Syntegra Private Wealth Group LLC Sells 2,711 Shares of Apple Inc. $AAPL

Key Points

• Syntegra Private Wealth Group LLC cut its Apple stake by 4.9% in the first quarter, selling 2,711 shares and leaving it with 52,328 shares worth about $13.28 million.
• Wall Street sentiment on Apple remains mixed but generally positive, with a Moderate Buy consensus and an average price target of $314.26, though some analysts have recently downgraded the stock over valuation and growth concerns.
• Apple has seen several supportive developments, including China approval of Apple Intelligence, possible AI chip acquisitions, and a higher quarterly dividend, while the stock has also been trading near record highs after strong earnings and revenue growth.

Syntegra Private Wealth Group LLC trimmed its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52,328 shares of the iPhone maker's stock after selling 2,711 shares during the period. Apple comprises 1.3% of Syntegra Private Wealth Group LLC's portfolio, making the stock its 14th biggest holding. Syntegra Private Wealth Group LLC's holdings in Apple were worth $13,280,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AAPL. Reyes Financial Architecture Inc. lifted its position in shares of Apple by 0.4% during the 3rd quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker's stock valued at $2,520,000 after buying an additional 37 shares in the last quarter. WESPAC Advisors LLC boosted its position in shares of Apple by 0.3% during the fourth quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker's stock worth $3,351,000 after acquiring an additional 39 shares during the last quarter. Interactive Financial Advisors Inc. boosted 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 valued at $286,000 after purchasing an additional 40 shares during the last quarter. Sugar Maple Asset Management LLC grew its holdings in Apple by 2.0% during the 1st quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker's stock valued at $515,000 after buying an additional 40 shares in the last quarter. Finally, Orion Investment Co grew its holdings in shares of Apple by 0.3% in the fourth quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker's stock valued at $3,902,000 after purchasing an additional 41 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AAPL shares. KeyCorp lowered Apple from a "sector weight" rating to an "underweight" rating and set a $250.00 price target for the company. in a research report on Tuesday. DA Davidson restated a "neutral" rating and issued a $270.00 price target on shares of Apple in a report on Friday, May 1st. Sanford C. Bernstein reissued an "outperform" rating on shares of Apple in a research note on Monday, June 8th. Oppenheimer reissued a "market perform" rating on shares of Apple in a research report on Tuesday, June 9th. Finally, BNP Paribas Exane upgraded Apple from a "neutral" rating to an "outperform" rating and set a $300.00 price target on the stock in a report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and an average price target of $314.26.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: China approved Apple Intelligence for iPhones, a key regulatory green light that clears the way for Apple’s AI rollout in one of its most important markets and could help support upgrades and Services growth. Reuters: Apple Intelligence AI service registered with China's cyberspace regulator
• Positive Sentiment: Reports that Apple is exploring acquisitions of AI chip startups to strengthen its server and AI hardware capabilities reinforced the idea that the company is actively investing to remain competitive in AI without a huge data-center spending spree. Reuters: Apple chasing AI chip company deals, The Information reports
• Positive Sentiment: News that Apple may spend about $30 billion through its Broadcom partnership adds confidence in supply-chain security and custom silicon development, which investors see as supportive for future product cycles and margins. Yahoo Finance/Reuters: Apple Plans to Spend $30 Billion in a Deal With Broadcom (AVGO)
• Positive Sentiment: Apple also won dismissal of a high-stakes iCloud-related lawsuit, removing an overhang and improving sentiment around legal risk. Yahoo Finance: Apple Wins Dismissal of iCloud Lawsuit
• Neutral Sentiment: Several media and analyst pieces noted Apple’s stock hitting record highs and trading near a new 52-week high, reflecting strong momentum after a sharp run-up rather than a fresh fundamental surprise. Investopedia: Apple Could Buy an AI Chip Company. Its Hot Stock Just Set a Fresh Record High
• Negative Sentiment: KeyBanc downgraded Apple to Underweight, warning that slowing hardware demand, softer Services growth, and valuation concerns could limit further upside. Yahoo Finance: KeyBanc Downgrades Apple on Growth Concerns

Insider Activity at Apple

In related news, CFO Kevan Parekh sold 1,534 shares of the company's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the transaction, the chief financial officer owned 13,366 shares of the company's stock, valued at approximately $3,675,650. This represents a 10.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ben Borders sold 1,274 shares of the company's stock in a transaction that occurred 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 transaction, the insider directly owned 38,713 shares of the company's stock, valued at approximately $11,226,770. The trade was a 3.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 2,924 shares of company stock valued at $825,546. Insiders own 0.06% of the company's stock.

Apple Stock Up 4.0%

Shares of AAPL stock opened at $327.50 on Thursday. Apple Inc. has a fifty-two week low of $201.50 and a fifty-two week high of $328.73. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The firm has a market capitalization of $4.81 trillion, a PE ratio of 39.60, a P/E/G ratio of 2.74 and a beta of 1.10. The stock's 50-day simple moving average is $301.89 and its 200-day simple moving average is $276.27.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data 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 net margin of 27.15% and a return on equity of 146.69%. The business had revenue of $111.18 billion during the quarter, compared to analysts' expectations of $109.46 billion. During the same period in the previous year, the business posted $1.65 EPS. The business's quarterly revenue was up 16.6% compared to the same quarter last year. Equities analysts expect that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a dividend of $0.27 per share. This is an increase from Apple's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, May 11th. Apple's dividend payout ratio (DPR) is 13.06%.

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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