Dumont & Blake Investment Advisors LLC Has $19.48 Million Position in Apple Inc. $AAPL

Key Points

• Dumont & Blake Investment Advisors increased its Apple stake by 3.7% in the fourth quarter, bringing its holdings to 71,635 shares valued at about $19.48 million. Apple is now the firm’s third-largest position and makes up 4.7% of its portfolio.
• Apple reported a strong latest quarter, with $2.01 EPS versus the $1.95 estimate and $111.18 billion in revenue, up 16.6% year over year. The company also raised its quarterly dividend to $0.27 per share.
• Wall Street remains generally constructive on Apple, with a Moderate Buy consensus and several firms raising targets, including Wedbush at $400. At the same time, recent insider sales and competitive concerns in China and wearables could temper sentiment.

Dumont & Blake Investment Advisors LLC raised its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,635 shares of the iPhone maker's stock after acquiring an additional 2,565 shares during the quarter. Apple comprises 4.7% of Dumont & Blake Investment Advisors LLC's holdings, making the stock its 3rd largest position. Dumont & Blake Investment Advisors LLC's holdings in Apple were worth $19,475,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings 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 purchasing an additional 26,856,752 shares during the last quarter. State Street Corp grew its holdings in Apple by 0.9% in the 2nd quarter. State Street Corp now owns 601,249,995 shares of the iPhone maker's stock valued at $123,358,461,000 after buying an additional 5,224,229 shares in the last quarter. Geode Capital Management LLC grew its holdings in Apple by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 354,749,794 shares of the iPhone maker's stock valued at $72,506,336,000 after buying an additional 4,942,638 shares in the last quarter. Norges Bank bought a new position in Apple during the 2nd quarter worth $38,942,255,000. Finally, Northern Trust Corp increased its position in Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after buying an additional 20,079,472 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Ben Borders sold 1,274 shares of Apple stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the transaction, the insider directly owned 38,713 shares of the company's stock, valued at $11,226,770. This trade represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 97,759 shares of company stock valued at $24,964,305 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is reportedly cutting prices in China ahead of the June 18 “618” shopping holiday, a move that could boost unit sales and help defend market share in a key region, according to Wedbush. Dear Apple Stock Fans, Mark Your Calendars for June 18
• Positive Sentiment: Apple was highlighted as a top-ranked momentum stock by Zacks, reinforcing the idea that the shares continue to attract technical and style-based buying interest. Apple (AAPL) is a Top-Ranked Momentum Stock: Should You Buy?
• Positive Sentiment: Memorial Day tech promotions featuring Apple products may support short-term demand and keep the brand top of mind with consumers during a heavy shopping period. Memorial Day tech sales are live: Save up to 50% off on some of our favorite gadgets at Amazon, Apple, Best Buy and more
• Neutral Sentiment: Several commentary pieces framed Apple as a core mega-cap stock, but they did not introduce new fundamentals that would materially change the near-term outlook. Instead of Chasing Alpha, Here Are 4 Ways to Pick the Low-Hanging Apples
• Neutral Sentiment: Other articles discussed Apple in broader tech or portfolio contexts, including comparisons with Microsoft and ETF exposure, which are more informational than stock-moving on their own. Apple vs. Microsoft: What Their Revenue Trends Reveal for Investors
• Negative Sentiment: Huawei’s new smartphone chip plans add another competitive overhang for Apple, raising concerns about iPhone demand in China and the broader premium-phone market. Huawei unveils new smartphone chips this fall as rivalry with Nvidia and Apple heats up
• Negative Sentiment: A Bloomberg report said Apple’s Watch and health strategy needs a reboot to stay competitive, suggesting wearables remain an area where rivals could gain ground. Apple’s Watch and Health Efforts Need Reboot to Rival New Wearables
• Negative Sentiment: Some opinion pieces argued Apple may eventually lose momentum versus other mega-cap winners, which could weigh on sentiment even though these were long-term speculative takes rather than immediate catalysts. 3 Reasons Apple Will Be Booted From The Magnificent 7 By The End Of 2030

Apple Stock Performance

AAPL opened at $308.82 on Tuesday. 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 Inc. has a 52-week low of $193.46 and a 52-week high of $311.40. The firm has a market cap of $4.54 trillion, a P/E ratio of 37.34, a price-to-earnings-growth ratio of 2.69 and a beta of 1.06. The business's fifty day moving average is $270.70 and its 200-day moving average is $268.90.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $109.46 billion. During the same quarter in the previous year, the firm earned $1.65 earnings per share. Apple's revenue for the quarter was up 16.6% compared to the same quarter last year. Sell-side analysts expect that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

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

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent research reports. Wedbush reissued an "outperform" rating and issued a $400.00 target price (up from $350.00) on shares of Apple in a research report on Friday, May 8th. Jefferies Financial Group set a $330.00 price target on shares of Apple in a research report on Wednesday, March 4th. Maxim Group upgraded shares of Apple from a "hold" rating to a "buy" rating and set a $300.00 price objective for the company in a research note on Friday, January 30th. Evercore reissued an "outperform" rating and issued a $365.00 price objective on shares of Apple in a report on Thursday, May 14th. Finally, Monness Crespi & Hardt increased their target price on shares of Apple from $315.00 to $335.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. 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 issued a Sell rating to the company's stock. According to data from MarketBeat, Apple has a consensus rating of "Moderate Buy" and an average price target of $308.74.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.