Nations Financial Group Inc. IA ADV Has $43.53 Million Position in Apple Inc. $AAPL

Key Points

• Nations Financial Group increased its Apple stake by 5.8% in Q1, adding 9,475 shares and bringing its total holding to 171,512 shares valued at about $43.5 million. Apple is now the firm’s third-largest position and makes up about 2.2% of its portfolio.
• Apple reported strong quarterly results, with EPS of $2.01 and revenue of $111.18 billion, both ahead of Wall Street expectations. Revenue rose 16.6% year over year, and analysts currently rate the stock a Moderate Buy with an average target price of $314.85.
• Despite a recent 0.7% decline in trading, Apple continues to attract heavy institutional interest, with institutions owning 67.73% of the company. The stock also recently raised its quarterly dividend to $0.27 per share, up from $0.26.

Nations Financial Group Inc. IA ADV boosted its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 171,512 shares of the iPhone maker's stock after buying an additional 9,475 shares during the quarter. Apple accounts for about 2.2% of Nations Financial Group Inc. IA ADV's investment portfolio, making the stock its 3rd largest position. Nations Financial Group Inc. IA ADV's holdings in Apple were worth $43,528,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Apple during the fourth quarter worth $52,266,468,000. Nuveen LLC acquired a new position in shares of Apple in the 1st quarter valued at $17,472,482,000. Cardano Risk Management B.V. boosted its position in shares of Apple by 890.7% in the 4th quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker's stock valued at $11,413,990,000 after purchasing an additional 37,746,784 shares during the period. Laurel Wealth Advisors LLC increased its stake in Apple by 20,464.8% in the 2nd 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. Finally, Vanguard Group Inc. increased its stake in Apple by 1.9% in the 4th 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. Institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on AAPL shares. BNP Paribas Exane raised shares of Apple from a "neutral" rating to an "outperform" rating and set a $300.00 price objective for the company in a research note on Friday, April 17th. Bank of America reissued a "buy" rating and issued a $380.00 target price on shares of Apple in a research report on Thursday, June 18th. Needham & Company LLC restated a "hold" rating on shares of Apple in a report on Tuesday, June 9th. Monness Crespi & Hardt upped their price target on shares of Apple from $315.00 to $335.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of Apple in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and an average target price of $314.85.

Apple Trading Down 0.7%

Shares of NASDAQ AAPL opened at $294.98 on Wednesday. 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 one year low of $199.26 and a one year high of $317.40. The business has a 50-day moving average price of $291.15 and a two-hundred day moving average price of $273.06. The firm has a market capitalization of $4.33 trillion, a PE ratio of 35.67, a PEG ratio of 2.58 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $0.06. The company had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm's quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.65 EPS. As a group, analysts predict that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, May 11th. This is a positive change from Apple's previous quarterly dividend of $0.26. Apple's payout ratio is currently 13.06%.

Insider Activity at Apple

In related news, insider Ben Borders sold 116 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the sale, the insider directly owned 38,713 shares in the company, valued at approximately $11,425,754.82. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Timothy D. Cook sold 64,949 shares of Apple stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total value of $16,511,984.27. Following the sale, the chief executive officer directly owned 3,280,418 shares of the company's stock, valued at approximately $833,980,668.14. The trade was a 1.94% decrease in their position. 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 90 days, insiders sold 97,875 shares of company stock worth $24,998,541. 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: Wall Street is becoming more optimistic about Apple’s new Siri and AI strategy after the post-WWDC selloff, suggesting investors may be overreacting to near-term skepticism. After an Initial Panic, Wall Street's Leaning Into Apple's New Siri AI
• Positive Sentiment: Reports that Apple has agreed to partner with Intel to design and manufacture chips in the U.S. are being viewed as a supply-chain diversification win and a long-term catalyst for Apple’s hardware roadmap. Apple’s Intel Deal Arrives at the Right Time for Its Stock
• Positive Sentiment: Tim Cook’s comments about higher memory costs and upcoming price increases are being interpreted by some analysts as supportive of Apple’s earnings power, since price hikes could help offset component inflation. Apple: Empirical Evidence Suggests Upcoming Price Hikes Will Boost Earnings
• Neutral Sentiment: Apple’s TV and streaming strategy is drawing attention, but the discussion appears more explanatory than immediately material to the stock. Apple Explains TV Library Strategy
• Neutral Sentiment: A Zacks comparison of NVIDIA and Apple highlights Apple’s lower valuation and services strength, reinforcing the stock’s defensive appeal without changing the near-term setup. NVIDIA vs. Apple: Which Tech Titan Is the Better Buy Right Now?
• Negative Sentiment: Britain’s competition tribunal approved a £3 billion class action over iCloud fees, adding a meaningful legal overhang and potential financial liability for Apple. UK tribunal gives go ahead for $4 billion lawsuit against Apple over iCloud services
• Negative Sentiment: Apple also faces reputational risk after closing its first unionized U.S. store, with the union accusing the company of retaliation. Apple Just Closed Its First Unionized U.S. Store
• Negative Sentiment: Several reports say Apple is forcing price increases on hardware because memory and chip costs are rising, which could pressure demand if consumers push back. Memory's price surge threatens Apple's 'magic formula' — and the economy

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.