Granite Bay Wealth Management LLC Has $10.27 Million Holdings in Apple Inc. $AAPL

Key Points

• Granite Bay Wealth Management boosted its Apple stake by 7.9% in Q1, ending with 40,448 shares valued at about $10.27 million. Apple is now its 12th-largest holding and makes up roughly 2.2% of the portfolio.
• Apple reported strong quarterly results, with earnings of $2.01 per share beating estimates and revenue of $111.18 billion topping expectations. The company also increased its quarterly dividend from $0.26 to $0.27 per share.
• Wall Street remains broadly bullish on Apple, with analysts issuing an average rating of “Moderate Buy” and an average target price of $327.40. Recent reports included upgrades and higher price targets, even as some commentary warned that valuation may be stretched.

Granite Bay Wealth Management LLC increased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 7.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 40,448 shares of the iPhone maker's stock after purchasing an additional 2,961 shares during the period. Apple comprises about 2.2% of Granite Bay Wealth Management LLC's investment portfolio, making the stock its 12th biggest holding. Granite Bay Wealth Management LLC's holdings in Apple were worth $10,267,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Lifetime Wealth Management P.C. purchased a new position in shares of Apple during the fourth quarter valued at $41,000. ROSS JOHNSON & Associates LLC lifted its stake in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after acquiring an additional 180 shares in the last quarter. Timmons Wealth Management LLC purchased a new stake in Apple in the 4th quarter worth about $69,000. LSV Asset Management acquired a new stake in Apple during the 4th quarter worth about $65,000. Finally, Inspire Investing LLC purchased a new position in Apple during the 4th quarter valued at about $76,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other news, insider Ben Borders sold 1,274 shares of the firm's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the transaction, the insider owned 38,713 shares in the company, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.06% of the company's stock.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Ford said it will embed Apple Maps into upcoming EVs, expanding Apple’s software reach and reinforcing the value of its ecosystem. Ford Embeds Apple Maps Directly into Upcoming EVs
• Positive Sentiment: Baird raised its price target on Apple and reiterated an Outperform rating, adding to bullish analyst momentum. Finviz
• Positive Sentiment: Commentary highlighted Apple as outperforming the broader market, supported by strong ratings and a favorable chart setup ahead of earnings. Why is Apple stock outperforming the broader market?
• Neutral Sentiment: Apple was also the subject of discussion around upcoming product launches, AI features, and a possible device-leasing program, which could support demand but remain unconfirmed or longer-term in nature.
• Negative Sentiment: Some reports noted concerns that Apple’s valuation is stretched heading into earnings, and insider sales plus short-interest chatter may temper enthusiasm if results disappoint.

Apple Trading Up 3.5%

Shares of NASDAQ AAPL opened at $333.02 on Friday. The stock has a market cap of $4.89 trillion, a price-to-earnings ratio of 40.27, a PEG ratio of 2.78 and a beta of 1.10. The business has a 50 day simple moving average of $306.62 and a 200 day simple moving average of $279.01. Apple Inc. has a 52 week low of $201.50 and a 52 week high of $334.99. 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 (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 the consensus estimate of $1.95 by $0.06. The firm had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company's revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.65 earnings per share. On average, research analysts predict that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Apple Increases Dividend

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

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of research reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Apple in a report on Wednesday, July 15th. Rosenblatt Securities restated a "neutral" rating and set a $276.00 price target on shares of Apple in a report on Tuesday, June 9th. HSBC upgraded shares of Apple from a "hold" rating to a "buy" rating and upped their price objective for the company from $260.00 to $366.00 in a research note on Thursday, July 16th. Evercore reiterated an "outperform" rating on shares of Apple in a research report on Wednesday, July 8th. Finally, Bank of America reissued a "buy" rating and set a $380.00 target price on shares of Apple in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average target price of $327.40.

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.

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