Apple Inc. $AAPL Stock Position Increased by Uhlmann Price Securities LLC

Key Points

• Uhlmann Price Securities increased its Apple stake by 199.2% in the first quarter, adding 29,104 shares to bring its total to 43,717 shares valued at about $11.0 million.
• Apple reported better-than-expected quarterly results, with EPS of $2.01 versus $1.95 expected and revenue of $111.18 billion versus $109.46 billion expected. Revenue rose 16.6% year over year.
• The company also raised its quarterly dividend to $0.27 per share from $0.26, while analysts currently hold a consensus rating of Moderate Buy with an average price target of $314.85.

Uhlmann Price Securities LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 199.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,717 shares of the iPhone maker's stock after buying an additional 29,104 shares during the period. Apple makes up about 0.7% of Uhlmann Price Securities LLC's investment portfolio, making the stock its 3rd largest holding. Uhlmann Price Securities LLC's holdings in Apple were worth $11,031,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Financial Designs Corp bought a new stake in Apple during the 1st quarter valued at about $777,000. ARS Investment Partners LLC increased its position in Apple by 5.2% during the first quarter. ARS Investment Partners LLC now owns 334,764 shares of the iPhone maker's stock valued at $84,960,000 after acquiring an additional 16,531 shares during the last quarter. McClarren Financial Advisors Inc. lifted its stake in shares of Apple by 115.1% in the 1st quarter. McClarren Financial Advisors Inc. now owns 20,739 shares of the iPhone maker's stock worth $5,263,000 after purchasing an additional 11,098 shares during the period. Lexington Hill Partners LLC raised its position in Apple by 11.7% in the first quarter. Lexington Hill Partners LLC now owns 21,907 shares of the iPhone maker's stock worth $5,560,000 after acquiring an additional 2,295 shares during the period. Finally, RFG Holdings Inc. grew its position in shares of Apple by 0.4% during the 1st quarter. RFG Holdings Inc. now owns 15,770 shares of the iPhone maker's stock valued at $4,002,000 after acquiring an additional 64 shares during the period. 67.73% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Timothy D. Cook sold 64,949 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total value of $16,511,984.27. Following the sale, the chief executive officer directly owned 3,280,418 shares of the company's stock, valued at $833,980,668.14. This represents a 1.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Deirdre O'brien sold 30,002 shares of the firm's stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the completion of the sale, the senior vice president directly owned 136,810 shares of the company's stock, valued at approximately $34,934,433.50. The trade was 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. Over the last three months, insiders have sold 97,875 shares of company stock worth $24,998,541. 0.06% of the stock is currently owned by insiders.

Apple Stock Down 0.4%

NASDAQ AAPL opened at $293.05 on Thursday. The stock has a 50 day moving average price of $291.83 and a 200-day moving average price of $273.15. Apple Inc. has a one year low of $199.26 and a one year high of $317.40. 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 company has a market capitalization of $4.30 trillion, a P/E ratio of 35.44, a P/E/G ratio of 2.56 and a beta of 1.09.

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 for the quarter, topping the consensus estimate of $1.95 by $0.06. The company had revenue of $111.18 billion for the quarter, compared to analysts' expectations of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. Apple's quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.65 earnings per share. As a group, equities analysts predict that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

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

Analysts Set New Price Targets

A number of research firms recently weighed in on AAPL. Needham & Company LLC restated a "hold" rating on shares of Apple in a research note on Tuesday, June 9th. Maxim Group reaffirmed a "buy" rating and set a $350.00 price objective (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. Evercore reiterated an "outperform" rating on shares of Apple in a research report on Monday, June 8th. Barclays reissued an "underweight" rating on shares of Apple in a report on Tuesday, June 9th. Finally, UBS Group restated a "buy" rating on shares of Apple in a research report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $314.85.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s new Siri and broader AI reset is being viewed positively by analysts, with BofA reiterating a Buy rating and saying the WWDC update could strengthen Apple’s AI position and support the stock. BofA Says Apple’s (AAPL) New Siri Strategy Could Strengthen its AI Position
• Positive Sentiment: Apple’s reported chip partnership with Intel is being framed as strategically important, with investors focused on supply-chain diversification and a longer-term domestic chip roadmap that could benefit future product cycles. Apple-Intel chip deal makes strategic sense but production is years away
• Positive Sentiment: Several market commentaries say Apple shares are building toward a possible breakout, with the stock staying close to its all-time high and forming a fresh buy zone as momentum improves. Apple Stock Polishing New Buy Zone With All-Time High In Sight
• Neutral Sentiment: Apple is also drawing attention for comments from Eddy Cue about expanding entertainment offerings on Apple TV and in theaters, which supports the long-term services story but is not an immediate earnings catalyst. Apple aims for better and more entertainment offerings, executive Cue says
• Negative Sentiment: Investors are still weighing headwinds from rising memory costs and the possibility of iPhone price increases, which could pressure demand if Apple passes through higher component prices. Apple Price Hike Fears May Be Overblown, Says J.P. Morgan
• Negative Sentiment: Apple also faces legal overhang after a UK tribunal allowed a $4 billion iCloud class-action lawsuit to proceed, adding another potential regulatory and financial risk. Apple supplier Lingyi iTech prices $1.06 billion Hong Kong IPO to tap AI demand

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.

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