Beaumont Asset Management L.L.C. Increases Stock Holdings in Apple Inc. $AAPL

Key Points

• Beaumont Asset Management increased its Apple stake by 152.2% in the first quarter, buying 3,742 additional shares to bring its total to 6,200 shares worth about $1.57 million.
• Apple continues to draw mostly bullish analyst coverage, with a consensus rating of “Moderate Buy” and an average price target of $314.85, despite some mixed hold/sell views.
• The company’s latest results were strong: Apple beat earnings and revenue estimates, reported 16.6% year-over-year revenue growth, and also raised its quarterly dividend to $0.27 per share.

Beaumont Asset Management L.L.C. boosted its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 152.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,200 shares of the iPhone maker's stock after purchasing an additional 3,742 shares during the quarter. Beaumont Asset Management L.L.C.'s holdings in Apple were worth $1,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. Isthmus Partners LLC grew its position in Apple by 6.4% in the third quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker's stock worth $25,000 after acquiring an additional 5,808 shares in the last quarter. Lifetime Wealth Management P.C. purchased a new position in shares of Apple during the 4th quarter valued at about $41,000. ROSS JOHNSON & Associates LLC lifted its position in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after buying an additional 180 shares during the last quarter. LSV Asset Management bought a new stake in Apple in the 4th quarter worth approximately $65,000. Finally, Timmons Wealth Management LLC purchased a new stake in Apple in the fourth quarter worth approximately $69,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent research reports. Robert W. Baird set a $310.00 price objective on shares of Apple in a report on Friday, May 1st. Bank of America reiterated a "buy" rating and issued a $380.00 target price on shares of Apple in a research report on Thursday, June 18th. Jefferies Financial Group reissued a "hold" rating on shares of Apple in a research note on Tuesday, June 9th. TD Cowen increased their target price on Apple from $335.00 to $350.00 and gave the company a "buy" rating in a report on Tuesday, June 9th. Finally, Oppenheimer restated a "market perform" rating on shares of Apple in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Apple has an average rating of "Moderate Buy" and a consensus target price of $314.85.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Reports that Apple plans at least five new iPhone models through early 2027, including a stronger foldable iPhone push, have reinforced expectations for a fresh product cycle and a longer growth runway. Apple plans five new iPhones through 2027, eyes Chinese-made chips amid foldable push, reports say
• Positive Sentiment: Apple also appears to be benefiting from investor optimism that it can navigate the memory-chip shortage and secure supply, including possible deals with lower-cost Chinese chipmakers, which could help protect future production. Apple negotiates with blacklisted Chinese chipmakers amid AI-driven memory crunch
• Positive Sentiment: Several market commentary pieces said Apple is holding up better than the broader tech sector, with traders viewing recent weakness as a buying opportunity and analysts still pointing to solid upside potential. Apple’s Aggressive Price Hikes Raise Eyebrows As Wall Street Links AI Chip Shortages To Inflation Pressure
• Neutral Sentiment: Apple’s recent price hikes on Macs and iPads are being interpreted two ways: as a sign of inflationary component costs, but also as a margin-protection move that may not hurt demand as much as feared. Jim Cramer’s Latest Thought on Apple Inc. (AAPL)
• Neutral Sentiment: Apple’s insider-selling activity and mixed institutional positioning are adding caution, but they are not the main driver of the stock today. Apple Stock (AAPL) Opinions on Recent Price Hikes and Analyst Views
• Negative Sentiment: Some coverage continues to flag pressure on Apple’s margins and demand if higher component costs force more price increases, which could weigh on sentiment over time. Is Apple stock in trouble? Rising costs threaten margins, demand

Insider Transactions at Apple

In related news, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction dated Thursday, April 23rd. The shares were 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 directly owned 13,366 shares in the company, valued at $3,675,650. This trade represents a 10.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ben Borders sold 116 shares of the company's stock in a transaction that occurred 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 sale, the insider owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 2,924 shares of company stock worth $825,546 over the last ninety days. Insiders own 0.06% of the company's stock.

Apple Stock Performance

Shares of AAPL opened at $308.63 on Monday. Apple Inc. has a 1-year low of $201.50 and a 1-year high of $317.40. 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 firm's 50-day moving average price is $295.25 and its 200-day moving average price is $273.84. The firm has a market capitalization of $4.53 trillion, a price-to-earnings ratio of 37.32, a PEG ratio of 2.68 and a beta of 1.10.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. During the same period in the prior year, the firm earned $1.65 earnings per share. Apple's revenue was up 16.6% on a year-over-year basis. Sell-side analysts anticipate that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. This is a positive change from Apple's previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. Apple's dividend payout ratio is currently 13.06%.

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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