GK Wealth Management LLC lessened its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 67.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 8,730 shares of the iPhone maker's stock after selling 18,430 shares during the period. Apple comprises approximately 1.3% of GK Wealth Management LLC's portfolio, making the stock its 16th largest position. GK Wealth Management LLC's holdings in Apple were worth $2,527,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. First National Bank of Hutchinson raised its holdings in shares of Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after buying an additional 6,982 shares during the period. Eagle Capital Management LLC lifted its stake in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after acquiring an additional 272 shares in the last quarter. Brighton Jones LLC lifted its stake in Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after acquiring an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after acquiring an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE boosted its holdings in Apple by 2.4% during the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock valued at $12,587,000 after acquiring an additional 1,155 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on the stock. Monness Crespi & Hardt boosted their price target on shares of Apple from $315.00 to $335.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Evercore reissued an "outperform" rating on shares of Apple in a research note on Wednesday, July 8th. Jefferies Financial Group cut shares of Apple from a "buy" rating to an "underperform" rating and dropped their price objective for the company from $285.56 to $263.66 in a report on Monday, August 10th. Barclays reaffirmed an "underweight" rating and set a $245.00 target price (down from $253.00) on shares of Apple in a research note on Friday, July 31st. Finally, Seaport Research Partners lowered shares of Apple from a "buy" rating to a "neutral" rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $330.53.
View Our Latest Analysis on Apple
Apple News Summary
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Analyst upgrade and bullish outlook: Rothschild & Co. Redburn upgraded Apple from “Neutral” to “Buy” and raised its price target to $400, implying substantial upside. Morgan Stanley also identified Apple among large-cap technology stocks showing a bullish technical signal. Apple stock upgrade and price target
- Positive Sentiment: Apple positioned as an AI and volatility hedge: Analysts argue that Apple’s restrained AI infrastructure spending limits capital-expenditure and valuation risk relative to peers committing hundreds of billions of dollars to AI. Some investors also view Apple as an underappreciated AI beneficiary through its installed base and potential improvements to Siri. Apple's low AI spending
- Positive Sentiment: Macro support: Retreating Treasury yields helped restore demand for mega-cap technology stocks, while Apple showed relative strength even as semiconductor shares and parts of the technology sector weakened. Apple stock and Treasury yields
- Positive Sentiment: Product optionality: Reports that a future foldable iPhone could support an estimated 11% increase in average iPhone prices provide a potential catalyst for revenue and margin growth, although the product remains unannounced. Apple foldable iPhone outlook
Apple Price Performance
Shares of NASDAQ AAPL opened at $316.83 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The company has a market cap of $4.62 trillion, a price-to-earnings ratio of 36.33, a price-to-earnings-growth ratio of 2.66 and a beta of 1.09. The stock's 50-day moving average is $309.95 and its two-hundred day moving average is $286.52. Apple Inc. has a 1-year low of $223.78 and a 1-year high of $344.57.
Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The business had revenue of $109.42 billion during the quarter, compared to analysts' expectations of $109.04 billion. During the same quarter last year, the business posted $1.57 EPS. The business's quarterly revenue was up 16.4% compared to the same quarter last year. Analysts forecast that Apple Inc. will post 8.76 EPS for the current fiscal year.
Apple Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were issued a $0.27 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.08 annualized dividend and a yield of 0.3%. Apple's dividend payout ratio (DPR) is 12.39%.
Insider Buying and Selling
In related news, SVP Jennifer Newstead sold 1,439 shares of Apple stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $307.75, for a total value of $442,852.25. Following the completion of the transaction, the senior vice president owned 40,107 shares in the company, valued at $12,342,929.25. The trade was a 3.46% decrease in their ownership of the stock. 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 business'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 transaction of $34,236.24. Following the transaction, the insider owned 38,713 shares of the company's stock, valued at $11,425,754.82. This trade represents 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. 0.06% of the stock is owned by insiders.
About Apple
(
Free Report)
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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