Apple Inc. $AAPL Shares Purchased by Blue Capital Inc.

Key Points

• Blue Capital Inc. increased its Apple stake by 34.7% in the fourth quarter, buying 1,933 more shares and bringing its total to 7,507 shares valued at about $2.04 million.
• Apple continues to attract bullish analyst coverage, with several firms reiterating or raising ratings and price targets; the consensus rating is Moderate Buy with an average target of $314.59.
• Recent operating updates were generally strong, as Apple beat quarterly EPS and revenue estimates, while also raising its dividend; however, reports note that planned price increases could help margins but may also weigh on demand.

Blue Capital Inc. boosted its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 34.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,507 shares of the iPhone maker's stock after acquiring an additional 1,933 shares during the period. Apple accounts for about 1.5% of Blue Capital Inc.'s portfolio, making the stock its 24th largest holding. Blue Capital Inc.'s holdings in Apple were worth $2,041,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC increased its holdings in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after purchasing an additional 180 shares during the period. Timmons Wealth Management LLC purchased a new position in Apple during the 4th quarter worth approximately $69,000. LSV Asset Management acquired a new stake in Apple during the 4th quarter worth $65,000. Inspire Investing LLC purchased a new stake in Apple during the 4th quarter valued at approximately $76,000. Finally, Basso Capital Management L.P. purchased a new position in Apple in the 4th quarter valued at $88,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s planned price increases could protect margins as memory and storage costs rise, and Bank of America reiterated a Buy rating with a $380 target, citing Apple’s pricing power and supply-chain strength. Article Title
• Positive Sentiment: Reports of upcoming AI-focused devices and a second-generation iPhone Air support confidence in Apple’s product pipeline and longer-term growth story. Article Title
• Neutral Sentiment: Apple’s planned price hikes may help earnings, but they could also pressure demand if consumers balk at higher handset prices. Article Title
• Neutral Sentiment: Apple opening Brazil’s App Store to alternative marketplaces reduces regulatory friction there, but it also underscores ongoing global platform scrutiny. Article Title

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 64,949 shares of the business's stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total value 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. The trade was a 1.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $421,850.00. Following the completion of the transaction, the chief financial officer owned 13,366 shares in the company, valued at $3,675,650. The trade was a 10.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 97,875 shares of company stock valued at $24,998,541 in the last ninety days. Company insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of research reports. Monness Crespi & Hardt raised their price objective on Apple from $315.00 to $335.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Citigroup reissued a "buy" rating on shares of Apple in a research report on Monday, June 1st. BNP Paribas Exane raised shares of Apple from a "neutral" rating to an "outperform" rating and set a $300.00 target price on the stock in a research report on Friday, April 17th. Morgan Stanley set a $325.00 price target on Apple in a report on Tuesday, June 9th. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $270.00 target price on shares of Apple in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $314.59.

Apple Price Performance

NASDAQ AAPL opened at $298.01 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The firm has a 50-day simple moving average of $289.73 and a 200 day simple moving average of $272.98. Apple Inc. has a twelve month low of $196.85 and a twelve month high of $317.40. The stock has a market cap of $4.38 trillion, a PE ratio of 36.04, a PEG ratio of 2.59 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $0.06. The business had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. Apple's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.65 earnings per share. On average, research analysts forecast that Apple Inc. will post 8.75 EPS for the current year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. This is an increase from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio is presently 13.06%.

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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