Hegarty Advisors LLC Takes Position in Apple Inc. $AAPL

Key Points

• Hegarty Advisors LLC opened a new Apple position in Q1, buying 6,553 shares worth about $1.66 million; Apple now makes up 1.3% of the firm’s portfolio.
• Apple reported better-than-expected earnings for the quarter, with EPS of $2.01 versus $1.95 expected and revenue of $111.18 billion, up 16.6% year over year.
• Despite positive analyst sentiment and a higher dividend, Apple still faces legal overhang after losing a bid to overturn a $634 million Apple Watch patent verdict.

Hegarty Advisors LLC acquired a new position in Apple Inc. (NASDAQ:AAPL - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,553 shares of the iPhone maker's stock, valued at approximately $1,663,000. Apple accounts for 1.3% of Hegarty Advisors LLC's investment portfolio, making the stock its 25th largest position.

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

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Ford will integrate Apple Maps and Apple software into upcoming lower-cost EVs and self-driving features, expanding Apple’s automotive footprint and creating another potential platform for its services ecosystem. Ford Will Use Apple Software in New Self-Driving System
• Positive Sentiment: Reports that Apple is preparing a smarter shopping assistant for the App Store and testing a more AI-driven buying experience suggest new ways to improve commerce, engagement, and monetization across its ecosystem. Apple Tests Smarter Shopping Experience
• Positive Sentiment: Wall Street sentiment remains constructive in places, with Morgan Stanley reportedly raising its Apple target and several pieces arguing Apple could be an underappreciated AI beneficiary as it readies new Macs, iMacs, and other hardware built for AI demand. Apple Plans To Overhaul Computers to Meet AI Demand
• Neutral Sentiment: Samsung’s new foldables and the broader “AI hardware” race are keeping Apple in the spotlight, but the news is mostly competitive context rather than a direct near-term catalyst.
• Negative Sentiment: Apple lost a key court bid, leaving a $634 million Apple Watch blood-oxygen patent verdict in place, which keeps legal overhangs alive and could raise investor concern about additional costs or product restrictions. Apple Fails to Overturn $634 Million Masimo Verdict
• Negative Sentiment: Multiple market notes point to Apple’s valuation being rich and the stock being vulnerable to volatility into earnings, with some analysts warning that momentum may be peaking after a strong run.

Apple Stock Down 1.3%

Apple stock opened at $321.66 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. Apple Inc. has a 1-year low of $201.50 and a 1-year high of $334.99. The firm's fifty day simple moving average is $305.96 and its 200-day simple moving average is $278.63. The company has a market capitalization of $4.72 trillion, a P/E ratio of 38.89, a P/E/G ratio of 2.81 and a beta of 1.10.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. During the same period in the prior year, the business posted $1.65 earnings per share. The business's quarterly revenue was up 16.6% on a year-over-year basis. Sell-side analysts forecast that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Apple Increases Dividend

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

Insider Buying and Selling at Apple

In related news, insider Ben Borders sold 1,274 shares of the business's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the sale, the insider directly owned 38,713 shares in the company, valued at approximately $11,226,770. The trade was a 3.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on AAPL shares. BNP Paribas Exane upgraded shares of Apple from a "neutral" rating to an "outperform" rating and set a $300.00 price objective on the stock in a research note on Friday, April 17th. Citigroup restated a "buy" rating and set a $365.00 price target (up from $315.00) on shares of Apple in a report on Monday, July 13th. Maxim Group reaffirmed a "buy" rating and issued a $350.00 price target (up from $310.00) on shares of Apple in a research note on Tuesday, June 9th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Apple in a report on Monday, June 8th. Finally, Morgan Stanley set a $364.00 price objective on Apple and gave the company an "overweight" rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and a consensus price target of $326.83.

About Apple

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.