2,914 Shares in Apple Inc. $AAPL Acquired by Keenan LLC

Key Points

• Keenan LLC opened a new position in Apple, buying 2,914 shares worth about $792,000 in the fourth quarter. Apple now makes up roughly 0.7% of the firm’s portfolio.
• Wall Street sentiment on Apple remains constructive overall, with an average rating of “Moderate Buy” and a consensus price target of $314.59. Several analysts recently reiterated hold/sector-weight views, while others raised targets as high as $325.
• Apple reported strong quarterly results, including $2.01 EPS and $111.18 billion in revenue, both above expectations. The company also raised its quarterly dividend to $0.27 per share from $0.26.

Keenan LLC purchased a new position in Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,914 shares of the iPhone maker's stock, valued at approximately $792,000. Apple accounts for approximately 0.7% of Keenan LLC's investment portfolio, making the stock its 25th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Isthmus Partners LLC increased its holdings in Apple by 6.4% in the 3rd quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker's stock valued at $25,000 after acquiring an additional 5,808 shares during the last quarter. ROSS JOHNSON & Associates LLC boosted its holdings in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after purchasing an additional 180 shares during the last quarter. LSV Asset Management bought a new position in shares of Apple during the 4th quarter valued at about $65,000. Timmons Wealth Management LLC purchased a new position in shares of Apple during the fourth quarter valued at about $69,000. Finally, Inspire Investing LLC bought a new stake in shares of Apple in the fourth quarter worth about $76,000. Institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research report on Tuesday, June 9th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Apple in a research note on Tuesday, June 9th. KeyCorp reaffirmed a "sector weight" rating on shares of Apple in a report on Tuesday, June 9th. Wells Fargo & Company reiterated an "overweight" rating and set a $310.00 target price (up from $300.00) on shares of Apple in a research report on Friday, May 1st. Finally, Morgan Stanley set a $325.00 target price on shares of Apple in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $314.59.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 64,949 shares of the stock in a transaction 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 owned 3,280,418 shares in the company, valued at approximately $833,980,668.14. This represents a 1.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 116 shares of the firm's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares of the company's stock, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 97,875 shares of company stock worth $24,998,541. 0.06% of the stock is currently owned by corporate insiders.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s planned price increases could protect margins as memory and storage costs rise, and Bank of America reiterated a Buy rating with a $380 target, citing Apple’s pricing power and supply-chain strength. Article Title
• Positive Sentiment: Reports of upcoming AI-focused devices and a second-generation iPhone Air support confidence in Apple’s product pipeline and longer-term growth story. Article Title
• Neutral Sentiment: Apple’s planned price hikes may help earnings, but they could also pressure demand if consumers balk at higher handset prices. Article Title
• Neutral Sentiment: Apple opening Brazil’s App Store to alternative marketplaces reduces regulatory friction there, but it also underscores ongoing global platform scrutiny. Article Title

Apple Stock Performance

AAPL opened at $298.01 on Monday. The firm has a market cap of $4.38 trillion, a P/E ratio of 36.04, a P/E/G ratio of 2.59 and a beta of 1.09. Apple Inc. has a 12 month low of $196.85 and a 12 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 stock has a 50-day moving average of $289.73 and a 200 day moving average of $272.91.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company had revenue of $111.18 billion for the quarter, compared to analysts' expectations of $109.46 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. The firm's revenue for the quarter was up 16.6% on a year-over-year basis. As a group, research analysts forecast that Apple Inc. will post 8.75 EPS for the current year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, May 11th. 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. Apple's dividend payout ratio is presently 13.06%.

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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.