Baron Wealth Management LLC Has $14.43 Million Stake in Apple Inc. $AAPL

Key Points

• Baron Wealth Management LLC increased its Apple stake by 55% in the first quarter, buying 20,175 more shares and bringing its position to 56,850 shares worth about $14.43 million. Apple now accounts for about 4.3% of the firm’s portfolio.
• Apple’s latest earnings beat expectations, with Q2 EPS of $2.01 versus the $1.95 estimate and revenue of $111.18 billion, up 16.6% year over year. The company also raised its quarterly dividend to $0.27 per share.
• Wall Street remains broadly bullish on Apple, with analysts assigning a Moderate Buy consensus and an average price target of $314.85. However, insider selling and recent legal and cost-pressure headlines add some near-term overhangs.

Baron Wealth Management LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 55.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,850 shares of the iPhone maker's stock after purchasing an additional 20,175 shares during the quarter. Apple makes up about 4.3% of Baron Wealth Management LLC's investment portfolio, making the stock its 5th largest position. Baron Wealth Management LLC's holdings in Apple were worth $14,428,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of AAPL. Lifetime Wealth Management P.C. bought a new stake in Apple in the 4th quarter valued at $41,000. ROSS JOHNSON & Associates LLC lifted its holdings in shares of 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 acquiring an additional 180 shares during the period. Timmons Wealth Management LLC acquired a new stake in shares of Apple during the 4th quarter valued at about $69,000. LSV Asset Management acquired a new stake in shares of Apple during the 4th quarter valued at about $65,000. Finally, Inspire Investing LLC bought a new stake in Apple in the fourth quarter valued at about $76,000. 67.73% of the stock is currently owned by institutional investors.

Apple Price Performance

Shares of Apple stock opened at $294.98 on Wednesday. The stock has a market capitalization of $4.33 trillion, a price-to-earnings ratio of 35.67, a P/E/G ratio of 2.58 and a beta of 1.09. The firm's 50-day moving average price is $291.15 and its two-hundred day moving average price is $273.06. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. Apple Inc. has a 1-year low of $199.26 and a 1-year high of $317.40.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.95 by $0.06. The company had revenue of $111.18 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 earnings per share. On average, equities analysts predict that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AAPL shares. Bank of America reissued a "buy" rating and issued a $380.00 price target on shares of Apple in a research report on Thursday, June 18th. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a report on Tuesday, June 9th. Robert W. Baird set a $310.00 target price on Apple in a report on Friday, May 1st. Tigress Financial restated a "strong-buy" rating and set a $375.00 target price (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. Finally, Rosenblatt Securities restated a "neutral" rating and set a $276.00 target price 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 assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $314.85.

Insiders Place Their Bets

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the business'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 transaction, the chief financial officer owned 13,366 shares of the company's stock, valued at approximately $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ben Borders sold 1,274 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the sale, the insider owned 38,713 shares in the company, valued at $11,226,770. The trade was a 3.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 97,875 shares of company stock worth $24,998,541. 0.06% of the stock is owned by company insiders.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Wall Street is becoming more optimistic about Apple’s new Siri and AI strategy after the post-WWDC selloff, suggesting investors may be overreacting to near-term skepticism. After an Initial Panic, Wall Street's Leaning Into Apple's New Siri AI
• Positive Sentiment: Reports that Apple has agreed to partner with Intel to design and manufacture chips in the U.S. are being viewed as a supply-chain diversification win and a long-term catalyst for Apple’s hardware roadmap. Apple’s Intel Deal Arrives at the Right Time for Its Stock
• Positive Sentiment: Tim Cook’s comments about higher memory costs and upcoming price increases are being interpreted by some analysts as supportive of Apple’s earnings power, since price hikes could help offset component inflation. Apple: Empirical Evidence Suggests Upcoming Price Hikes Will Boost Earnings
• Neutral Sentiment: Apple’s TV and streaming strategy is drawing attention, but the discussion appears more explanatory than immediately material to the stock. Apple Explains TV Library Strategy
• Neutral Sentiment: A Zacks comparison of NVIDIA and Apple highlights Apple’s lower valuation and services strength, reinforcing the stock’s defensive appeal without changing the near-term setup. NVIDIA vs. Apple: Which Tech Titan Is the Better Buy Right Now?
• Negative Sentiment: Britain’s competition tribunal approved a £3 billion class action over iCloud fees, adding a meaningful legal overhang and potential financial liability for Apple. UK tribunal gives go ahead for $4 billion lawsuit against Apple over iCloud services
• Negative Sentiment: Apple also faces reputational risk after closing its first unionized U.S. store, with the union accusing the company of retaliation. Apple Just Closed Its First Unionized U.S. Store
• Negative Sentiment: Several reports say Apple is forcing price increases on hardware because memory and chip costs are rising, which could pressure demand if consumers push back. Memory's price surge threatens Apple's 'magic formula' — and the economy

Apple Company 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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