Apple Inc. $AAPL Position Boosted by Ascent Wealth Partners LLC

Key Points

• Ascent Wealth Partners increased its Apple position by 4.4% in the first quarter, bringing its holdings to 156,850 shares worth approximately $39.8 million. Apple represents 4.6% of the firm’s portfolio, while institutional investors collectively own 67.73% of the stock.
• Apple reported quarterly EPS of $2.02 versus the $1.89 consensus estimate, while revenue rose 16.4% year over year to $109.42 billion. The company also declared a quarterly dividend of $0.27 per share, yielding 0.4% annually.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $331.60; recent targets range from $270 to $375. Apple shares opened at $303.42, with valuation metrics including a 34.80 P/E ratio and a $4.46 trillion market capitalization.

Ascent Wealth Partners LLC boosted its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 156,850 shares of the iPhone maker's stock after buying an additional 6,569 shares during the period. Apple accounts for approximately 4.6% of Ascent Wealth Partners LLC's holdings, making the stock its 3rd largest holding. Ascent Wealth Partners LLC's holdings in Apple were worth $39,807,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. First National Bank of Hutchinson increased its stake in shares of Apple by 24.6% in the fourth 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 last quarter. Eagle Capital Management LLC boosted its stake in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after acquiring an additional 272 shares during the last quarter. Brighton Jones LLC grew its holdings in Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after acquiring an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock worth $16,742,000 after acquiring an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE increased its position in shares of 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 purchasing an additional 1,155 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

More Apple News

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Jefferies Financial Group reiterated a "hold" rating on shares of Apple in a research note on Tuesday, June 9th. Wells Fargo & Company reissued an "overweight" rating and set a $350.00 price target (up from $310.00) on shares of Apple in a research report on Friday. Tigress Financial restated a "strong-buy" rating and set a $375.00 price objective (up from $305.00) on shares of Apple in a research note on Thursday, May 14th. DA Davidson reaffirmed a "neutral" rating and issued a $270.00 price objective on shares of Apple in a report on Friday. Finally, UBS Group reissued a "neutral" rating on shares of Apple in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $331.60.

Insider Buying and Selling at Apple

In related news, insider Ben Borders sold 116 shares of Apple stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the transaction, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

Shares of NASDAQ AAPL opened at $303.42 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The firm has a market capitalization of $4.46 trillion, a PE ratio of 34.80, a P/E/G ratio of 2.65 and a beta of 1.09. Apple Inc. has a 1-year low of $201.68 and a 1-year high of $344.57. The business's fifty day moving average price is $309.40 and its two-hundred day moving average price is $281.90.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The business had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. During the same period in the previous year, the firm posted $1.57 earnings per share. The business's revenue was up 16.4% on a year-over-year basis. On average, research analysts expect that Apple Inc. will post 8.8 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, August 10th. Apple's dividend payout ratio is 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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