Diversified Trust Co Increases Stock Holdings in Apple Inc. $AAPL

Diversified Trust Co grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.8% in the first quarter, HoldingsChannel reports. The fund owned 698,440 shares of the iPhone maker’s stock after buying an additional 19,001 shares during the period. Apple makes up about 3.3% of Diversified Trust Co’s portfolio, making the stock its 6th largest holding. Diversified Trust Co’s holdings in Apple were worth $177,257,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of AAPL. Lifetime Wealth Management P.C. bought a new position in Apple in the 4th quarter valued at about $41,000. ROSS JOHNSON & Associates LLC raised its position in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares in the last quarter. Timmons Wealth Management LLC bought a new stake in shares of Apple during the 4th quarter worth about $69,000. LSV Asset Management acquired a new stake in shares of Apple in the 4th quarter worth approximately $65,000. Finally, Inspire Investing LLC acquired a new stake in shares of Apple in the 4th quarter worth approximately $76,000. Institutional investors own 67.73% of the company’s stock.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s new Siri and broader AI reset is being viewed positively by analysts, with BofA reiterating a Buy rating and saying the WWDC update could strengthen Apple’s AI position and support the stock. BofA Says Apple’s (AAPL) New Siri Strategy Could Strengthen its AI Position
• Positive Sentiment: Apple’s reported chip partnership with Intel is being framed as strategically important, with investors focused on supply-chain diversification and a longer-term domestic chip roadmap that could benefit future product cycles. Apple-Intel chip deal makes strategic sense but production is years away
• Positive Sentiment: Several market commentaries say Apple shares are building toward a possible breakout, with the stock staying close to its all-time high and forming a fresh buy zone as momentum improves. Apple Stock Polishing New Buy Zone With All-Time High In Sight
• Neutral Sentiment: Apple is also drawing attention for comments from Eddy Cue about expanding entertainment offerings on Apple TV and in theaters, which supports the long-term services story but is not an immediate earnings catalyst. Apple aims for better and more entertainment offerings, executive Cue says
• Negative Sentiment: Investors are still weighing headwinds from rising memory costs and the possibility of iPhone price increases, which could pressure demand if Apple passes through higher component prices. Apple Price Hike Fears May Be Overblown, Says J.P. Morgan
• Negative Sentiment: Apple also faces legal overhang after a UK tribunal allowed a $4 billion iCloud class-action lawsuit to proceed, adding another potential regulatory and financial risk. Apple supplier Lingyi iTech prices $1.06 billion Hong Kong IPO to tap AI demand

Analyst Ratings Changes

A number of research analysts recently commented on AAPL shares. Wells Fargo & Company reiterated an “overweight” rating and set a $310.00 price objective (up from $300.00) on shares of Apple in a research note on Friday, May 1st. Oppenheimer restated a “market perform” rating on shares of Apple in a research report on Tuesday, June 9th. Bank of America reaffirmed a “buy” rating and set a $380.00 price target on shares of Apple in a research note on Thursday, June 18th. KGI Securities cut Apple from an “outperform” rating to a “hold” rating and set a $315.00 price target on the stock. in a research report on Monday. Finally, Evercore reissued an “outperform” rating on shares of Apple in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.85.

Insider Buying and Selling

In related news, insider Ben Borders sold 116 shares of Apple stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the transaction, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Deirdre O’brien sold 30,002 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total value of $7,661,010.70. Following the sale, the senior vice president directly owned 136,810 shares in the company, valued at $34,934,433.50. This trade represents a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 97,875 shares of company stock worth $24,998,541 over the last quarter. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

Shares of AAPL opened at $293.05 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The firm’s 50 day moving average is $291.83 and its 200-day moving average is $273.15. Apple Inc. has a 12-month low of $199.26 and a 12-month high of $317.40. The stock has a market capitalization of $4.30 trillion, a P/E ratio of 35.44, a P/E/G ratio of 2.56 and a beta of 1.09.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating the consensus estimate of $1.95 by $0.06. The business had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.65 earnings per share. Equities research analysts anticipate that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a $0.27 dividend. This is an increase from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, May 11th. Apple’s dividend payout ratio is currently 13.06%.

Apple Company Profile

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.