Apple Inc. (NASDAQ:AAPL) is Diversified Trust Co’s 7th Largest Position

Posted by Defense World Staff on Oct 12th, 2023

Diversified Trust Co lifted its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 6.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 487,614 shares of the iPhone maker’s stock after purchasing an additional 29,474 shares during the period. Apple comprises 3.5% of Diversified Trust Co’s holdings, making the stock its 7th biggest position. Diversified Trust Co’s holdings in Apple were worth $94,583,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. MKT Advisors LLC boosted its holdings in Apple by 0.5% during the second quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after buying an additional 60 shares during the last quarter. Professional Financial Advisors LLC boosted its holdings in Apple by 0.5% during the second quarter. Professional Financial Advisors LLC now owns 13,213 shares of the iPhone maker’s stock worth $2,563,000 after buying an additional 62 shares during the last quarter. Aspire Capital Advisors LLC boosted its holdings in Apple by 0.5% during the first quarter. Aspire Capital Advisors LLC now owns 14,076 shares of the iPhone maker’s stock worth $2,321,000 after buying an additional 64 shares during the last quarter. Orgel Wealth Management LLC boosted its holdings in Apple by 0.7% during the second quarter. Orgel Wealth Management LLC now owns 8,926 shares of the iPhone maker’s stock worth $1,731,000 after buying an additional 66 shares during the last quarter. Finally, Freedom Wealth Alliance LLC boosted its holdings in Apple by 0.4% during the first quarter. Freedom Wealth Alliance LLC now owns 16,091 shares of the iPhone maker’s stock worth $2,653,000 after buying an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $179.80 on Thursday. The stock has a 50 day moving average of $178.31 and a 200-day moving average of $178.16. The company has a market capitalization of $2.81 trillion, a P/E ratio of 30.22, a P/E/G ratio of 2.40 and a beta of 1.28. Apple Inc. has a 12 month low of $124.17 and a 12 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.

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 (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.07. The business 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 firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 EPS. As a group, equities research analysts predict that Apple Inc. will post 6.05 EPS for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors 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 annualized dividend and a yield of 0.53%. Apple’s dividend payout ratio (DPR) is presently 16.13%.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 240,569 shares of the business’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 sale, the chief executive officer now directly owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Deirdre O’brien sold 15,419 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $178.56, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 240,569 shares of the company’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total value of $41,498,152.50. Following the sale, the chief executive officer now owns 3,280,053 shares of the company’s stock, valued at $565,809,142.50. The disclosure for this sale can be found here. Insiders sold 455,004 shares of company stock worth $79,238,767 in the last ninety days. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AAPL. Wells Fargo & Company raised their target price on Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 24th. Needham & Company LLC restated a “buy” rating and set a $195.00 target price on shares of Apple in a report on Wednesday, September 13th. Sanford C. Bernstein restated a “market perform” rating and set a $195.00 target price on shares of Apple in a report on Monday. Bank of America reiterated a “neutral” rating and set a $208.00 price objective on shares of Apple in a report on Friday, September 22nd. Finally, Tigress Financial lifted their price objective on Apple from $210.00 to $225.00 in a report on Friday, June 23rd. Nine equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $200.54.

Get Our Latest Research Report on AAPL

Apple 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.