Evolve Private Wealth LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 10.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 299,847 shares of the iPhone maker's stock after buying an additional 29,274 shares during the quarter. Apple accounts for 4.1% of Evolve Private Wealth LLC's portfolio, making the stock its 2nd biggest holding. Evolve Private Wealth LLC's holdings in Apple were worth $76,098,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vaughan Nelson Investment Management L.P. raised its position in Apple by 26.6% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 752,384 shares of the iPhone maker's stock worth $190,948,000 after acquiring an additional 158,269 shares in the last quarter. Balboa Wealth Partners boosted its position in shares of Apple by 1.3% during the 1st quarter. Balboa Wealth Partners now owns 70,637 shares of the iPhone maker's stock worth $17,927,000 after purchasing an additional 936 shares in the last quarter. Ballast Rock Private Wealth LLC boosted its position in shares of Apple by 7.8% during the 1st quarter. Ballast Rock Private Wealth LLC now owns 31,574 shares of the iPhone maker's stock worth $8,013,000 after purchasing an additional 2,275 shares in the last quarter. Strong Tower Advisory Services increased its holdings in shares of Apple by 2.9% in the 1st quarter. Strong Tower Advisory Services now owns 41,631 shares of the iPhone maker's stock valued at $10,566,000 after purchasing an additional 1,190 shares in the last quarter. Finally, Forbes J M & Co. LLP increased its holdings in shares of Apple by 0.9% in the 1st quarter. Forbes J M & Co. LLP now owns 248,512 shares of the iPhone maker's stock valued at $63,070,000 after purchasing an additional 2,225 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
Analyst Ratings Changes
A number of research firms recently commented on AAPL. Jefferies Financial Group reissued a "hold" rating on shares of Apple in a report on Tuesday, June 9th. Maxim Group reaffirmed a "buy" rating and issued a $350.00 target price (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Apple in a research report on Monday, June 8th. Oppenheimer reissued a "market perform" rating on shares of Apple in a research note on Tuesday, June 9th. Finally, Robert W. Baird set a $310.00 price target on Apple in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $314.85.
Check Out Our Latest Stock Analysis on Apple
Apple News Summary
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Some analysts say the price hikes could help Apple protect margins by passing through rising component costs, and long-term bulls still view the company as financially strong. Article Title
- Neutral Sentiment: Apple’s AI strategy remains a work in progress, with some coverage saying the company’s AI upgrade likely will not be a major near-term catalyst for the stock. Article Title
- Negative Sentiment: Apple’s decision to raise Mac and iPad prices has sparked concern about weaker demand and “demand friction,” especially if consumers push back on higher-priced devices. Article Title
- Negative Sentiment: Broader market weakness and a tech selloff added pressure, with Apple leading the downside among major technology names. Article Title
Insider Buying and Selling
In other Apple news, CFO Kevan Parekh sold 1,534 shares of the firm's stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the completion of the transaction, the chief financial officer 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ben Borders sold 116 shares of the business's 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 completion of the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 97,875 shares of company stock worth $24,998,541 in the last quarter. Corporate insiders own 0.06% of the company's stock.
Apple Stock Performance
NASDAQ:AAPL opened at $275.15 on Friday. 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 company has a market capitalization of $4.04 trillion, a P/E ratio of 33.27, a price-to-earnings-growth ratio of 2.55 and a beta of 1.09. The firm has a 50-day moving average price of $292.16 and a two-hundred day moving average price of $273.12. Apple Inc. has a twelve month low of $199.26 and a twelve month high of $317.40.
Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly 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 company had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.65 earnings per share. As a group, research analysts expect that Apple Inc. will post 8.74 earnings per share for the current fiscal year.
Apple Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, May 11th. This is an increase from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio is currently 13.06%.
About Apple
(
Free Report)
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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