Apple Inc. $AAPL is Elevation Point Wealth Partners LLC's Largest Position

Elevation Point Wealth Partners LLC increased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 136.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 590,038 shares of the iPhone maker's stock after purchasing an additional 340,950 shares during the quarter. Apple makes up 3.5% of Elevation Point Wealth Partners LLC's investment portfolio, making the stock its largest holding. Elevation Point Wealth Partners LLC's holdings in Apple were worth $149,746,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Lifetime Wealth Management P.C. purchased a new stake in shares of Apple in the 4th quarter valued at approximately $41,000. ROSS JOHNSON & Associates LLC lifted its position in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after buying an additional 180 shares in the last quarter. Timmons Wealth Management LLC acquired a new stake in shares of Apple during the 4th quarter valued at $69,000. LSV Asset Management acquired a new stake in shares of Apple during the 4th quarter valued at $65,000. Finally, Inspire Investing LLC purchased a new position in shares of Apple during the 4th quarter valued at $76,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Transactions at Apple

In other news, CFO Kevan Parekh sold 1,534 shares of the firm's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the sale, the chief financial officer directly owned 13,366 shares of the company's stock, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ben Borders sold 116 shares of Apple stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the transaction, the insider owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 2,924 shares of company stock valued at $825,546 over the last 90 days. Corporate insiders own 0.06% of the company's stock.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Citi raised its price target on Apple to $365 and kept a Buy rating, arguing the company can keep gaining market share and may benefit from premium iPhone pricing and Apple Intelligence upside. Article Title
• Positive Sentiment: Apple continues to show strong smartphone performance, including record Q2 market share in China and reports that it has outperformed the broader smartphone slump, which supports the case for resilient demand. Article Title
• Positive Sentiment: Investors are also focusing on potential future catalysts such as a possible iPhone price increase and new product cycles, including foldable iPhone plans and AI-focused chip development. Article Title
• Neutral Sentiment: Apple’s lawsuit against OpenAI is keeping the stock in the headlines; it could protect Apple’s intellectual property and slow a competitor’s hardware push, but it also adds legal uncertainty. Article Title
• Neutral Sentiment: Broadcom’s multiyear chip agreement was described as strategically positive for Apple’s AI silicon efforts, but it is more of a longer-term support story than a direct near-term stock mover. Article Title
• Negative Sentiment: KeyBanc’s downgrade and related bearish commentary from other firms are the clearest reasons Apple stock is lower, with analysts warning that slowing iPhone upgrades and softer Services growth could limit further upside. Article Title

Analyst Ratings Changes

Several analysts recently issued reports on AAPL shares. Rosenblatt Securities reiterated a "neutral" rating and set a $276.00 price objective on shares of Apple in a report on Tuesday, June 9th. UBS Group set a $250.00 target price on Apple in a research note on Tuesday. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Apple in a research report on Monday, June 8th. KeyCorp downgraded Apple from a "sector weight" rating to an "underweight" rating and set a $250.00 price target for the company. in a research note on Tuesday. Finally, Tigress Financial restated a "strong-buy" rating and issued a $375.00 price objective (up from $305.00) on shares of Apple in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $313.11.

Apple Stock Down 0.8%

Shares of AAPL stock opened at $314.86 on Wednesday. The stock's 50 day simple moving average is $301.09 and its 200 day simple moving average is $275.89. Apple Inc. has a twelve month low of $201.50 and a twelve month high of $323.45. 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 company has a market capitalization of $4.62 trillion, a price-to-earnings ratio of 38.07, a PEG ratio of 2.76 and a beta of 1.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its 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 firm had revenue of $111.18 billion during the quarter, compared to analysts' expectations of $109.46 billion. During the same quarter in the prior year, the business earned $1.65 earnings per share. The company's revenue was up 16.6% on a year-over-year basis. As a group, research analysts predict that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders 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 represents a $1.08 dividend on an annualized basis and a yield of 0.3%. This is a positive change from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio (DPR) is presently 13.06%.

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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