Ronald Blue Trust Inc. Has $22.68 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Oct 5th, 2023

Ronald Blue Trust Inc. reduced its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 6.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 137,520 shares of the iPhone maker’s stock after selling 8,881 shares during the period. Ronald Blue Trust Inc.’s holdings in Apple were worth $22,677,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC grew its stake in shares of Apple by 116,483.5% during the fourth 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 bought a new stake in shares of Apple in the fourth quarter valued at about $21,746,940,000. Morgan Stanley lifted its holdings in shares of Apple by 14.2% in the fourth 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. Berkshire Hathaway Inc raised its holdings in Apple by 2.3% during the first quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock worth $150,975,907,000 after acquiring an additional 20,424,207 shares in the last quarter. Finally, Providence Capital Advisors LLC raised its holdings in Apple by 16,638.6% during the first quarter. Providence Capital Advisors LLC now owns 15,593,974 shares of the iPhone maker’s stock worth $94,566,000 after acquiring an additional 15,500,812 shares in the last quarter. 58.51% of the stock is owned by institutional investors and hedge funds.

Apple Stock Up 0.7 %

Shares of AAPL opened at $173.66 on Thursday. 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 stock’s 50-day moving average price is $179.99 and its two-hundred day moving average price is $177.49. The company has a market capitalization of $2.72 trillion, a PE ratio of 29.19, a PEG ratio of 2.33 and a beta of 1.28. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $198.23.

Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. Apple had a return on equity of 164.92% and a net margin of 24.68%. The firm had revenue of $81.80 billion during the quarter, compared to analyst estimates of $81.79 billion. During the same period in the previous year, the company posted $1.20 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, analysts anticipate that Apple Inc. will post 6.05 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.55%. Apple’s payout ratio is presently 16.13%.

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 65,536 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total value of $11,279,400.96. Following the transaction, the senior vice president now owns 136,445 shares in the company, valued at $23,483,548.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Deirdre O’brien sold 65,536 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total value of $11,279,400.96. Following the transaction, the senior vice president now owns 136,445 shares in the company, valued at $23,483,548.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 240,569 shares of the business’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the sale, the chief executive officer now directly owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The disclosure for this sale can be found here. Insiders have sold 321,524 shares of company stock worth $55,530,770 in the last 90 days. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of recent analyst reports. The Goldman Sachs Group lowered their price target on Apple from $222.00 to $216.00 and set a “buy” rating on the stock in a research report on Wednesday, September 13th. Raymond James upped their target price on Apple from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Evercore ISI reaffirmed an “outperform” rating and issued a $210.00 target price on shares of Apple in a research report on Thursday, September 28th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $198.00 target price on shares of Apple in a research report on Tuesday, September 12th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $190.00 target price on shares of Apple in a research report on Wednesday, September 27th. Nine equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.54.

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Apple 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.