Diversified Trust Co Acquires 19,001 Shares of Apple Inc. $AAPL

Key Points

• Diversified Trust Co increased its Apple stake by 2.8% in Q1, buying 19,001 shares and bringing its total to 698,440 shares worth about $177.3 million. Apple is now its 6th largest holding and makes up roughly 3.3% of its portfolio.
• Apple continues to draw broad institutional and analyst support, with several hedge funds adding shares and Wall Street maintaining a consensus Moderate Buy rating. The average price target is $314.85, while some firms see upside as high as $400.
• The company reported strong recent fundamentals, including better-than-expected earnings and revenue of $111.18 billion, and it also raised its quarterly dividend to $0.27 per share. However, investors are still watching risks such as rising component costs and a UK iCloud lawsuit.

Diversified Trust Co grew its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 698,440 shares of the iPhone maker's stock after buying an additional 19,001 shares during the quarter. Apple accounts for about 3.3% of Diversified Trust Co's investment 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 filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. First National Bank of Hutchinson grew its holdings in Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock worth $8,845,000 after acquiring an additional 6,982 shares in the last quarter. Eagle Capital Management LLC raised its stake in shares of Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after purchasing an additional 272 shares in the last quarter. Brighton Jones LLC raised its stake in shares of Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after purchasing an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock worth $16,742,000 after purchasing an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE lifted its position in shares of Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock worth $12,587,000 after purchasing an additional 1,155 shares during the last quarter. Institutional investors and hedge funds 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

Insider Activity

In other news, insider Ben Borders sold 1,274 shares of the business's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the transaction, the insider owned 38,713 shares of the company's stock, valued at approximately $11,226,770. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 64,949 shares of the company's stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the transaction, the chief executive officer owned 3,280,418 shares of the company's stock, valued at $833,980,668.14. This represents a 1.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 97,875 shares of company stock worth $24,998,541. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AAPL. Citigroup reissued a "buy" rating on shares of Apple in a report on Monday, June 1st. UBS Group reaffirmed a "buy" rating on shares of Apple in a report on Tuesday, June 9th. KGI Securities lowered Apple from an "outperform" rating to a "hold" rating and set a $315.00 target price for the company. in a research report on Monday. Monness Crespi & Hardt boosted their price target on Apple from $315.00 to $335.00 and gave the company a "buy" rating in a report on Friday, May 1st. Finally, Wedbush reissued an "outperform" rating and set a $400.00 price target on shares of Apple in a research report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Apple presently has a consensus rating of "Moderate Buy" and an average target price of $314.85.

Apple Stock Down 0.4%

Shares of Apple stock opened at $293.05 on Thursday. The stock has a market capitalization of $4.30 trillion, a price-to-earnings ratio of 35.44, a PEG ratio of 2.56 and a beta of 1.09. Apple Inc. has a twelve month low of $199.26 and a twelve month high of $317.40. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The business's 50 day simple moving average is $291.83 and its 200-day simple moving average is $273.15.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 146.69% and a net margin of 27.15%.The business's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.65 EPS. Equities research analysts forecast that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a $0.27 dividend. The ex-dividend date was Monday, May 11th. This is a positive change from Apple's previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. Apple's dividend payout ratio (DPR) is 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.

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