Apple Inc. $AAPL is WealthTrust Asset Management LLC's 10th Largest Position

Key Points

• WealthTrust Asset Management increased its Apple position by 55.9% in the first quarter to 13,556 shares valued at $3.44 million, making Apple its 10th-largest holding. Hedge funds and institutional investors collectively own 67.73% of AAPL.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $331.60, despite ratings ranging from “underweight” to “strong buy.”
• Apple exceeded quarterly expectations with $2.02 in earnings per share and $109.42 billion in revenue, up 16.4% year over year. The company also declared a quarterly dividend of $0.27 per share, representing a 0.4% yield.

WealthTrust Asset Management LLC boosted its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 55.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,556 shares of the iPhone maker's stock after purchasing an additional 4,859 shares during the period. Apple comprises 2.1% of WealthTrust Asset Management LLC's holdings, making the stock its 10th biggest holding. WealthTrust Asset Management LLC's holdings in Apple were worth $3,440,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. Reyes Financial Architecture Inc. lifted its stake in shares of Apple by 0.4% during the 3rd quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker's stock worth $2,520,000 after acquiring an additional 37 shares during the last quarter. WESPAC Advisors LLC grew its position in shares of Apple by 0.3% during the 4th quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker's stock worth $3,351,000 after buying an additional 39 shares in the last quarter. Interactive Financial Advisors Inc. increased its position in Apple by 4.0% during the 4th quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker's stock valued at $286,000 after purchasing an additional 40 shares during the period. Sugar Maple Asset Management LLC increased its holdings in Apple by 2.0% during the first quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker's stock valued at $515,000 after buying an additional 40 shares during the period. Finally, Orion Investment Co increased its holdings in shares of Apple by 0.3% in the 4th quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker's stock valued at $3,902,000 after acquiring an additional 41 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on AAPL. KeyCorp reiterated an "underweight" rating and set a $250.00 price objective on shares of Apple in a research note on Tuesday, July 28th. KGI Securities lowered shares of Apple from an "outperform" rating to a "hold" rating and set a $315.00 price target on the stock. in a report on Monday, June 22nd. Maxim Group reaffirmed a "buy" rating and set a $350.00 price target (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. Bank of America reiterated a "buy" rating and set a $380.00 price objective on shares of Apple in a report on Thursday, June 18th. Finally, Tigress Financial reissued a "strong-buy" rating and issued a $375.00 price objective (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $331.60.

Insiders Place Their Bets

In other Apple news, insider Ben Borders sold 116 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the sale, the insider directly owned 38,713 shares of the company's stock, valued at approximately $11,425,754.82. This trade represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate 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: India proposed extending tax exemptions through 2041 for foreign companies supplying equipment to contract manufacturers. The policy could lower Apple’s manufacturing costs and support its strategy of shifting more iPhone production to India. India proposes extending tax breaks for contract manufacturing in a boost for Apple
• Positive Sentiment: Apple continues to generate substantial free cash flow, with analysts expecting strong cash generation to continue alongside higher revenue forecasts. This supports shareholder returns and provides financial flexibility, although the stock’s valuation limits the upside case. Apple Delivers Strong Free Cash Flow, But What is the Best AAPL Play?
• Positive Sentiment: A reported deal with PlasmaSolve could help Apple develop thinner, stronger device finishes by using software simulations before factory testing, potentially improving manufacturing yields and reducing testing costs. Apple Stock Drops as PlasmaSolve Deal Targets Thinner and Stronger Devices

Apple Stock Performance

Shares of NASDAQ AAPL opened at $303.42 on Tuesday. The company has a 50 day simple moving average of $309.40 and a two-hundred day simple moving average of $281.90. The stock has a market cap of $4.46 trillion, a price-to-earnings ratio of 34.80, a PEG ratio of 2.65 and a beta of 1.09. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. Apple Inc. has a 12 month low of $201.68 and a 12 month high of $344.57.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. During the same quarter in the prior year, the business earned $1.57 earnings per share. The business's quarterly revenue was up 16.4% compared to the same quarter last year. As a group, analysts predict that Apple Inc. will post 8.8 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, August 10th. Apple's dividend payout ratio is presently 12.39%.

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.

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