Apple Inc. $AAPL is Aurora Private Wealth Inc.'s 2nd Largest Position

Key Points

• Aurora Private Wealth trimmed its Apple stake by 7.1% in the first quarter, but Apple still remains its 2nd-largest holding and makes up about 4.6% of its portfolio.
• Apple reported strong fiscal Q2 results, with EPS of $2.01 beating estimates and revenue of $111.18 billion topping forecasts, while quarterly revenue rose 16.6% year over year.
• The company also raised its quarterly dividend to $0.27 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $314.85.

Aurora Private Wealth Inc. lessened its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 7.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,678 shares of the iPhone maker's stock after selling 1,799 shares during the period. Apple comprises approximately 4.6% of Aurora Private Wealth Inc.'s holdings, making the stock its 2nd biggest position. Aurora Private Wealth Inc.'s holdings in Apple were worth $6,437,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. First National Bank of Hutchinson raised its position in shares of Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after purchasing an additional 6,982 shares during the period. Eagle Capital Management LLC boosted its holdings in Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after buying an additional 272 shares during the period. Brighton Jones LLC increased its stake in Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after buying an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after acquiring an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE raised its holdings in Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock valued at $12,587,000 after acquiring an additional 1,155 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Trading Down 0.4%

AAPL stock opened at $293.05 on Thursday. The firm has a fifty day moving average price of $291.83 and a 200 day moving average price of $273.15. Apple Inc. has a fifty-two week low of $199.26 and a fifty-two week high of $317.40. The firm has a market cap of $4.30 trillion, a PE ratio of 35.44, a price-to-earnings-growth ratio of 2.56 and a beta of 1.09. 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 (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating the consensus estimate of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. During the same quarter last year, the business earned $1.65 earnings per share. Apple's quarterly revenue was up 16.6% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, May 11th. 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%. Apple's payout ratio is presently 13.06%.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 64,949 shares of the company's stock in a transaction that occurred 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 directly owned 3,280,418 shares in the company, valued at $833,980,668.14. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Deirdre O'brien sold 30,002 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the senior vice president directly owned 136,810 shares of the company's stock, valued at $34,934,433.50. The trade was a 17.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 97,875 shares of company stock valued at $24,998,541. Insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of recent analyst reports. Jefferies Financial Group reaffirmed a "hold" rating on shares of Apple in a research note on Tuesday, June 9th. DA Davidson reiterated a "neutral" rating and set a $270.00 price objective on shares of Apple in a research report on Friday, May 1st. Oppenheimer reissued a "market perform" rating on shares of Apple in a report on Tuesday, June 9th. KGI Securities lowered shares of Apple from an "outperform" rating to a "hold" rating and set a $315.00 target price for the company. in a research report on Monday. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of Apple in a research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $314.85.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s new Siri and broader AI reset is being viewed positively by analysts, with BofA reiterating a Buy rating and saying the WWDC update could strengthen Apple’s AI position and support the stock. BofA Says Apple’s (AAPL) New Siri Strategy Could Strengthen its AI Position
• Positive Sentiment: Apple’s reported chip partnership with Intel is being framed as strategically important, with investors focused on supply-chain diversification and a longer-term domestic chip roadmap that could benefit future product cycles. Apple-Intel chip deal makes strategic sense but production is years away
• Positive Sentiment: Several market commentaries say Apple shares are building toward a possible breakout, with the stock staying close to its all-time high and forming a fresh buy zone as momentum improves. Apple Stock Polishing New Buy Zone With All-Time High In Sight
• Neutral Sentiment: Apple is also drawing attention for comments from Eddy Cue about expanding entertainment offerings on Apple TV and in theaters, which supports the long-term services story but is not an immediate earnings catalyst. Apple aims for better and more entertainment offerings, executive Cue says
• Negative Sentiment: Investors are still weighing headwinds from rising memory costs and the possibility of iPhone price increases, which could pressure demand if Apple passes through higher component prices. Apple Price Hike Fears May Be Overblown, Says J.P. Morgan
• Negative Sentiment: Apple also faces legal overhang after a UK tribunal allowed a $4 billion iCloud class-action lawsuit to proceed, adding another potential regulatory and financial risk. Apple supplier Lingyi iTech prices $1.06 billion Hong Kong IPO to tap AI demand

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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