Solidarity Wealth LLC Acquires 1,788 Shares of Apple Inc. $AAPL

Key Points

• Solidarity Wealth LLC increased its Apple stake by 0.9% in the fourth quarter, adding 1,788 shares to bring its total to 199,720 shares worth about $54.3 million. Apple is now the firm’s largest holding, representing 11.1% of its portfolio.
• Insiders have been selling shares: CEO Tim Cook sold 64,949 shares and SVP Deirdre O’Brien sold 30,002 shares in early April. Over the past three months, insiders have sold 97,759 shares total, though the transactions were made under pre-arranged trading plans.
• Apple’s fundamentals remain strong, with the company reporting quarterly EPS of $2.01 on revenue of $111.18 billion, both ahead of estimates. Apple also raised its quarterly dividend to $0.27 per share and continues to attract mostly bullish analyst ratings.

Solidarity Wealth LLC grew its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 199,720 shares of the iPhone maker's stock after purchasing an additional 1,788 shares during the period. Apple comprises 11.1% of Solidarity Wealth LLC's portfolio, making the stock its largest holding. Solidarity Wealth LLC's holdings in Apple were worth $54,296,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AAPL. First National Bank of Hutchinson increased its holdings in Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock worth $8,845,000 after buying an additional 6,982 shares during the last quarter. Eagle Capital Management LLC increased its holdings in Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after buying an additional 272 shares during the last quarter. Brighton Jones LLC increased its holdings in Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after buying an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock worth $16,742,000 after buying an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE increased its holdings in Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock worth $12,587,000 after buying an additional 1,155 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Buying and Selling

In other news, CEO Timothy D. Cook sold 64,949 shares of the stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total value of $16,511,984.27. Following the completion of the sale, the chief executive officer directly owned 3,280,418 shares of the company's stock, valued at approximately $833,980,668.14. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Deirdre O'brien sold 30,002 shares of the 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 sale, the senior vice president directly owned 136,810 shares of the company's stock, valued at $34,934,433.50. This represents a 17.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 company insiders.

Apple Stock Performance

Shares of AAPL stock opened at $308.82 on Monday. Apple Inc. has a 12 month low of $193.46 and a 12 month high of $311.40. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The business's 50 day moving average is $269.64 and its two-hundred day moving average is $268.62. The company has a market cap of $4.54 trillion, a PE ratio of 37.34, a price-to-earnings-growth ratio of 2.69 and a beta of 1.06.

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

Apple Increases Dividend

The business also recently declared 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 represents a $1.08 annualized dividend and a yield of 0.3%. This is a boost from Apple's previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. Apple's dividend payout ratio is 13.06%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AAPL shares. TD Cowen restated a "buy" rating and issued a $335.00 price objective (up from $325.00) on shares of Apple in a report on Friday, May 1st. JPMorgan Chase & Co. increased their price objective on Apple from $315.00 to $325.00 and gave the stock an "overweight" rating in a report on Friday, January 30th. Oppenheimer restated a "market perform" rating on shares of Apple in a report on Friday, January 30th. Monness Crespi & Hardt increased their price objective on Apple from $315.00 to $335.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Finally, Robert W. Baird set a $310.00 price objective on Apple in a report on Friday, May 1st. One research 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $308.74.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple continues to be viewed as one of the best long-term large-cap tech names, with reports highlighting strong iPhone demand, its massive installed base, and the potential for Services to drive the next leg of earnings growth. Apple Services story
• Positive Sentiment: Analysts remain constructive: Evercore ISI reiterated an Outperform rating and raised its price target, while other commentary says Apple can keep compounding earnings and free cash flow as it expands AI features and devices. Analyst commentary
• Positive Sentiment: Apple executives saying the company is still in the “early innings” of spatial computing is reinforcing the view that new product categories could support future growth beyond the iPhone. Spatial computing article
• Neutral Sentiment: Apple’s legal fight with Epic Games remains a drag on sentiment, as the company asked the U.S. Supreme Court to review a contempt order tied to App Store fees. Epic lawsuit article
• Negative Sentiment: Some analysts are becoming more cautious on valuation after Apple’s run to new highs, warning the stock may be due for profit-taking. KeyBanc caution article

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.

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