Apple Inc. $AAPL is Rainier Family Wealth Inc.'s 4th Largest Position

Key Points

• Rainier Family Wealth Inc. boosted its Apple stake by 14.1% in the first quarter, bringing its holdings to 24,386 shares worth about $6.19 million. Apple is now the firm’s 4th largest position and makes up roughly 4.2% of its portfolio.
• Wall Street remains generally constructive on Apple, with the stock carrying a Moderate Buy consensus rating and an average price target of $314.85. Recent notes included bullish calls from Wedbush and Bank of America, while some firms stayed neutral.
• Apple reported strong quarterly results, posting EPS of $2.01 on revenue of $111.18 billion, both ahead of estimates. The company also raised its quarterly dividend to $0.27 per share, though concerns remain about margin pressure from rising chip costs and some insider selling.

Rainier Family Wealth Inc. increased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 14.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,386 shares of the iPhone maker's stock after purchasing an additional 3,014 shares during the quarter. Apple makes up approximately 4.2% of Rainier Family Wealth Inc.'s investment portfolio, making the stock its 4th biggest position. Rainier Family Wealth Inc.'s holdings in Apple were worth $6,189,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in AAPL. Lifetime Wealth Management P.C. bought a new stake in shares of Apple during the 4th quarter valued at $41,000. ROSS JOHNSON & Associates LLC raised its holdings in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after acquiring an additional 180 shares during the period. Timmons Wealth Management LLC purchased a new position in shares of Apple in the fourth quarter valued at about $69,000. LSV Asset Management purchased a new position in Apple in the 4th quarter worth approximately $65,000. Finally, Inspire Investing LLC bought a new position in shares of Apple during the fourth quarter worth $76,000. Institutional investors own 67.73% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on AAPL. Wedbush reiterated an "outperform" rating and issued a $400.00 price target on shares of Apple in a research note on Friday, June 5th. 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. Rosenblatt Securities reissued a "neutral" rating and set a $276.00 price target on shares of Apple in a research note on Tuesday, June 9th. The Goldman Sachs Group restated a "buy" rating on shares of Apple in a report on Monday, March 2nd. Finally, Oppenheimer reaffirmed a "market perform" rating on shares of Apple in a research note on Tuesday, June 9th. One equities 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 issued a Sell rating to the company. According to data from MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and an average target price of $314.85.

Insider Buying and Selling

In other news, insider Ben Borders sold 1,274 shares of Apple stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the transaction, the insider owned 38,713 shares in the company, valued at approximately $11,226,770. The trade was a 3.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Deirdre O'brien sold 30,002 shares of the business'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 transaction, the senior vice president directly owned 136,810 shares in the company, valued at approximately $34,934,433.50. This represents a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 97,875 shares of company stock worth $24,998,541 in the last 90 days. Company insiders own 0.06% of the company's stock.

Key Stories Impacting Apple

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

Apple Stock Up 3.3%

Shares of NASDAQ AAPL opened at $284.29 on Friday. The firm's 50-day moving average price is $292.51 and its 200-day moving average price is $273.20. 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 $4.18 trillion, a price-to-earnings ratio of 34.38, a P/E/G ratio of 2.47 and a beta of 1.09. Apple Inc. has a 12-month low of $199.26 and a 12-month high of $317.40.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly 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. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company 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 posted $1.65 earnings per share. The firm's revenue was up 16.6% on a year-over-year basis. On average, equities research analysts anticipate that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio is 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.

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.