Sand Hill Global Advisors LLC Increases Stake in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Sep 9th, 2023

Sand Hill Global Advisors LLC grew its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 0.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 161,682 shares of the iPhone maker’s stock after buying an additional 269 shares during the quarter. Apple accounts for 1.4% of Sand Hill Global Advisors LLC’s investment portfolio, making the stock its 14th largest holding. Sand Hill Global Advisors LLC’s holdings in Apple were worth $26,661,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Apple by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after purchasing an additional 8,734,393 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in shares of Apple by 116,483.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock valued at $74,002,245,000 after purchasing an additional 569,066,184 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Apple by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 282,749,817 shares of the iPhone maker’s stock valued at $36,671,884,000 after purchasing an additional 2,991,299 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Apple by 0.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 226,281,368 shares of the iPhone maker’s stock valued at $29,400,739,000 after purchasing an additional 1,417,827 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of Apple by 14.2% in the 4th quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock valued at $27,110,586,000 after purchasing an additional 25,926,552 shares in the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on AAPL shares. Wedbush reissued an “outperform” rating and issued a $230.00 price objective on shares of Apple in a research note on Thursday. 58.com reaffirmed a “maintains” rating on shares of Apple in a research note on Monday, June 5th. Jefferies Financial Group decreased their price target on shares of Apple from $225.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, August 4th. TD Cowen raised their price target on shares of Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 price target on shares of Apple in a research note on Thursday. Ten analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $198.72.

Read Our Latest Stock Analysis on AAPL

Apple Stock Up 0.3 %

AAPL stock opened at $178.18 on Friday. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $198.23. 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 company has a market capitalization of $2.79 trillion, a P/E ratio of 29.95, a PEG ratio of 2.67 and a beta of 1.27. The firm has a 50 day simple moving average of $186.26 and a 200-day simple moving average of $174.27.

Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. Apple had a net margin of 24.68% and a return on equity of 164.92%. The business had revenue of $81.80 billion during the quarter, compared to the consensus estimate of $81.79 billion. During the same quarter last year, the company earned $1.20 earnings per share. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post 6.05 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Friday, August 11th. Apple’s payout ratio is currently 16.13%.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O’brien sold 15,419 shares of Apple stock in a transaction on Monday, August 7th. The shares were sold at an average price of $178.56, for a total value of $2,753,216.64. Following the completion of the transaction, the senior vice president now owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.06% of the company’s stock.

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.