Tulsa Wealth Advisors INC Buys Shares of 85,294 Apple Inc. $AAPL

Key Points

• Tulsa Wealth Advisors opened a new position in Apple during the fourth quarter, buying 85,294 shares worth about $23.2 million. Apple now makes up 7.7% of the firm’s holdings and is its second-largest position.
• Wall Street sentiment remains upbeat, with multiple analysts reiterating buy or outperform ratings. MarketBeat data shows Apple’s consensus rating is Moderate Buy with an average price target of $314.59.
• Apple recently beat quarterly earnings expectations, posting $2.01 EPS on $111.18 billion in revenue, and also raised its quarterly dividend to $0.27 per share. The stock has also seen insider selling, including CEO Tim Cook’s pre-planned share sale earlier this year.

Tulsa Wealth Advisors INC bought a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 85,294 shares of the iPhone maker's stock, valued at approximately $23,188,000. Apple comprises 7.7% of Tulsa Wealth Advisors INC's holdings, making the stock its 2nd largest holding.

Other institutional investors also recently modified their holdings of the company. ROSS JOHNSON & Associates LLC increased its stake in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after purchasing an additional 180 shares in the last quarter. Timmons Wealth Management LLC bought a new position in shares of Apple during the fourth quarter worth $69,000. LSV Asset Management acquired a new position in shares of Apple in the 4th quarter valued at $65,000. Inspire Investing LLC acquired a new position in shares of Apple in the 4th quarter valued at $76,000. Finally, Basso Capital Management L.P. bought a new stake in shares of Apple in the 4th quarter valued at $88,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AAPL shares. UBS Group reaffirmed a "buy" rating on shares of Apple in a research note on Tuesday, June 9th. Robert W. Baird set a $310.00 price target on Apple in a report on Friday, May 1st. Evercore reaffirmed an "outperform" rating on shares of Apple in a research report on Monday, June 8th. Moffett Nathanson lifted their price objective on Apple from $241.00 to $270.00 and gave the company a "neutral" rating in a report on Wednesday, February 25th. Finally, Citigroup reiterated 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 given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $314.59.

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 64,949 shares of the business's 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 sale, the chief executive officer owned 3,280,418 shares in the company, valued at approximately $833,980,668.14. The trade was a 1.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 that occurred on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares in the company, valued at $11,425,754.82. The trade was 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 sold a total of 97,875 shares of company stock worth $24,998,541 in the last 90 days. 0.06% of the stock is owned by corporate insiders.

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

Apple Price Performance

Shares of NASDAQ AAPL opened at $298.01 on Monday. The firm has a market cap of $4.38 trillion, a PE ratio of 36.04, a PEG ratio of 2.59 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. Apple Inc. has a 1-year low of $196.85 and a 1-year high of $317.40. The company has a fifty day moving average price of $289.73 and a 200 day moving average price of $272.91.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm had revenue of $111.18 billion during the quarter, compared to analysts' expectations of $109.46 billion. During the same quarter in the prior year, the company earned $1.65 EPS. The company's revenue was up 16.6% on a year-over-year basis. Research analysts predict that Apple Inc. will post 8.75 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently disclosed 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. The ex-dividend date was Monday, May 11th. This is a boost from Apple's previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. Apple's dividend payout ratio is 13.06%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.