2,169 Shares in Apple Inc. $AAPL Purchased by Redstone Wealth Management LLC

Key Points

• Redstone Wealth Management LLC opened a new position in Apple during the fourth quarter, buying 2,169 shares worth about $590,000. Apple now represents roughly 0.5% of the firm’s portfolio and is its 24th-largest holding.
• Apple remains heavily owned by institutions, with the article noting that 67.73% of shares are held by hedge funds and other institutional investors. Several funds increased their stakes in the quarter, including First National Bank of Hutchinson and Brighton Jones LLC.
• Recent Apple news is broadly positive, with analysts focused on its AI strategy, WWDC expectations, and resilient iPhone demand. The company also beat quarterly earnings estimates and recently raised its dividend to $0.27 per share.

Redstone Wealth Management LLC purchased a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,169 shares of the iPhone maker's stock, valued at approximately $590,000. Apple comprises approximately 0.5% of Redstone Wealth Management LLC's investment portfolio, making the stock its 24th biggest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First National Bank of Hutchinson raised its position in Apple by 24.6% in the fourth 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 during the period. Eagle Capital Management LLC raised its position in Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after acquiring an additional 272 shares during the period. Brighton Jones LLC raised its position in Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after acquiring an additional 69,207 shares during the period. Revolve Wealth Partners LLC raised its position in Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock worth $16,742,000 after acquiring an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE raised its position in Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock worth $12,587,000 after acquiring an additional 1,155 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s WWDC keynote is expected to highlight a revamped Siri, Apple Intelligence updates, and a broader AI strategy, which could act as a near-term catalyst if the company shows meaningful progress. Will WWDC Drive Apple Stock (AAPL) Higher? Here’s What Analysts Expect
• Positive Sentiment: Analysts remain constructive, with Citi reiterating a Buy and Wedbush reaffirming Outperform with a $400 target, citing Apple’s AI inflection point and resilient iPhone fundamentals. Asiya Merchant Reiterates Buy on Apple, Citing AI Strategy Inflection and Resilient iPhone Fundamentals
• Positive Sentiment: Apple’s App Store update showed $1.4 trillion in sales and billings last year, reinforcing the scale of its Services ecosystem even as most transactions did not carry a commission. Apple touts $1.4 trillion in App Store billings and sales, 90% without a commission
• Positive Sentiment: Foxconn raised its second-quarter outlook, a constructive signal for Apple’s supply chain and iPhone demand, since Foxconn is Apple’s top iPhone assembler. Taiwan's Foxconn raises guidance for second-quarter outlook
• Neutral Sentiment: Reports that Apple may rely on Google cloud infrastructure and Nvidia chips to power a redesigned Siri suggest the company is prioritizing speed to market, but they also underscore that Apple is leaning on outside partners for its AI push. Apple Taps Google to Prep Siri For September Revamp
• Negative Sentiment: Some coverage warns that Apple still faces a high bar to justify its valuation, and UBS noted decelerating App Store growth could pressure the Services growth story if AI execution disappoints. Investors Should Worry About Apple’s (AAPL) Decelerating App Store Growth, Says UBS

Apple Stock Performance

NASDAQ AAPL opened at $307.34 on Monday. The company's 50 day moving average is $281.39 and its 200-day moving average is $271.39. Apple Inc. has a 12-month low of $195.07 and a 12-month high of $316.94. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The firm has a market cap of $4.51 trillion, a P/E ratio of 37.16, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. During the same quarter in the previous year, the firm posted $1.65 earnings per share. The company's quarterly revenue was up 16.6% compared to the same quarter last year. Sell-side analysts predict that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. This is an increase from Apple's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. Apple's payout ratio is presently 13.06%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Moffett Nathanson lifted their price objective on shares of Apple from $241.00 to $270.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 25th. TD Cowen reaffirmed a "buy" rating and issued a $335.00 price objective (up from $325.00) on shares of Apple in a research report on Friday, May 1st. DA Davidson reaffirmed a "neutral" rating and issued a $270.00 price objective on shares of Apple in a research report on Friday, May 1st. Citigroup reaffirmed a "buy" rating on shares of Apple in a research report on Monday, June 1st. Finally, BNP Paribas Exane raised shares of Apple from a "neutral" rating to an "outperform" rating and set a $300.00 price objective on the stock in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $312.82.

Insider Buying and Selling at Apple

In other news, insider Ben Borders sold 1,274 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the sale, the insider owned 38,713 shares of the company's stock, valued at $11,226,770. The trade was a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy D. Cook sold 64,949 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 3,280,418 shares in the company, valued at $833,980,668.14. This trade 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 ninety days, insiders sold 97,759 shares of company stock worth $24,964,305. 0.06% of the stock is currently owned by company insiders.

Apple 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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