Shelter Rock Management LLC Invests $2.08 Million in Apple Inc. $AAPL

Key Points

• Shelter Rock Management LLC disclosed a new fourth-quarter stake in Apple, buying 7,648 shares valued at about $2.08 million. Apple now makes up roughly 2.1% of the firm’s holdings and is its 17th-largest position.
• Several other institutional investors also increased or initiated positions in Apple, and hedge funds and other institutions own 67.73% of the stock. This suggests continued broad interest from large investors.
• Apple recently beat quarterly earnings and revenue expectations, reporting $2.01 EPS on $111.18 billion in revenue, while analysts remain generally constructive with a Moderate Buy consensus and a target price of $312.82.

Shelter Rock Management LLC bought a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,648 shares of the iPhone maker's stock, valued at approximately $2,079,000. Apple comprises approximately 2.1% of Shelter Rock Management LLC's holdings, making the stock its 17th largest holding.

Several other large investors have also modified their holdings of AAPL. Pathfinder Wealth Consulting Inc. purchased a new position in Apple in the 4th quarter valued at $6,281,000. Carroll Advisory Group LLC purchased a new position in Apple during the 4th quarter worth $1,395,000. Buckhead Capital Management LLC raised its position in Apple by 0.3% during the 4th quarter. Buckhead Capital Management LLC now owns 51,874 shares of the iPhone maker's stock worth $14,102,000 after buying an additional 141 shares during the last quarter. Banta Asset Management LP acquired a new stake in shares of Apple in the 4th quarter worth $6,269,000. Finally, Parkshore Wealth Management Inc. boosted its holdings in shares of Apple by 0.3% in the fourth quarter. Parkshore Wealth Management Inc. now owns 38,437 shares of the iPhone maker's stock valued at $10,449,000 after acquiring an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Barclays reissued an "underweight" rating and set a $253.00 price target (up from $248.00) on shares of Apple in a report on Friday, May 1st. Wedbush reiterated an "outperform" rating and set a $400.00 target price on shares of Apple in a research report on Friday. Needham & Company LLC reissued a "hold" rating on shares of Apple in a report on Friday, May 1st. Jefferies Financial Group set a $330.00 price target on Apple in a research note on Wednesday, March 4th. Finally, Citigroup reaffirmed a "buy" rating on shares of Apple in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $312.82.

Apple Stock Performance

NASDAQ AAPL opened at $307.34 on Friday. The business has a 50 day moving average price of $281.39 and a 200 day moving average price of $271.37. The company has a market capitalization of $4.51 trillion, a P/E ratio of 37.16, a PEG ratio of 2.68 and a beta of 1.09. Apple Inc. has a 1-year low of $195.07 and a 1-year high of $316.94. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly 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 business had revenue of $111.18 billion during the quarter, compared to analysts' expectations of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business's revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the business posted $1.65 earnings per share. Sell-side analysts expect that Apple Inc. will post 8.74 EPS for the current fiscal 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 given a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This is an increase from Apple's previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. Apple's dividend payout ratio (DPR) is presently 13.06%.

Insider Buying and Selling at Apple

In other news, insider Ben Borders sold 1,274 shares of the business's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the transaction, the insider directly owned 38,713 shares of the company's stock, valued at $11,226,770. The trade was a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Deirdre O'brien sold 30,002 shares of the stock in a transaction 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 sale, the senior vice president directly owned 136,810 shares in the company, valued at approximately $34,934,433.50. The trade was a 17.99% 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. In the last three months, insiders have sold 97,759 shares of company stock worth $24,964,305. 0.06% of the stock is currently owned by insiders.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s WWDC keynote is expected to highlight a revamped Siri, Apple Intelligence updates, and a broader AI strategy, which could act as a near-term catalyst if the company shows meaningful progress. Will WWDC Drive Apple Stock (AAPL) Higher? Here’s What Analysts Expect
• Positive Sentiment: Analysts remain constructive, with Citi reiterating a Buy and Wedbush reaffirming Outperform with a $400 target, citing Apple’s AI inflection point and resilient iPhone fundamentals. Asiya Merchant Reiterates Buy on Apple, Citing AI Strategy Inflection and Resilient iPhone Fundamentals
• Positive Sentiment: Apple’s App Store update showed $1.4 trillion in sales and billings last year, reinforcing the scale of its Services ecosystem even as most transactions did not carry a commission. Apple touts $1.4 trillion in App Store billings and sales, 90% without a commission
• Positive Sentiment: Foxconn raised its second-quarter outlook, a constructive signal for Apple’s supply chain and iPhone demand, since Foxconn is Apple’s top iPhone assembler. Taiwan's Foxconn raises guidance for second-quarter outlook
• Neutral Sentiment: Reports that Apple may rely on Google cloud infrastructure and Nvidia chips to power a redesigned Siri suggest the company is prioritizing speed to market, but they also underscore that Apple is leaning on outside partners for its AI push. Apple Taps Google to Prep Siri For September Revamp
• Negative Sentiment: Some coverage warns that Apple still faces a high bar to justify its valuation, and UBS noted decelerating App Store growth could pressure the Services growth story if AI execution disappoints. Investors Should Worry About Apple’s (AAPL) Decelerating App Store Growth, Says UBS

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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