Diversified Portfolios Inc. Has $5.26 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Diversified Portfolios Inc. cut its holdings in Apple Inc. (NASDAQ:AAPL) by 2.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,966 shares of the iPhone maker’s stock after selling 523 shares during the period. Diversified Portfolios Inc.’s holdings in Apple were worth $5,258,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after purchasing an additional 18,067,216 shares during the period. Norges Bank bought a new stake in Apple in the fourth quarter valued at approximately $33,912,466,000. Wellington Management Group LLP lifted its position in shares of Apple by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock valued at $11,677,190,000 after buying an additional 2,096,360 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Apple by 2.0% during the 4th quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock worth $10,531,834,000 after acquiring an additional 1,067,587 shares during the period. Finally, Capital International Investors increased its holdings in shares of Apple by 7.1% during the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after acquiring an additional 2,474,887 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AAPL shares. Raymond James upped their price target on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Monness Crespi & Hardt reissued a “buy” rating and set a $245.00 price target on shares of Apple in a report on Monday, September 9th. Tigress Financial boosted their price target on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 28th. TD Cowen lifted their target price on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and upped their price target for the company from $170.00 to $300.00 in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $239.17.

Apple Trading Down 0.3 %

Shares of AAPL stock opened at $228.20 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The company has a market cap of $3.50 trillion, a price-to-earnings ratio of 35.49, a PEG ratio of 2.62 and a beta of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23. The stock has a 50 day simple moving average of $222.41 and a 200-day simple moving average of $200.41.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter last year, the firm earned $1.26 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts expect that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is presently 15.55%.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 5,178 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock worth $23,723,887 over the last three months. Insiders own 0.06% of the company’s stock.

Apple Company 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.