Investment Advisory Services Group LLC Has $2.65 Million Stake in Apple Inc. $AAPL

Key Points

• Investment Advisory Services Group LLC increased its Apple stake by 24.2% in the first quarter, buying 2,041 more shares and bringing its holdings to 10,458 shares worth about $2.65 million.
• Apple reported a strong latest quarter, with $2.01 EPS and $111.18 billion in revenue, both above analyst estimates. Revenue also rose 16.6% year over year, and the company increased its quarterly dividend to $0.27 per share.
• Recent sentiment around Apple has been upbeat, with HSBC upgrading the stock to Buy and raising its price target to $366. Analysts overall rate Apple a Moderate Buy with a consensus target of $318.43, while the stock was trading near its 52-week high.

Investment Advisory Services Group LLC raised its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 24.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,458 shares of the iPhone maker's stock after acquiring an additional 2,041 shares during the quarter. Apple makes up approximately 2.3% of Investment Advisory Services Group LLC's investment portfolio, making the stock its 12th largest position. Investment Advisory Services Group LLC's holdings in Apple were worth $2,654,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Lifetime Wealth Management P.C. acquired a new stake in Apple in the fourth quarter valued at approximately $41,000. ROSS JOHNSON & Associates LLC grew its stake in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after buying an additional 180 shares during the last quarter. LSV Asset Management acquired a new position in shares of Apple during the fourth quarter worth $65,000. Timmons Wealth Management LLC acquired a new position in shares of Apple during the fourth quarter worth $69,000. Finally, Inspire Investing LLC acquired a new position in shares of Apple during the fourth quarter worth $76,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: HSBC upgraded Apple Inc. NASDAQ: AAPL to Buy and raised its price target to $366 from $260, saying the company is at an operational turning point with AI features and hardware momentum supporting growth. HSBC upgrades Apple to Buy, sees "strong cycle ahead"
• Positive Sentiment: China approved Apple Intelligence for iPhones, and Apple will integrate Alibaba’s Qwen AI model in its China rollout, a key step that could expand Apple’s AI adoption in one of its most important markets. Alibaba and Baidu shares jump in Hong Kong on Apple AI partnership
• Positive Sentiment: Multiple reports say Apple briefly overtook Nvidia in market value, reinforcing the view that investors are rotating toward Apple’s consumer execution and away from some AI-heavy names. Apple closes in on Nvidia in race for world's most valuable company
• Positive Sentiment: Several commentaries highlighted Apple’s cash generation, shareholder returns, and robotics/innovation efforts, supporting the bullish “cash flow machine” and diversification narrative. Apple’s Core Business Cash Flow Machine Will Support Innovation and Diversification

Analyst Ratings Changes

AAPL has been the topic of several recent research reports. UBS Group set a $250.00 price objective on Apple in a report on Tuesday. Wedbush reaffirmed an "outperform" rating and issued a $400.00 target price on shares of Apple in a report on Friday, June 5th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Apple in a research report on Monday, June 8th. Evercore reiterated an "outperform" rating on shares of Apple in a research report on Wednesday, July 8th. Finally, Oppenheimer reissued a "market perform" rating on shares of Apple in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $318.43.

Apple Stock Performance

NASDAQ AAPL opened at $333.74 on Friday. The company has a market capitalization of $4.90 trillion, a price-to-earnings ratio of 40.36, a PEG ratio of 2.90 and a beta of 1.10. Apple Inc. has a twelve month low of $201.50 and a twelve month high of $334.99. The stock has a fifty day simple moving average of $303.61 and a 200 day simple moving average of $277.09. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.06. The firm had revenue of $111.18 billion during 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 was up 16.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.65 EPS. Sell-side analysts expect that Apple Inc. will post 8.76 EPS for the current year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a $0.27 dividend. 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 dividend payout ratio (DPR) is presently 13.06%.

Insider Activity

In other Apple news, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the sale, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ben Borders sold 116 shares of Apple stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares of the company's stock, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 2,924 shares of company stock worth $825,546. 0.06% of the stock is owned by corporate insiders.

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.

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