55 North Private Wealth LLC Takes $5.60 Million Position in Apple Inc. $AAPL

Key Points

• 55 North Private Wealth LLC initiated a new position in Apple, buying 20,592 shares valued at about $5.6 million. Apple now represents roughly 1.5% of the firm’s holdings and is its 13th-largest position.
• Apple’s latest quarterly results were strong, with EPS of $2.01 beating expectations and revenue of $111.18 billion topping estimates. The company also posted year-over-year revenue growth of 16.6% and boosted its dividend to $0.27 per share.
• Institutional ownership remains high at 67.73%, while several insiders, including CFO Kevan Parekh and SVP Deirdre O'Brien, recently sold shares. Analysts remain broadly positive, with a consensus rating of Moderate Buy and a target price near $308.74.

55 North Private Wealth LLC purchased a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,592 shares of the iPhone maker's stock, valued at approximately $5,598,000. Apple accounts for about 1.5% of 55 North Private Wealth LLC's holdings, making the stock its 13th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Norges Bank bought a new stake in shares of Apple in the 2nd quarter valued at $38,942,255,000. Nuveen LLC bought a new stake in shares of Apple in the 1st quarter valued at $17,472,482,000. Laurel Wealth Advisors LLC increased its stake in shares of Apple by 20,464.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker's stock valued at $5,553,753,000 after acquiring an additional 26,937,401 shares in the last quarter. Northern Trust Corp increased its stake in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after acquiring an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Apple by 14.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock valued at $26,220,566,000 after acquiring an additional 13,137,968 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Buying and Selling

In related news, CFO Kevan Parekh sold 1,534 shares of the business's stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the sale, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $3,675,650. The trade was a 10.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Deirdre O'brien sold 30,002 shares of the business's stock in a transaction on 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 sale, the senior vice president owned 136,810 shares in the company, valued at approximately $34,934,433.50. The trade was a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 97,759 shares of company stock valued at $24,964,305. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $300.23 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. Apple Inc. has a 52-week low of $193.46 and a 52-week high of $303.20. The firm has a market cap of $4.41 trillion, a price-to-earnings ratio of 36.30, a PEG ratio of 2.60 and a beta of 1.06. The business's fifty day moving average is $265.37 and its 200 day moving average is $267.48.

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. 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 analyst estimates of $109.46 billion. During the same period in the previous year, the company posted $1.65 EPS. The firm's revenue for the quarter was up 16.6% compared to the same quarter last year. Research analysts predict that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, May 11th. This is a positive change from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio is presently 13.06%.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s post-earnings rally continues after the company posted record quarterly revenue and EPS, boosted its dividend, and authorized a fresh $100 billion buyback. Analysts say the results support further upside and have raised price targets. Apple Stock Hits All-Time High as Post-Earnings Rally Continues
• Positive Sentiment: Evercore ISI lifted its price target on Apple to $365 and said a bull-case scenario could reach $500, citing compounding growth from Services and Apple’s ability to keep expanding free cash flow. Evercore ISI Hikes Apple Price Target to $365
• Positive Sentiment: Investor sentiment is being helped by reports that iPhone demand remains strong globally, plus Soros Fund Management reportedly boosted its Apple position during the quarter. George Soros’s fund buys Berkshire Hathaway stock — now that Buffett is gone
• Positive Sentiment: Apple reportedly cut iPhone 17 prices in China ahead of the 618 shopping festival, which could help support unit sales in a key market. Apple Cuts iPhone 17 Prices in China
• Neutral Sentiment: OpenAI is considering legal action over its strained ChatGPT partnership with Apple, which adds uncertainty around Apple’s AI strategy and could weigh on sentiment if the dispute escalates. OpenAI explores legal options against Apple
• Neutral Sentiment: Reports that Anthropic’s Mythos AI found vulnerabilities in Apple’s macOS/iOS are a reminder of ongoing security scrutiny, but the news is more reputational than fundamentally financial for now. Anthropic's Mythos Helped Find Bugs in Apple's Desktop Operating System

Analyst Upgrades and Downgrades

AAPL has been the subject of several research analyst reports. Stephens set a $315.00 price objective on shares of Apple in a research note on Monday, January 26th. UBS Group set a $296.00 price objective on Apple and gave the company a "neutral" rating in a research note on Friday, May 1st. Evercore reissued an "outperform" rating and issued a $365.00 price objective on shares of Apple in a research note on Thursday. Bank of America raised their price objective on Apple from $320.00 to $325.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. Finally, Scotiabank set a $330.00 price objective on Apple in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $308.74.

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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