Diversify Wealth Management LLC Makes New $11.06 Million Investment in Apple Inc. (NASDAQ:AAPL)

Diversify Wealth Management LLC acquired a new position in Apple Inc. (NASDAQ:AAPL) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 52,863 shares of the iPhone maker’s stock, valued at approximately $11,063,000. Apple makes up 1.3% of Diversify Wealth Management LLC’s holdings, making the stock its 14th biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in AAPL. Bellwether Advisors LLC increased its position in shares of Apple by 387.3% in the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after purchasing an additional 19,352 shares during the last quarter. Gentry Private Wealth LLC bought a new stake in shares of Apple in the 2nd quarter worth about $876,000. WT Asset Management Ltd bought a new stake in shares of Apple in the 2nd quarter worth about $80,057,000. TD Asset Management Inc increased its position in shares of Apple by 10.3% in the 2nd quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock worth $3,526,874,000 after purchasing an additional 1,557,848 shares during the last quarter. Finally, Councilmark Asset Management LLC bought a new stake in shares of Apple in the 1st quarter worth about $11,776,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Trading Down 1.3 %

Apple stock opened at $222.91 on Friday. The firm has a 50 day simple moving average of $227.18 and a 200-day simple moving average of $212.03. 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 stock has a market capitalization of $3.39 trillion, a PE ratio of 33.93, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.15. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. As a group, equities research analysts expect that Apple Inc. will post 6.6 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, November 11th. Apple’s payout ratio is 15.22%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. Wedbush reaffirmed an “outperform” rating and set a $285.00 price objective on shares of Apple in a research report on Monday, September 9th. Melius Research reaffirmed a “buy” rating and set a $265.00 price objective on shares of Apple in a research report on Tuesday, August 27th. Finally, TD Cowen boosted their price objective on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $236.23.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 100,000 shares of the firm’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 transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the sale, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the company’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 transaction 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 517,924 shares of company stock worth $114,786,399. Corporate insiders own 0.06% of the company’s stock.

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.