S Harris Financial Group LLC Buys Shares of 4,469 Apple Inc. $AAPL

Key Points

• S Harris Financial Group LLC initiated a new position in Apple during the fourth quarter, buying 4,469 shares worth about $1.215 million. Apple now makes up roughly 1.2% of the firm’s holdings.
• Several other institutional investors also modestly increased their Apple stakes, and institutions overall own 67.73% of the company’s shares, underscoring continued broad ownership support.
• Apple’s latest business updates remain constructive: it recently beat quarterly earnings and revenue estimates, raised its dividend, and analysts largely maintain buy/overweight views with a consensus target price around $314.59.

S Harris Financial Group LLC purchased a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 4,469 shares of the iPhone maker's stock, valued at approximately $1,215,000. Apple accounts for approximately 1.2% of S Harris Financial Group LLC's holdings, making the stock its 17th largest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Reyes Financial Architecture Inc. raised its position in Apple by 0.4% in the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker's stock valued at $2,520,000 after purchasing an additional 37 shares during the period. WESPAC Advisors LLC lifted its stake in shares of Apple by 0.3% in the 4th quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker's stock valued at $3,351,000 after purchasing an additional 39 shares during the last quarter. Interactive Financial Advisors Inc. grew its holdings in shares of Apple by 4.0% during the 4th quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker's stock worth $286,000 after purchasing an additional 40 shares during the period. Orion Investment Co grew its holdings in shares of Apple by 0.3% during the 4th quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker's stock worth $3,902,000 after purchasing an additional 41 shares during the period. Finally, Seven Springs Wealth Group LLC increased its position in shares of Apple by 0.3% during the 3rd quarter. Seven Springs Wealth Group LLC now owns 15,451 shares of the iPhone maker's stock worth $3,934,000 after purchasing an additional 42 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s planned price increases could protect margins as memory and storage costs rise, and Bank of America reiterated a Buy rating with a $380 target, citing Apple’s pricing power and supply-chain strength. Article Title
• Positive Sentiment: Reports of upcoming AI-focused devices and a second-generation iPhone Air support confidence in Apple’s product pipeline and longer-term growth story. Article Title
• Neutral Sentiment: Apple’s planned price hikes may help earnings, but they could also pressure demand if consumers balk at higher handset prices. Article Title
• Neutral Sentiment: Apple opening Brazil’s App Store to alternative marketplaces reduces regulatory friction there, but it also underscores ongoing global platform scrutiny. Article Title

Apple Stock Performance

NASDAQ AAPL opened at $298.01 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The company has a market cap of $4.38 trillion, a P/E ratio of 36.04, a P/E/G ratio of 2.59 and a beta of 1.09. The stock has a 50-day moving average of $289.73 and a two-hundred day moving average of $272.91. Apple Inc. has a 1-year low of $196.85 and a 1-year high of $317.40.

Apple (NASDAQ:AAPL - Get Free Report) last issued 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. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business had revenue of $111.18 billion for the quarter, compared to analysts' expectations of $109.46 billion. During the same quarter in the prior year, the company earned $1.65 earnings per share. The business's quarterly revenue was up 16.6% on a year-over-year basis. As a group, analysts anticipate that Apple Inc. will post 8.75 EPS for the current year.

Apple Increases Dividend

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

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O'brien sold 30,002 shares of the firm's stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total value of $7,661,010.70. Following the completion of the transaction, the senior vice president owned 136,810 shares of the company's stock, valued at $34,934,433.50. This trade represents a 17.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 116 shares of the business's 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 transaction, the insider owned 38,713 shares of the company's stock, valued at approximately $11,425,754.82. This trade represents a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 97,875 shares of company stock valued at $24,998,541 in the last quarter. Corporate insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AAPL shares. Evercore restated an "outperform" rating on shares of Apple in a report on Monday, June 8th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $310.00 target price (up from $300.00) on shares of Apple in a research note on Friday, May 1st. KeyCorp reiterated a "sector weight" rating on shares of Apple in a research report on Tuesday, June 9th. The Goldman Sachs Group restated a "buy" rating on shares of Apple in a report on Monday, March 2nd. Finally, Citigroup reaffirmed a "buy" rating on shares of Apple in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and a consensus target price of $314.59.

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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