Apple Inc. $AAPL is Clark Asset Management LLC's 9th Largest Position

Key Points

• Clark Asset Management increased its Apple stake by 10.8% in the first quarter, buying 10,891 more shares and bringing its holdings to 111,416 shares worth about $28.3 million. Apple is now the firm’s 9th largest position and makes up roughly 2.7% of its portfolio.
• Apple reported better-than-expected quarterly results, with EPS of $2.01 versus the $1.95 consensus and revenue of $111.18 billion, up 16.6% year over year. The company also raised its quarterly dividend from $0.26 to $0.27 per share.
• Recent headlines show a mixed outlook: Morgan Stanley reiterated a Buy rating with a $360 target, but Apple also raised prices on some Mac and iPad models due to rising chip costs, and it lost a key Vision Pro hardware executive to OpenAI.

Clark Asset Management LLC raised its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 10.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,416 shares of the iPhone maker's stock after purchasing an additional 10,891 shares during the quarter. Apple comprises about 2.7% of Clark Asset Management LLC's investment portfolio, making the stock its 9th biggest position. Clark Asset Management LLC's holdings in Apple were worth $28,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Isthmus Partners LLC lifted its holdings in Apple by 6.4% in the third quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker's stock worth $25,000 after acquiring an additional 5,808 shares during the last quarter. Lifetime Wealth Management P.C. acquired a new stake in Apple in the fourth quarter worth $41,000. ROSS JOHNSON & Associates LLC boosted its position in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after buying an additional 180 shares during the period. LSV Asset Management bought a new stake in Apple during the fourth quarter worth approximately $65,000. Finally, Timmons Wealth Management LLC acquired a new position in Apple in the fourth quarter worth approximately $69,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Key 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

Insider Buying and Selling

In related news, SVP Deirdre O'brien sold 30,002 shares of the stock in a transaction on Thursday, April 2nd. The stock was 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 approximately $34,934,433.50. This represents a 17.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 116 shares of the 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 sale, the insider directly owned 38,713 shares of the company's stock, valued at $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 97,875 shares of company stock valued at $24,998,541. 0.06% of the stock is owned by company insiders.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $284.29 on Friday. The firm's fifty day moving average is $292.51 and its 200-day moving average is $273.20. Apple Inc. has a 52 week low of $199.26 and a 52 week high of $317.40. The firm has a market cap of $4.18 trillion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 2.39 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 earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. The business had revenue of $111.18 billion during the quarter, compared to analysts' expectations of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm's revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.65 earnings per share. Sell-side analysts predict that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, May 11th. This is a boost from Apple's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. Apple's payout ratio is presently 13.06%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AAPL shares. Wedbush reaffirmed an "outperform" rating and issued a $400.00 price objective on shares of Apple in a research note on Friday, June 5th. KGI Securities downgraded shares of Apple from an "outperform" rating to a "hold" rating and set a $315.00 price target on the stock. in a research note on Monday. Stifel Nicolaus set a $330.00 price target on shares of Apple in a report on Monday, March 2nd. UBS Group reiterated a "buy" rating on shares of Apple in a report on Tuesday, June 9th. Finally, Monness Crespi & Hardt upped their price objective on Apple from $315.00 to $335.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Apple has an average rating of "Moderate Buy" and an average price target of $314.85.

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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