Apple Inc. (NASDAQ:AAPL) is Wealth Advisors of Iowa LLC’s 6th Largest Position

Posted by Defense World Staff on Oct 30th, 2023

Wealth Advisors of Iowa LLC boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,881 shares of the iPhone maker’s stock after acquiring an additional 322 shares during the period. Apple accounts for about 2.6% of Wealth Advisors of Iowa LLC’s investment portfolio, making the stock its 6th largest holding. Wealth Advisors of Iowa LLC’s holdings in Apple were worth $3,662,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Apple by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after buying an additional 8,734,393 shares during the last quarter. Berkshire Hathaway Inc raised its holdings in 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 buying an additional 20,424,207 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in Apple by 116,483.5% in 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 buying an additional 569,066,184 shares during the last quarter. Geode Capital Management LLC raised its holdings in Apple by 0.9% in the first quarter. Geode Capital Management LLC now owns 285,171,112 shares of the iPhone maker’s stock worth $46,918,015,000 after buying an additional 2,421,295 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Apple by 3.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 234,017,381 shares of the iPhone maker’s stock worth $38,589,468,000 after buying an additional 7,736,013 shares during the last quarter. 58.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on AAPL shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Apple in a report on Thursday, September 21st. Wedbush lifted their price target on shares of Apple from $230.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 13th. Canaccord Genuity Group lifted their price target on shares of Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Canaccord Genuity Group lifted their price target on shares of Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $210.00 price target on shares of Apple in a research note on Thursday, September 28th. Nine research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $199.40.

Check Out Our Latest Stock Analysis on Apple

Apple Stock Performance

NASDAQ:AAPL opened at $168.22 on Monday. 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 50-day moving average price of $177.20 and a two-hundred day moving average price of $179.14. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $198.23. The company has a market capitalization of $2.63 trillion, a P/E ratio of 28.27, a price-to-earnings-growth ratio of 2.33 and a beta of 1.28.

Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings results 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 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 period in the previous year, the firm posted $1.20 earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, research analysts expect that Apple Inc. will post 6.04 earnings per share for the current fiscal year.

Apple Dividend Announcement

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 dividend of $0.24 per share. The ex-dividend date was Friday, August 11th. This represents a $0.96 annualized dividend and a yield of 0.57%. Apple’s dividend payout ratio is currently 16.13%.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the chief executive officer now directly owns 3,280,053 shares in the company, valued at $565,809,142.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the sale, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 240,569 shares of the stock in a transaction on Tuesday, October 3rd. The stock was 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 $565,809,142.50. The disclosure for this sale can be found here. Insiders sold a total of 455,004 shares of company stock worth $79,238,767 over the last ninety days. 0.06% of the stock is owned by company insiders.

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.