Golden State Equity Partners Has $28.79 Million Stake in Apple Inc. $AAPL

Key Points

• Golden State Equity Partners increased its Apple stake by 3.5% in the fourth quarter, bringing its holdings to 105,881 shares valued at about $28.79 million. Apple now represents 4.6% of the firm’s portfolio and is its second-largest position.
• Apple reported better-than-expected quarterly results, posting $2.01 EPS on revenue of $111.18 billion, both above analyst estimates. Revenue rose 16.6% from a year earlier.
• The company raised its quarterly dividend to $0.27 per share from $0.26, while analysts currently rate the stock a Moderate Buy with an average price target of $308.74.

Golden State Equity Partners lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,881 shares of the iPhone maker's stock after acquiring an additional 3,618 shares during the quarter. Apple makes up 4.6% of Golden State Equity Partners' portfolio, making the stock its 2nd biggest position. Golden State Equity Partners' holdings in Apple were worth $28,785,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Norges Bank bought a new position in shares of Apple during the second quarter valued at approximately $38,942,255,000. Nuveen LLC bought a new position in Apple in the first quarter worth $17,472,482,000. Laurel Wealth Advisors LLC raised its holdings in 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 worth $5,553,753,000 after purchasing an additional 26,937,401 shares in the last quarter. Vanguard Group Inc. raised its holdings in Apple by 1.9% in the fourth 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 in the last quarter. Finally, Northern Trust Corp raised its holdings in Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $308.82 on Tuesday. Apple Inc. has a 1-year low of $193.46 and a 1-year high of $311.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The business has a fifty day moving average price of $270.70 and a 200-day moving average price of $268.90. The company has a market capitalization of $4.54 trillion, a PE ratio of 37.34, a PEG ratio of 2.69 and a beta of 1.06.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating 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 company had revenue of $111.18 billion for the quarter, compared to analysts' expectations of $109.46 billion. During the same period last year, the firm posted $1.65 earnings per share. Apple's revenue was up 16.6% compared to the same quarter last year. As a group, equities analysts expect that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors 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 0.3%. This is a boost from Apple's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. Apple's payout ratio is 13.06%.

Insiders Place Their Bets

In related news, CFO Kevan Parekh sold 1,534 shares of the 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 $34,934,433.50. This trade represents a 17.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 97,759 shares of company stock valued at $24,964,305. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on AAPL. Tigress Financial reiterated a "strong-buy" rating and issued a $375.00 price objective (up from $305.00) on shares of Apple in a report on Thursday, May 14th. Royal Bank Of Canada set a $325.00 price objective on Apple in a report on Monday, February 2nd. Moffett Nathanson increased their price objective on Apple from $241.00 to $270.00 and gave the stock a "neutral" rating in a report on Wednesday, February 25th. UBS Group set a $296.00 price objective on Apple and gave the stock a "neutral" rating in a report on Friday, May 1st. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $310.00 price objective (up from $300.00) on shares of Apple in a report on Friday, May 1st. One investment 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $308.74.

Key Stories 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 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.