Diversified Portfolios Inc. Has $7.89 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Diversified Portfolios Inc. grew its position in Apple Inc. (NASDAQ:AAPL) by 35.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 33,859 shares of the iPhone maker’s stock after buying an additional 8,893 shares during the period. Apple makes up 0.9% of Diversified Portfolios Inc.’s portfolio, making the stock its 27th largest position. Diversified Portfolios Inc.’s holdings in Apple were worth $7,889,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bull Oak Capital LLC raised its holdings in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares during the period. Hershey Financial Advisers LLC bought a new position in Apple during the 2nd quarter worth about $42,000. Christopher J. Hasenberg Inc increased its holdings in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares in the last quarter. ARK Investment Management LLC acquired a new stake in shares of Apple in the 3rd quarter valued at about $110,000. Finally, Cordant Inc. lifted its holdings in shares of Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after purchasing an additional 173 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Apple Price Performance

Shares of Apple stock opened at $223.83 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $3.37 trillion, a price-to-earnings ratio of 36.81, a price-to-earnings-growth ratio of 2.25 and a beta of 1.20. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The company has a 50-day simple moving average of $241.09 and a two-hundred day simple moving average of $230.82.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.46 earnings per share. Analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AAPL. Maxim Group lifted their target price on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Bank of America reissued a “buy” rating and issued a $256.00 price objective on shares of Apple in a research report on Friday, January 3rd. Sanford C. Bernstein increased their target price on shares of Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research note on Friday, October 25th. Finally, UBS Group restated a “neutral” rating and set a $236.00 price objective on shares of Apple in a research note on Monday, December 2nd. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $237.99.

Apple Profile

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.