Keebeck Wealth Management Acquires 7,391 Shares of Apple Inc. $AAPL

Key Points

• Keebeck Wealth Management increased its Apple stake by 9.6% in the first quarter, purchasing 7,391 additional shares for a total of 84,275 shares valued at approximately $21.4 million. Apple now represents about 2.4% of the firm’s portfolio.
• Apple exceeded quarterly expectations, reporting $2.02 in earnings per share and $109.42 billion in revenue, with revenue up 16.4% year over year. Analysts maintain a “Moderate Buy” consensus rating and an average price target of $330.44.
• Despite strong operating momentum and a planned orderly CEO transition, investors face risks from rising costs, supply constraints, slower Services growth and increasing competition in emerging hardware markets. Apple also declared a quarterly dividend of $0.27 per share.

Keebeck Wealth Management increased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,275 shares of the iPhone maker's stock after purchasing an additional 7,391 shares during the quarter. Apple makes up approximately 2.4% of Keebeck Wealth Management's portfolio, making the stock its 5th biggest position. Keebeck Wealth Management's holdings in Apple were worth $21,388,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Lifetime Wealth Management P.C. acquired a new position in Apple in the fourth quarter valued at $41,000. ROSS JOHNSON & Associates LLC increased its position 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 purchasing an additional 180 shares in the last quarter. Timmons Wealth Management LLC purchased a new stake 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 4th quarter valued at about $65,000. Finally, Inspire Investing LLC purchased a new stake in shares of Apple in the 4th quarter valued at about $76,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Apple news, insider Ben Borders sold 116 shares of the business's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the transaction, the insider directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. KeyCorp restated an "underweight" rating and set a $250.00 price target on shares of Apple in a research note on Tuesday, July 28th. Monness Crespi & Hardt boosted their price objective on Apple from $315.00 to $335.00 and gave the company a "buy" rating in a research note on Friday, May 1st. TD Cowen increased their price objective on Apple from $350.00 to $400.00 and gave the company a "buy" rating in a report on Friday, July 31st. Phillip Securities lowered shares of Apple from a "hold" rating to a "moderate sell" rating in a research report on Monday, August 3rd. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $350.00 target price (up from $310.00) on shares of Apple in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $330.44.

Apple Price Performance

AAPL opened at $313.33 on Monday. The business has a 50 day moving average price of $309.45 and a two-hundred day moving average price of $283.42. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The company has a market cap of $4.57 trillion, a PE ratio of 35.93, a P/E/G ratio of 2.68 and a beta of 1.09. Apple Inc. has a 52 week low of $219.25 and a 52 week high of $344.57.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.13. The company had revenue of $109.42 billion during the quarter, compared to analysts' expectations of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.The firm's revenue for the quarter was up 16.4% on a year-over-year basis. During the same period last year, the firm earned $1.57 EPS. As a group, research analysts anticipate that Apple Inc. will post 8.76 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, August 10th. Apple's dividend payout ratio (DPR) is 12.39%.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Planned CEO transition appears orderly. Tim Cook will step down in September and be succeeded by longtime Apple executive John Ternus, a veteran with experience dating back to the Steve Jobs era. Cook’s endorsement and Ternus’ familiarity with Apple’s products may reduce concerns about strategic disruption. Tim Cook Says There’s ‘No Better Person’ to Take Over at Apple
• Positive Sentiment: Core business momentum remains strong. Apple’s latest quarter exceeded earnings and revenue expectations, with revenue up roughly 16% year over year. Broad iPhone, Mac and Services demand continues to support the bullish case. Tim Cook's Last Quarter as CEO Was Apple's Best June Quarter Ever
• Positive Sentiment: App Store monetization is holding up. App Store revenue increased slightly despite a 4% decline in iPhone and iPad downloads, as revenue per download rose 4.7%. This suggests continued pricing and engagement resilience in a key Services business. Apple App Store Revenue Ticks Up Despite Falling Downloads
• Neutral Sentiment: OpenAI is seeking dismissal of Apple’s trade-secrets lawsuit. OpenAI denies misappropriating confidential information related to Apple’s consumer-hardware efforts. The filing does not resolve the dispute, leaving legal and competitive uncertainty in place. OpenAI Seeks Dismissal of Apple's Trade Secrets Lawsuit
• Negative Sentiment: Near-term cost and growth pressures are weighing on sentiment. Rising memory prices, supply constraints and policy risks could pressure margins, while slower Services growth has prompted some firms to downgrade Apple to Hold or Moderate Sell. Apple's Capex Strategy Worked But Other Pressures Are Mounting
• Negative Sentiment: Competition in emerging hardware is increasing. Samsung reported a 30% rise in foldable-device preorders, highlighting a market Apple has yet to enter. Investors may view future Apple foldables as an opportunity, but execution and timing remain uncertain. Samsung Foldable Preorders Jump 30%

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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