PeakShares LLC Acquires 1,713 Shares of Apple Inc. $AAPL

Key Points

• PeakShares LLC increased its Apple stake by 41.1% in the first quarter, purchasing 1,713 additional shares for a total of 5,885 shares valued at approximately $1.49 million. Institutional investors and hedge funds own 67.73% of Apple.
• Apple reported quarterly revenue of $109.42 billion, up 16.4% year over year, and earnings of $2.02 per share, exceeding analyst expectations of $1.89.
• Apple declared a quarterly dividend of $0.27 per share, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $331.60.

PeakShares LLC increased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 41.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,885 shares of the iPhone maker's stock after buying an additional 1,713 shares during the quarter. Apple accounts for about 1.4% of PeakShares LLC's holdings, making the stock its 21st biggest holding. PeakShares LLC's holdings in Apple were worth $1,494,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Prospect Financial Group LLC lifted its stake in Apple by 0.9% in the 1st quarter. Prospect Financial Group LLC now owns 9,498 shares of the iPhone maker's stock valued at $2,410,000 after purchasing an additional 86 shares during the last quarter. Gould Asset Management LLC CA grew its stake in shares of Apple by 1.0% during the first quarter. Gould Asset Management LLC CA now owns 40,519 shares of the iPhone maker's stock worth $10,283,000 after buying an additional 405 shares during the last quarter. Angeles Wealth Management LLC increased its holdings in shares of Apple by 8.7% during the first quarter. Angeles Wealth Management LLC now owns 182,360 shares of the iPhone maker's stock worth $46,281,000 after buying an additional 14,521 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. increased its holdings in shares of Apple by 79.7% during the first quarter. Financiere des Professionnels Fonds d investissement inc. now owns 415,028 shares of the iPhone maker's stock worth $105,330,000 after buying an additional 184,066 shares in the last quarter. Finally, Jag Capital Management LLC lifted its stake in shares of Apple by 4.4% in the 1st quarter. Jag Capital Management LLC now owns 281,717 shares of the iPhone maker's stock valued at $71,497,000 after acquiring an additional 11,885 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Trading Down 7.4%

Shares of AAPL stock opened at $308.91 on Friday. Apple Inc. has a 1-year low of $201.50 and a 1-year high of $344.57. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The stock has a market cap of $4.54 trillion, a price-to-earnings ratio of 35.43, a PEG ratio of 2.67 and a beta of 1.10. The stock has a 50-day moving average of $309.51 and a 200-day moving average of $281.45.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.13. Apple had a return on equity of 142.29% and a net margin of 27.62%.The company had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. During the same period in the previous year, the firm earned $1.57 earnings per share. The firm's quarterly revenue was up 16.4% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 8.8 earnings per share for the current year.

Apple Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AAPL. Maxim Group restated a "buy" rating and set a $350.00 price objective (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. Evercore reiterated an "outperform" rating on shares of Apple in a research report on Wednesday, July 8th. Morgan Stanley cut their price target on Apple from $364.00 to $360.00 and set an "overweight" rating on the stock in a research note on Friday. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research note on Friday. Finally, KeyCorp reiterated an "underweight" rating and issued a $250.00 price objective on shares of Apple in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $331.60.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple reported record June-quarter revenue of $109.4 billion, up 16.4% year over year, and diluted EPS of $2.02, exceeding Wall Street expectations. iPhone revenue rose 22% to $54.3 billion, while Mac revenue increased 29% to $10.4 billion. Apple reports third quarter results
• Positive Sentiment: Apple’s large installed base, strong hardware demand and potential consumer-AI opportunities remain long-term supports. Some analysts remain bullish: TD Cowen raised its price target to $400, while other firms maintained Buy or Overweight ratings despite trimming estimates. Analyst raises Apple price target
• Positive Sentiment: The company declared a quarterly dividend of $0.27 per share, payable August 13 to shareholders of record August 10. Apple also continues to emphasize an AI strategy that requires less capital spending than the infrastructure-heavy approach used by some peers. Apple Q3 financial results

Insider Activity at Apple

In other news, insider Ben Borders sold 116 shares of the company'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 sale, the insider directly owned 38,713 shares of the company's stock, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.06% of the company's stock.

Apple Company 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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