Targeted Financial Services LLC Takes Position in Apple Inc. $AAPL

Key Points

• Targeted Financial Services LLC opened a new position in Apple, buying 8,154 shares valued at about $2.22 million. Apple now makes up 1.9% of the firm’s portfolio and is its 7th-largest holding.
• Apple’s latest quarterly results beat expectations, with EPS of $2.01 versus the $1.95 estimate and revenue of $111.18 billion topping forecasts. Revenue rose 16.6% year over year, underscoring continued growth.
• The company also raised its quarterly dividend to $0.27 per share from $0.26, while analysts remain mostly constructive with a consensus rating of Moderate Buy and an average price target of $314.59.

Targeted Financial Services LLC acquired a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 8,154 shares of the iPhone maker's stock, valued at approximately $2,217,000. Apple comprises 1.9% of Targeted Financial Services LLC's investment portfolio, making the stock its 7th biggest position.

Other institutional investors also recently added to or reduced their stakes in the company. Isthmus Partners LLC boosted its holdings in shares of Apple by 6.4% in the 3rd quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker's stock valued at $25,000 after buying an additional 5,808 shares in the last quarter. ROSS JOHNSON & Associates LLC raised its stake in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after acquiring an additional 180 shares in the last quarter. LSV Asset Management bought a new position in shares of Apple during the 4th quarter worth approximately $65,000. Timmons Wealth Management LLC purchased a new stake in Apple during the fourth quarter valued at approximately $69,000. Finally, Inspire Investing LLC purchased a new stake in Apple during the fourth quarter valued at approximately $76,000. Institutional investors own 67.73% of the company's stock.

Apple Price Performance

NASDAQ AAPL opened at $298.01 on Monday. The company has a market cap of $4.38 trillion, a price-to-earnings ratio of 36.04, a PEG ratio of 2.59 and a beta of 1.09. 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 stock's fifty day moving average price is $289.73 and its 200 day moving average price is $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 EPS for the quarter, topping analysts' consensus estimates of $1.95 by $0.06. The company 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 firm's revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.65 EPS. As a group, equities research analysts forecast that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. This is a positive change from Apple's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. Apple's dividend payout ratio is presently 13.06%.

Apple News Summary

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

Insider Transactions at Apple

In related news, SVP Deirdre O'brien sold 30,002 shares of the company's stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total value of $7,661,010.70. Following the sale, the senior vice president owned 136,810 shares in the company, valued at $34,934,433.50. This represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the completion of the transaction, the chief financial officer owned 13,366 shares in the company, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 97,875 shares of company stock worth $24,998,541. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on AAPL. Barclays reaffirmed an "underweight" rating on shares of Apple in a report on Tuesday, June 9th. TD Cowen raised their price objective on Apple from $335.00 to $350.00 and gave the stock a "buy" rating in a research report on Tuesday, June 9th. UBS Group restated a "buy" rating on shares of Apple in a research note on Tuesday, June 9th. Evercore reaffirmed an "outperform" rating on shares of Apple in a research report on Monday, June 8th. Finally, Moffett Nathanson increased their price target on Apple from $241.00 to $270.00 and gave the company a "neutral" rating in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently 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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