Apple Inc. $AAPL is Pursue Wealth Partners LLC's 5th Largest Position

Key Points

• Pursue Wealth Partners LLC increased its Apple stake by 58.6% in the fourth quarter, making Apple its 5th largest position at 4.2% of holdings, worth about $8.56 million.
• Apple reported a strong quarter, with EPS of $2.01 beating estimates and revenue of $111.18 billion topping forecasts; revenue also rose 16.6% year over year.
• The company raised its quarterly dividend to $0.27 per share, while analysts remain broadly positive with a consensus Moderate Buy rating and average price target of $305.74.

Pursue Wealth Partners LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 58.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,467 shares of the iPhone maker's stock after acquiring an additional 11,623 shares during the period. Apple comprises approximately 4.2% of Pursue Wealth Partners LLC's holdings, making the stock its 5th largest position. Pursue Wealth Partners LLC's holdings in Apple were worth $8,555,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. First National Bank of Hutchinson boosted its holdings in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock worth $8,845,000 after buying 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 boosted its holdings 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 during the period. Revolve Wealth Partners LLC boosted its holdings in Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock worth $16,742,000 after buying an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE boosted its holdings in Apple by 2.4% in the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock worth $12,587,000 after buying an additional 1,155 shares during the period. Institutional investors own 67.73% of the company's stock.

Apple Stock Up 2.0%

Shares of NASDAQ AAPL opened at $293.25 on Friday. The firm's 50-day moving average price is $261.85 and its 200-day moving average price is $266.04. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $4.31 trillion, a price-to-earnings ratio of 35.46, a P/E/G ratio of 2.50 and a beta of 1.06. Apple Inc. has a 12-month low of $193.46 and a 12-month high of $294.76.

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, beating the consensus estimate of $1.95 by $0.06. The firm had revenue of $111.18 billion for the quarter, compared to analysts' expectations of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business's revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.65 EPS. On average, equities research analysts anticipate that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Monday, May 11th will be given a dividend of $0.27 per share. The ex-dividend date is Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. This is a positive change from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio is currently 12.58%.

Insider Buying and Selling

In related news, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction dated Thursday, April 23rd. The shares were 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 $3,675,650. This represents a 10.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 64,949 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 3,280,418 shares in the company, valued at $833,980,668.14. This trade represents 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. Insiders have sold 96,485 shares of company stock valued at $24,594,845 in the last ninety days. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Stephens set a $315.00 price objective on shares of Apple in a report on Monday, January 26th. Scotiabank set a $330.00 price objective on shares of Apple in a report on Monday, February 2nd. The Goldman Sachs Group reissued a "buy" rating on shares of Apple in a report on Monday, March 2nd. Jefferies Financial Group set a $330.00 price objective on shares of Apple in a report on Wednesday, March 4th. Finally, Monness Crespi & Hardt increased their price objective on shares of Apple from $315.00 to $335.00 and gave the company a "buy" rating in a report on Friday, May 1st. One investment 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $305.74.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Wedbush lifted Apple’s price target to $400 and said AI could drive a major growth wave for AAPL. Apple price target boosted by Wedbush on AI monetization expectations
• Positive Sentiment: Reports that Apple reached a preliminary chip-making deal with Intel boosted confidence in Apple’s manufacturing strategy and supply chain flexibility. Apple, Intel Have Reached Preliminary Chip-Making Agreement
• Positive Sentiment: Analysts see WWDC as a potential inflection point, with upcoming AI-related software features seen as a possible catalyst for Apple’s next leg higher. Apple’s biggest bull is now calling for a 37% stock jump
• Neutral Sentiment: Apple remains near its recent highs after strong quarterly results, keeping investor expectations elevated ahead of the next catalyst. Dow Jones Futures: Market At Highs With Iran, Trump-Xi Summit In Focus; Apple, Nvidia, Boeing In Buy Areas
• Negative Sentiment: Apple also faces ongoing legal and regulatory noise, including a Siri settlement and App Store antitrust disputes, which could weigh on sentiment if they escalate. Apple promised a smarter Siri, but a lawsuit says it didn’t deliver—and you can get up to $95 back

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.