Clearwave Capital LLC Invests $4.54 Million in Apple Inc. $AAPL

Key Points

• Clearwave Capital LLC initiated a new position in Apple, buying 16,712 shares worth about $4.54 million. Apple now accounts for roughly 3.4% of the firm’s portfolio and is its sixth-largest holding.
• Apple continues to attract strong institutional interest, with major investors like Norges Bank, Nuveen, and Vanguard adding or maintaining large stakes. Overall, institutional investors own about 67.73% of Apple’s shares.
• Analysts remain broadly bullish on Apple, with a consensus rating of Moderate Buy and an average price target of $314.59. The company also recently beat quarterly EPS and revenue estimates and raised its quarterly dividend to $0.27 per share.

Clearwave Capital LLC bought a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 16,712 shares of the iPhone maker's stock, valued at approximately $4,543,000. Apple makes up approximately 3.4% of Clearwave Capital LLC's investment portfolio, making the stock its 6th biggest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Apple during the 4th quarter valued at $52,266,468,000. Nuveen LLC bought a new stake in shares of Apple during the first quarter worth $17,472,482,000. Cardano Risk Management B.V. grew its holdings in shares of Apple by 890.7% during the fourth quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker's stock worth $11,413,990,000 after purchasing an additional 37,746,784 shares during the last quarter. Laurel Wealth Advisors LLC raised its holdings in shares of Apple by 20,464.8% in the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker's stock valued at $5,553,753,000 after buying an additional 26,937,401 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Apple by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock worth $387,749,545,000 after buying an additional 26,856,752 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

AAPL has been the subject of a number of research analyst reports. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $310.00 target price (up from $300.00) on shares of Apple in a research note on Friday, May 1st. Bank of America reissued a "buy" rating and issued a $380.00 price target on shares of Apple in a report on Thursday. Citigroup restated a "buy" rating on shares of Apple in a research report on Monday, June 1st. Morgan Stanley set a $325.00 price objective on Apple in a report on Tuesday, June 9th. Finally, UBS Group reissued a "buy" rating on shares of Apple in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Apple has an average rating of "Moderate Buy" and a consensus price target of $314.59.

Insider Buying and Selling

In other Apple news, SVP Deirdre O'brien sold 30,002 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total value of $7,661,010.70. Following the sale, the senior vice president directly owned 136,810 shares in the company, valued at approximately $34,934,433.50. This trade represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 Apple 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 transaction, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $3,675,650. This represents a 10.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 97,875 shares of company stock valued at $24,998,541. Insiders own 0.06% of the company's stock.

Apple Stock Performance

Shares of Apple stock opened at $298.01 on Monday. The firm has a fifty day moving average of $289.73 and a two-hundred day moving average of $272.91. The stock has a market capitalization of $4.38 trillion, a price-to-earnings ratio of 36.04, a PEG ratio of 2.59 and a beta of 1.09. Apple Inc. has a 52 week low of $196.85 and a 52 week 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.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. During the same period last year, the company earned $1.65 EPS. The firm's revenue was up 16.6% on a year-over-year basis. As a group, equities research analysts predict that Apple Inc. will post 8.75 EPS for the current 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 given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, May 11th. This is an increase from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio is presently 13.06%.

Key Headlines Impacting Apple

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

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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