Diversified Portfolios Inc. Acquires 483 Shares of Apple Inc. (NASDAQ:AAPL)

Diversified Portfolios Inc. lifted its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,756 shares of the iPhone maker’s stock after acquiring an additional 483 shares during the quarter. Diversified Portfolios Inc.’s holdings in Apple were worth $4,959,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AAPL. Allen Capital Group LLC boosted its position in Apple by 3.6% during the 4th quarter. Allen Capital Group LLC now owns 84,098 shares of the iPhone maker’s stock valued at $16,191,000 after acquiring an additional 2,939 shares in the last quarter. Macroview Investment Management LLC grew its stake in Apple by 7.5% during the 4th quarter. Macroview Investment Management LLC now owns 8,207 shares of the iPhone maker’s stock worth $1,580,000 after buying an additional 570 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Apple by 1.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,317,166 shares of the iPhone maker’s stock worth $1,408,774,000 after acquiring an additional 84,980 shares during the last quarter. West Paces Advisors Inc. grew its position in Apple by 0.5% during the 4th quarter. West Paces Advisors Inc. now owns 25,043 shares of the iPhone maker’s stock worth $4,821,000 after purchasing an additional 128 shares during the last quarter. Finally, Ergawealth Advisors Inc. increased its position in shares of Apple by 11.9% in the 4th quarter. Ergawealth Advisors Inc. now owns 26,401 shares of the iPhone maker’s stock valued at $5,083,000 after acquiring an additional 2,817 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other news, CFO Luca Maestri sold 53,194 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $18,768,046.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Apple news, CFO Luca Maestri sold 53,194 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $174.12, for a total value of $9,262,139.28. Following the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $18,768,046.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the transaction, the director now directly owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The disclosure for this sale can be found here. Insiders have sold 366,271 shares of company stock worth $63,653,887 over the last quarter. 0.06% of the stock is currently owned by company insiders.

Apple Trading Up 1.2 %

Shares of AAPL stock opened at $189.72 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $199.62. The company’s 50-day moving average price is $173.33 and its 200-day moving average price is $182.34. The stock has a market cap of $2.91 trillion, a price-to-earnings ratio of 29.51, a PEG ratio of 2.24 and a beta of 1.26.

Apple (NASDAQ:AAPLGet Free Report) last posted its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. The company had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. Apple’s revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.52 EPS. As a group, equities analysts predict that Apple Inc. will post 6.57 earnings per share for the current year.

Apple declared that its board has approved a stock buyback program on Thursday, May 2nd that allows the company to repurchase $110.00 billion in shares. This repurchase authorization allows the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 13th will be paid a dividend of $0.25 per share. This is a boost from Apple’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.00 annualized dividend and a yield of 0.53%. Apple’s dividend payout ratio (DPR) is 15.55%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AAPL shares. The Goldman Sachs Group increased their price target on shares of Apple from $223.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Barclays lifted their price objective on Apple from $158.00 to $164.00 and gave the company an “underweight” rating in a research note on Friday, May 3rd. Piper Sandler lowered their target price on Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. Oppenheimer reiterated an “outperform” rating and set a $200.00 price target on shares of Apple in a research report on Friday, February 2nd. Finally, Canaccord Genuity Group upped their price objective on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Saturday, May 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.11.

Get Our Latest Report on AAPL

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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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