Apple Inc. $AAPL is Arkfeld Wealth Strategies L.L.C.'s 3rd Largest Position

Key Points

• Arkfeld Wealth Strategies increased its Apple stake by 3.7% in the first quarter, bringing its holdings to 69,566 shares worth about $18.5 million. Apple is now the fund’s 3rd largest position and makes up roughly 6.5% of its portfolio.
• Apple’s latest quarterly results topped expectations, with EPS of $2.01 versus the $1.95 consensus and revenue of $111.18 billion beating forecasts. Analysts now expect Apple to deliver 8.74 EPS for the current fiscal year.
• Wall Street sentiment remains broadly positive, with the stock carrying a Moderate Buy consensus and an average price target of $314.85. At the same time, Apple raised its quarterly dividend to $0.27 per share from $0.26.

Arkfeld Wealth Strategies L.L.C. lifted its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 69,566 shares of the iPhone maker's stock after acquiring an additional 2,468 shares during the quarter. Apple accounts for about 6.5% of Arkfeld Wealth Strategies L.L.C.'s holdings, making the stock its 3rd biggest holding. Arkfeld Wealth Strategies L.L.C.'s holdings in Apple were worth $18,535,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Apple in the 4th quarter worth approximately $52,266,468,000. Nuveen LLC bought a new position in shares of Apple during the first quarter valued at $17,472,482,000. Cardano Risk Management B.V. raised its holdings in Apple by 890.7% in the fourth quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker's stock worth $11,413,990,000 after buying an additional 37,746,784 shares during the last quarter. Laurel Wealth Advisors LLC raised its holdings in 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 worth $5,553,753,000 after acquiring an additional 26,937,401 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Apple by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock valued at $387,749,545,000 after purchasing an additional 26,856,752 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on AAPL. Citigroup restated a "buy" rating on shares of Apple in a report on Monday, June 1st. Jefferies Financial Group reissued a "hold" rating on shares of Apple in a report on Tuesday, June 9th. KeyCorp reissued a "sector weight" rating on shares of Apple in a report on Tuesday, June 9th. Robert W. Baird set a $310.00 target price on shares of Apple in a report on Friday, May 1st. Finally, Bank of America reiterated a "buy" rating and issued a $380.00 target price on shares of Apple in a research report on Thursday, June 18th. One 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $314.85.

Apple Stock Performance

AAPL stock opened at $284.29 on Friday. Apple Inc. has a one year low of $199.26 and a one year high of $317.40. The firm has a 50-day simple moving average of $292.51 and a two-hundred day simple moving average of $273.20. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The firm has a market cap of $4.18 trillion, a price-to-earnings ratio of 34.38, a PEG ratio of 2.39 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping 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 business had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. During the same period in the prior year, the firm posted $1.65 earnings per share. The business's quarterly revenue was up 16.6% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given 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 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, May 11th. Apple's dividend payout ratio (DPR) is 13.06%.

Insider Buying and Selling

In other Apple news, insider Ben Borders sold 1,274 shares of the company's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the transaction, the insider directly owned 38,713 shares in the company, valued at approximately $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 64,949 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the transaction, the chief executive officer directly owned 3,280,418 shares in the company, valued at approximately $833,980,668.14. The trade was a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 97,875 shares of company stock valued at $24,998,541. Insiders own 0.06% of the company's stock.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Some analysts and traders see the recent decline as overdone, arguing that Apple’s pullback has created an attractive entry point and that the stock is oversold at support. Stock Of The Day: Is The Apple Sell-Off Over?
• Positive Sentiment: Morgan Stanley reiterated a Buy rating on AAPL, saying Apple’s pricing and margin-defense strategy supports upside and leaving its $360 target unchanged. Apple Buy Rating Reiterated as Margin Defense Strategy Supports Upside; $360 Price Target Unchanged
• Neutral Sentiment: Wall Street remains divided on the broader implications of Apple’s recent price hikes, with some analysts saying the company can pass through costs thanks to its loyal customer base, while others warn the iPhone will be the real test. Apple Can Get Away With Mac Price Hikes, but iPhone Is the Real Test
• Negative Sentiment: Apple raised prices on several Mac and iPad models because surging memory and storage chip costs tied to AI demand are squeezing margins, raising concerns that higher prices could hurt demand and signal more pressure ahead. Apple raises prices of MacBooks, iPads as memory costs skyrocket
• Negative Sentiment: Apple also lost a key Vision Pro hardware executive to OpenAI, adding to investor concern about execution in its spatial-computing and AI efforts. Apple (AAPL) Loses Key Vision Pro Hardware Chief to OpenAI in Major Talent Blow

About Apple

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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