Forty three Eighteen Advisors LLC Invests $8.53 Million in Apple Inc. $AAPL

Key Points

• Forty three Eighteen Advisors LLC opened a new position in Apple, buying 31,373 shares valued at about $8.53 million. Apple now makes up roughly 6.6% of the firm’s portfolio, its second-largest holding.
• Apple reported better-than-expected fiscal Q3 results, with earnings of $2.01 per share versus estimates of $1.95 and revenue of $111.18 billion, ahead of forecasts. Revenue rose 16.6% from a year earlier.
• The company also raised its quarterly dividend to $0.27 per share from $0.26, while analysts remain generally positive with a Moderate Buy rating and an average target price of $314.85.

Forty three Eighteen Advisors LLC purchased a new position in Apple Inc. (NASDAQ:AAPL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 31,373 shares of the iPhone maker's stock, valued at approximately $8,529,000. Apple accounts for about 6.6% of Forty three Eighteen Advisors LLC's holdings, making the stock its 2nd largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. Isthmus Partners LLC boosted its holdings in shares of Apple by 6.4% in the third quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker's stock valued at $25,000 after purchasing an additional 5,808 shares during the period. Lifetime Wealth Management P.C. purchased a new position in Apple during the 4th quarter worth $41,000. ROSS JOHNSON & Associates LLC increased its holdings in 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 purchasing an additional 180 shares during the period. LSV Asset Management bought a new stake in Apple during the 4th quarter valued at $65,000. Finally, Timmons Wealth Management LLC bought a new stake in Apple during the 4th quarter valued at $69,000. Institutional investors own 67.73% of the company's stock.

Apple Trading Down 0.7%

AAPL opened at $294.98 on Wednesday. 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 has a market cap of $4.33 trillion, a price-to-earnings ratio of 35.67, a PEG ratio of 2.58 and a beta of 1.09. Apple Inc. has a 12 month low of $199.26 and a 12 month high of $317.40. The stock has a fifty day moving average price of $291.15 and a 200-day moving average price of $273.06.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share 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 company had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. During the same quarter last year, the company earned $1.65 earnings per share. The firm's revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, equities research analysts anticipate 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. Stockholders of record on Monday, May 11th were issued a $0.27 dividend. The ex-dividend date was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. This is an increase from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio (DPR) is 13.06%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AAPL shares. Oppenheimer reissued a "market perform" rating on shares of Apple in a research report on Tuesday, June 9th. KGI Securities downgraded Apple from an "outperform" rating to a "hold" rating and set a $315.00 price objective for the company. in a report on Monday. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Apple in a research note on Monday, June 8th. Wells Fargo & Company reiterated an "overweight" rating and set a $310.00 target price (up from $300.00) on shares of Apple in a report on Friday, May 1st. Finally, KeyCorp reissued a "sector weight" rating on shares of Apple in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $314.85.

Insider Activity

In related news, CFO Kevan Parekh sold 1,534 shares of the business's 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 owned 13,366 shares in the company, valued at $3,675,650. The trade was a 10.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Deirdre O'brien sold 30,002 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the sale, the senior vice president directly owned 136,810 shares of the company's stock, valued at $34,934,433.50. The trade was a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 97,875 shares of company stock worth $24,998,541 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

More Apple News

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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

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.