6,194 Shares in Apple Inc. $AAPL Purchased by Financially in Tune LLC

Key Points

• Financially in Tune LLC disclosed a new stake in Apple, buying 6,194 shares worth about $1.684 million. Apple now accounts for 1.6% of the firm’s holdings and ranks as its 15th-largest position.
• Apple continues to attract major institutional interest, with 67.73% of shares owned by institutional investors. At the same time, insiders have been selling shares, including recent sales by Ben Borders and Deirdre O’Brien.
• Apple’s recent fundamentals and outlook remain strong: it beat quarterly EPS and revenue estimates, raised its dividend to $0.27 per share, and analysts maintain a Moderate Buy rating with a consensus price target of $314.59.

Financially in Tune LLC acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,194 shares of the iPhone maker's stock, valued at approximately $1,684,000. Apple makes up 1.6% of Financially in Tune LLC's holdings, making the stock its 15th biggest position.

A number of other hedge funds have also added to or reduced their stakes in AAPL. ROSS JOHNSON & Associates LLC grew its stake in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after purchasing an additional 180 shares in the last quarter. Timmons Wealth Management LLC bought a new stake in Apple during the 4th quarter valued at $69,000. LSV Asset Management bought a new stake in Apple during the 4th quarter valued at $65,000. Inspire Investing LLC purchased a new stake in shares of Apple in the 4th quarter worth $76,000. Finally, Basso Capital Management L.P. purchased a new stake in shares of Apple in the 4th quarter worth $88,000. 67.73% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Ben Borders sold 116 shares of Apple stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the transaction, the insider owned 38,713 shares of the company's stock, valued at $11,425,754.82. The trade was a 0.30% decrease in their position. The sale was disclosed in a filing 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 the business's stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the transaction, the senior vice president owned 136,810 shares of the company's stock, valued at approximately $34,934,433.50. This trade represents a 17.99% decrease in their position. 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. Insiders have sold a total of 97,875 shares of company stock valued at $24,998,541 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Key Apple News

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

Shares of NASDAQ AAPL opened at $298.01 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The stock has a market capitalization of $4.38 trillion, a P/E ratio of 36.04, a price-to-earnings-growth ratio of 2.59 and a beta of 1.09. Apple Inc. has a 1-year low of $196.85 and a 1-year high of $317.40. The business has a fifty day moving average price of $289.73 and a 200 day moving average price 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, 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 the consensus estimate of $109.46 billion. During the same quarter last year, the company earned $1.65 earnings per share. The firm's revenue for the quarter was up 16.6% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post 8.75 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a $0.27 dividend. The ex-dividend date was Monday, May 11th. This represents a $1.08 dividend on an annualized basis 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 (DPR) is 13.06%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wells Fargo & Company restated an "overweight" rating and set a $310.00 price target (up from $300.00) on shares of Apple in a research note on Friday, May 1st. Monness Crespi & Hardt upped their price objective on shares of Apple from $315.00 to $335.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Jefferies Financial Group reiterated a "hold" rating on shares of Apple in a report on Tuesday, June 9th. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research report on Tuesday, June 9th. Finally, Barclays restated an "underweight" rating 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 given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $314.59.

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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