Fairway Wealth LLC Boosts Holdings in Apple Inc. $AAPL

Key Points

• Fairway Wealth LLC increased its Apple stake by 60.3% in the first quarter, buying 1,801 additional shares and bringing its total holdings to 4,787 shares worth about $1.215 million.
• Apple reported stronger-than-expected quarterly results, posting EPS of $2.01 versus the $1.95 estimate on revenue of $111.18 billion, with revenue up 16.6% year over year.
• Apple raised its quarterly dividend to $0.27 per share from $0.26, though the yield remains low at about 0.3%.

Fairway Wealth LLC lifted its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 60.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,787 shares of the iPhone maker's stock after acquiring an additional 1,801 shares during the quarter. Fairway Wealth LLC's holdings in Apple were worth $1,215,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in AAPL. Investment Planning Advisors Inc. lifted its stake in shares of Apple by 13.3% in the 1st quarter. Investment Planning Advisors Inc. now owns 5,825 shares of the iPhone maker's stock valued at $1,478,000 after acquiring an additional 683 shares during the last quarter. Catalina Capital Group LLC increased its stake in Apple by 7.8% in the 1st quarter. Catalina Capital Group LLC now owns 29,132 shares of the iPhone maker's stock worth $7,393,000 after purchasing an additional 2,110 shares during the period. Dupree Financial Group LLC increased its stake in Apple by 0.3% in the 1st quarter. Dupree Financial Group LLC now owns 19,412 shares of the iPhone maker's stock worth $4,927,000 after purchasing an additional 57 shares during the period. Next Level Private LLC lifted its position in Apple by 141.3% in the first quarter. Next Level Private LLC now owns 89,544 shares of the iPhone maker's stock valued at $22,725,000 after purchasing an additional 52,433 shares during the last quarter. Finally, Walleye Partners LLC boosted its stake in shares of Apple by 51.9% during the first quarter. Walleye Partners LLC now owns 3,809 shares of the iPhone maker's stock valued at $967,000 after purchasing an additional 1,302 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Performance

Apple stock opened at $313.39 on Thursday. The stock's 50 day simple moving average is $297.74 and its two-hundred day simple moving average is $274.68. 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 stock has a market cap of $4.60 trillion, a price-to-earnings ratio of 37.89, a PEG ratio of 2.70 and a beta of 1.10. Apple Inc. has a fifty-two week low of $201.50 and a fifty-two week 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 for the quarter, topping 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 firm had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. During the same quarter in the prior year, the business earned $1.65 EPS. The business's revenue for the quarter was up 16.6% on a year-over-year basis. As a group, analysts expect that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

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

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: The Broadcom agreement should improve Apple’s supply chain resiliency, reduce reliance on overseas suppliers, and strengthen its domestic manufacturing story. Apple to increase spend with Broadcom to produce billions more U.S. chips
• Positive Sentiment: Wall Street is also taking the deal as a sign that Apple is investing aggressively in its long-term chip and AI infrastructure, which could support future product launches and margin stability. Apple Announces Broadcom Chip Deal Worth More Than $30 Billion
• Neutral Sentiment: Apple also lost an EU court challenge to the bloc’s Digital Markets Act, leaving its App Store and iOS under tougher antitrust obligations in Europe, but investors appear to be focusing more on the chip deal today. EU court rejects Apple's challenge against EU rules reining in Big Tech
• Neutral Sentiment: Separately, JPMorgan said recent hardware price increases are unlikely to hurt demand, reinforcing the view that Apple’s pricing power remains intact heading into earnings later this month. Apple price hikes unlikely to hurt demand, JPMorgan says as it raises PT

Insider Buying and Selling at Apple

In related news, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction dated 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 of the company's stock, 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 SEC, which is available at this hyperlink. Also, insider Ben Borders sold 116 shares of the business's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the sale, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 2,924 shares of company stock worth $825,546. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Morgan Stanley restated an "overweight" rating on shares of Apple in a report on Friday, June 26th. BNP Paribas Exane raised shares of Apple from a "neutral" rating to an "outperform" rating and set a $300.00 price target for the company in a research report on Friday, April 17th. Robert W. Baird set a $310.00 price target on shares of Apple in a report on Friday, May 1st. DA Davidson restated a "neutral" rating and issued a $270.00 price objective on shares of Apple in a research report on Friday, May 1st. Finally, Bank of America reaffirmed a "buy" rating and set a $380.00 price objective on shares of Apple in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $314.85.

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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