Apollon Wealth Management LLC Buys 68,158 Shares of Apple Inc. $AAPL

Key Points

• Apollon Wealth Management LLC boosted its Apple stake by 8.1% in Q1, buying 68,158 more shares and bringing its total holding to 910,403 shares worth about $231.1 million.
• Apple reported strong quarterly results, with EPS of $2.01 and revenue of $111.18 billion, both above analyst expectations, while revenue rose 16.6% year over year.
• The company also raised its quarterly dividend to $0.27 per share from $0.26, and analysts remain broadly positive with a consensus rating of Moderate Buy.

Apollon Wealth Management LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 910,403 shares of the iPhone maker's stock after purchasing an additional 68,158 shares during the period. Apple accounts for about 3.8% of Apollon Wealth Management LLC's investment portfolio, making the stock its 2nd largest holding. Apollon Wealth Management LLC's holdings in Apple were worth $231,051,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Reyes Financial Architecture Inc. grew its holdings in shares of Apple by 0.4% in the 3rd quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker's stock worth $2,520,000 after acquiring an additional 37 shares during the last quarter. WESPAC Advisors LLC lifted its position in Apple by 0.3% in the 4th quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker's stock worth $3,351,000 after buying an additional 39 shares in the last quarter. Interactive Financial Advisors Inc. raised its holdings in shares of Apple by 4.0% during the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker's stock worth $286,000 after acquiring an additional 40 shares in the last quarter. Sugar Maple Asset Management LLC boosted its position in Apple by 2.0% during the first quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker's stock valued at $515,000 after purchasing an additional 40 shares during the last quarter. Finally, Orion Investment Co boosted its position in Apple by 0.3% during the fourth quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker's stock valued at $3,902,000 after purchasing an additional 41 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Apple

In other news, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the transaction, the chief financial officer owned 13,366 shares in the company, valued at approximately $3,675,650. This represents a 10.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ben Borders sold 116 shares of the firm's 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 transaction, 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 position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 2,924 shares of company stock worth $825,546 in the last three months. Insiders own 0.06% of the company's stock.

Apple Trading Down 0.6%

Shares of AAPL opened at $310.66 on Wednesday. Apple Inc. has a 12-month low of $201.50 and a 12-month high of $317.40. 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 capitalization of $4.56 trillion, a price-to-earnings ratio of 37.56, a P/E/G ratio of 2.72 and a beta of 1.10. The stock's 50-day moving average price is $296.83 and its 200 day moving average price is $274.38.

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, topping analysts' consensus estimates of $1.95 by $0.06. The company had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company's quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the company earned $1.65 EPS. As a group, research 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. Shareholders of record on Monday, May 11th were paid a dividend of $0.27 per share. This is an increase from Apple's previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, May 11th. Apple's dividend payout ratio is presently 13.06%.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: J.P. Morgan reportedly raised its price target on Apple, reinforcing bullish expectations heading into fiscal Q3 earnings and signaling confidence in Apple’s growth and margins. J.P. Morgan Lifts Apple Stock (AAPL) Price Target Ahead of Q3 Earnings
• Positive Sentiment: Apple’s extended chip partnership with Broadcom through 2031 strengthens its AI and connectivity supply chain, improving visibility for future products and supporting sentiment around Apple’s long-term execution. Broadcom, Apple extend chip partnership through 2031
• Positive Sentiment: Several reports say investors are warming to Apple’s “cheap AI” strategy, with attention shifting to Macs, Siri, and other ecosystem features rather than just the iPhone, which could create new upside drivers. Why Investors Fell Back In Love With Apple’s Cheap AI Strategy
• Positive Sentiment: Analysts said Apple should be able to weather hardware price increases because demand remains resilient, suggesting consumers may be less price-sensitive than feared. Apple Sales Seen Weathering Hardware Price Increases

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Monness Crespi & Hardt lifted their price target on Apple from $315.00 to $335.00 and gave the company a "buy" rating in a report on Friday, May 1st. Bank of America reaffirmed a "buy" rating and issued a $380.00 price objective on shares of Apple in a research note on Thursday, June 18th. KGI Securities downgraded shares of Apple from an "outperform" rating to a "hold" rating and set a $315.00 target price on the stock. in a research report on Monday, June 22nd. Evercore restated an "outperform" rating on shares of Apple in a report on Monday, June 8th. Finally, Wedbush reiterated an "outperform" rating and set a $400.00 price target on shares of Apple in a research note on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and a consensus price target of $314.85.

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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