth $27,110,586,000 after purchasing an additional 25,926,552 shares during the period. Vanguard Group Inc. increased its position in Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after purchasing an additional 8,734,393 shares during the period. Finally, AustralianSuper Pty Ltd acquired a new position in Apple during the 4th quarter worth approximately $1,075,599,000. Institutional investors and hedge funds own 57.89% of the company’s stock.

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $178.56, for a total value of $2,753,216.64. Following the completion of the sale, the senior vice president now directly owns 136,445 shares in the company, valued at approximately $24,363,619.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AAPL has been the topic of several recent analyst reports. Atlantic Securities boosted their target price on Apple from $180.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, May 5th. TD Cowen upped their price target on Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, August 1st. Monness Crespi & Hardt upped their price target on Apple from $174.00 to $188.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Evercore ISI upped their price target on Apple from $190.00 to $210.00 and gave the stock an “outperform” rating in a report on Monday, June 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $195.00 price target on shares of Apple in a report on Friday, August 4th. Ten equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $198.86.

Get Our Latest Analysis on AAPL

Apple Trading Up 0.5 %

Shares of AAPL opened at $179.80 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $2.83 trillion, a P/E ratio of 30.22, a price-to-earnings-growth ratio of 2.66 and a beta of 1.28. The stock’s fifty day simple moving average is $187.81 and its 200 day simple moving average is $169.26. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $198.23.

Apple (NASDAQ:AAPL – Get Free Report) last issued its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.07. The business had revenue of $81.80 billion for the quarter, compared to analyst estimates of $81.79 billion. Apple had a return on equity of 164.92% and a net margin of 24.68%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the company posted $1.20 EPS. On average, equities research analysts forecast that Apple Inc. will post 6.04 earnings per share for the current year.

Apple announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 4th that authorizes the company to repurchase $90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 14th will be issued a $0.24 dividend. The ex-dividend date is Friday, August 11th. This represents a $0.96 annualized dividend and a yield of 0.53%. Apple’s dividend payout ratio is currently 16.13%.

About Apple

(Free Report)

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.