Investment Advisory Group LLC Grows Stock Position in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Oct 6th, 2023

Investment Advisory Group LLC raised its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 13.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,097 shares of the iPhone maker’s stock after acquiring an additional 3,975 shares during the period. Apple comprises 3.4% of Investment Advisory Group LLC’s holdings, making the stock its 6th biggest holding. Investment Advisory Group LLC’s holdings in Apple were worth $6,614,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC boosted 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 valued at $74,002,245,000 after purchasing an additional 569,066,184 shares in the last quarter. Norges Bank acquired a new stake in shares of Apple during the fourth quarter valued at about $21,746,940,000. Morgan Stanley lifted its stake 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 worth $27,110,586,000 after acquiring an additional 25,926,552 shares during the period. Berkshire Hathaway Inc lifted its stake in shares of Apple by 2.3% in 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 during the period. Finally, Providence Capital Advisors LLC lifted its stake in shares of Apple by 16,638.6% in 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 during the period. Institutional investors own 58.51% of the company’s stock.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 240,569 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the completion of the transaction, the chief executive officer now owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Apple news, CEO Timothy D. Cook sold 240,569 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the completion of the transaction, the chief executive officer now owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 65,536 shares of the company’s stock in a transaction on Tuesday, October 3rd. The shares were 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 directly owns 136,445 shares in the company, valued at approximately $23,483,548.95. The disclosure for this sale can be found here. Insiders sold 321,524 shares of company stock worth $55,530,770 in the last quarter. 0.06% of the stock is currently owned by company insiders.

Apple Trading Up 0.7 %

Shares of Apple stock opened at $174.91 on Friday. The stock has a fifty day simple moving average of $179.63 and a 200 day simple moving average of $177.47. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $198.23. The company has a market capitalization of $2.73 trillion, a P/E ratio of 29.40, a price-to-earnings-growth ratio of 2.31 and a beta of 1.28. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.63.

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

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders 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 yield of 0.55%. Apple’s dividend payout ratio (DPR) is presently 16.13%.

Analyst Ratings Changes

AAPL has been the topic of a number of recent analyst reports. Bank of America reaffirmed a “neutral” rating and issued a $208.00 price objective on shares of Apple in a research note on Friday, September 22nd. The Goldman Sachs Group cut their price objective on Apple from $222.00 to $216.00 and set a “buy” rating on the stock in a research note on Wednesday, September 13th. Wedbush lifted their price objective on Apple from $230.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 13th. Oppenheimer lifted their price objective on Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Finally, Citigroup reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Apple in a research note on Friday, August 4th. Nine research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $200.54.

View Our Latest Stock Report on Apple

Apple Company Profile

(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.