153,039 Shares in Apple Inc. $AAPL Acquired by Purpose Unlimited Inc.

Key Points

• Purpose Unlimited Inc. disclosed a new stake in Apple, buying 153,039 shares worth about $41.6 million in the fourth quarter. Apple now makes up about 1.9% of the firm’s portfolio.
• Institutional ownership remains very high, with 67.73% of Apple shares held by institutions and hedge funds. The article also notes several large investors recently added to or increased their Apple positions.
• Analysts remain broadly constructive on Apple, with a consensus rating of “Moderate Buy” and an average price target of $314.85. Recent reports from UBS, Bank of America, Evercore and Wells Fargo reiterated positive ratings.

Purpose Unlimited Inc. bought a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 153,039 shares of the iPhone maker's stock, valued at approximately $41,605,000. Apple comprises approximately 1.9% of Purpose Unlimited Inc.'s portfolio, making the stock its 14th largest holding.

Several other institutional investors also recently bought and sold shares of AAPL. Norges Bank purchased a new position in Apple during the 4th quarter worth $52,266,468,000. Nuveen LLC acquired a new position in Apple during the 1st quarter valued at about $17,472,482,000. Cardano Risk Management B.V. raised its stake in Apple by 890.7% in the fourth quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker's stock valued at $11,413,990,000 after buying an additional 37,746,784 shares during the last quarter. Laurel Wealth Advisors LLC boosted its holdings in Apple by 20,464.8% in the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker's stock worth $5,553,753,000 after acquiring an additional 26,937,401 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Apple by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock worth $387,749,545,000 after acquiring an additional 26,856,752 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on AAPL. UBS Group restated a "buy" rating on shares of Apple in a report on Tuesday, June 9th. Bank of America reissued a "buy" rating and set a $380.00 target price on shares of Apple in a research report on Thursday, June 18th. Evercore reaffirmed an "outperform" rating on shares of Apple in a report on Monday, June 8th. 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. Finally, Moffett Nathanson upped their target price on Apple from $241.00 to $270.00 and gave the company a "neutral" rating in a research report on Wednesday, February 25th. One 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. According to data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and an average price target of $314.85.

Insider Buying and Selling at Apple

In other Apple news, insider Ben Borders sold 116 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the sale, the insider directly owned 38,713 shares of the company's stock, valued at approximately $11,425,754.82. This trade represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 Apple stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total value of $7,661,010.70. Following the transaction, the senior vice president owned 136,810 shares of the company's stock, valued at $34,934,433.50. The trade was a 17.99% 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. Insiders sold a total of 97,875 shares of company stock valued at $24,998,541 in the last three months. Company insiders own 0.06% of the company's stock.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Wall Street is becoming more optimistic about Apple’s new Siri and AI strategy after the post-WWDC selloff, suggesting investors may be overreacting to near-term skepticism. After an Initial Panic, Wall Street's Leaning Into Apple's New Siri AI
• Positive Sentiment: Reports that Apple has agreed to partner with Intel to design and manufacture chips in the U.S. are being viewed as a supply-chain diversification win and a long-term catalyst for Apple’s hardware roadmap. Apple’s Intel Deal Arrives at the Right Time for Its Stock
• Positive Sentiment: Tim Cook’s comments about higher memory costs and upcoming price increases are being interpreted by some analysts as supportive of Apple’s earnings power, since price hikes could help offset component inflation. Apple: Empirical Evidence Suggests Upcoming Price Hikes Will Boost Earnings
• Neutral Sentiment: Apple’s TV and streaming strategy is drawing attention, but the discussion appears more explanatory than immediately material to the stock. Apple Explains TV Library Strategy
• Neutral Sentiment: A Zacks comparison of NVIDIA and Apple highlights Apple’s lower valuation and services strength, reinforcing the stock’s defensive appeal without changing the near-term setup. NVIDIA vs. Apple: Which Tech Titan Is the Better Buy Right Now?
• Negative Sentiment: Britain’s competition tribunal approved a £3 billion class action over iCloud fees, adding a meaningful legal overhang and potential financial liability for Apple. UK tribunal gives go ahead for $4 billion lawsuit against Apple over iCloud services
• Negative Sentiment: Apple also faces reputational risk after closing its first unionized U.S. store, with the union accusing the company of retaliation. Apple Just Closed Its First Unionized U.S. Store
• Negative Sentiment: Several reports say Apple is forcing price increases on hardware because memory and chip costs are rising, which could pressure demand if consumers push back. Memory's price surge threatens Apple's 'magic formula' — and the economy

Apple Price Performance

Shares of NASDAQ:AAPL opened at $294.98 on Wednesday. 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 company has a market cap of $4.33 trillion, a PE ratio of 35.67, a price-to-earnings-growth ratio of 2.58 and a beta of 1.09. The company's 50 day moving average is $291.15 and its 200 day moving average is $273.06.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations 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% compared to the same quarter last year. During the same period in the previous year, the business posted $1.65 EPS. On average, sell-side analysts forecast that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The firm 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. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Apple's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.4%. 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.

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