Up Capital Management Inc. Purchases Shares of 5,823 Apple Inc. $AAPL

Key Points

• Up Capital Management opened a new position in Apple during the fourth quarter, buying 5,823 shares valued at about $1.58 million. Apple now ranks as the fund’s 12th-largest holding and represents 1.4% of its portfolio.
• Apple reported better-than-expected quarterly results, with EPS of $2.01 versus the $1.95 estimate and revenue of $111.18 billion versus expectations of $109.46 billion. Revenue rose 16.6% from a year earlier, and analysts currently expect full-year EPS of 8.74.
• Wall Street sentiment remains generally positive, with Apple carrying an average “Moderate Buy” rating and a consensus target price of $314.85. At the same time, insiders have been selling shares, and Apple’s stock was down 0.7% in recent trading.

Up Capital Management Inc. purchased a new position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 5,823 shares of the iPhone maker's stock, valued at approximately $1,583,000. Apple makes up 1.4% of Up Capital Management Inc.'s holdings, making the stock its 12th largest holding.

Several other large investors also recently modified their holdings of AAPL. First National Bank of Hutchinson grew 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 purchasing an additional 6,982 shares during the period. Eagle Capital Management LLC raised its holdings in shares of Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after purchasing an additional 272 shares during the period. Brighton Jones LLC raised its holdings in shares of Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after purchasing an additional 69,207 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock worth $16,742,000 after purchasing an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE boosted its position in shares of Apple by 2.4% during the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock worth $12,587,000 after purchasing an additional 1,155 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Trading Down 0.7%

AAPL opened at $294.98 on Wednesday. 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 Inc. has a fifty-two week low of $199.26 and a fifty-two week high of $317.40. The firm has a market capitalization of $4.33 trillion, a PE ratio of 35.67, a P/E/G ratio of 2.58 and a beta of 1.09. The company's 50-day moving average is $291.15 and its 200 day moving average is $273.06.

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 the consensus estimate of $1.95 by $0.06. The business had revenue of $111.18 billion for the quarter, compared to analysts' expectations of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 EPS. As a group, research analysts predict that Apple Inc. will post 8.74 earnings per share for the current fiscal 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 issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.4%. This is an increase from Apple's previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. Apple's dividend payout ratio is currently 13.06%.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research analyst reports. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Apple in a research report on Monday, June 8th. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a report on Tuesday, June 9th. Tigress Financial reissued a "strong-buy" rating and issued a $375.00 price objective (up from $305.00) on shares of Apple in a research note on Thursday, May 14th. TD Cowen boosted their price objective on Apple from $335.00 to $350.00 and gave the company a "buy" rating in a report on Tuesday, June 9th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Apple in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $314.85.

Insider Buying and Selling

In other news, insider Ben Borders sold 116 shares of the company's stock in a transaction 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. This represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Timothy D. Cook sold 64,949 shares of the firm's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the transaction, the chief executive officer directly owned 3,280,418 shares in the company, valued at $833,980,668.14. The trade was a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 97,875 shares of company stock valued at $24,998,541. 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: Wall Street is becoming more optimistic about Apple’s new Siri and AI strategy after the post-WWDC selloff, suggesting investors may be overreacting to near-term skepticism. After an Initial Panic, Wall Street's Leaning Into Apple's New Siri AI
• Positive Sentiment: Reports that Apple has agreed to partner with Intel to design and manufacture chips in the U.S. are being viewed as a supply-chain diversification win and a long-term catalyst for Apple’s hardware roadmap. Apple’s Intel Deal Arrives at the Right Time for Its Stock
• Positive Sentiment: Tim Cook’s comments about higher memory costs and upcoming price increases are being interpreted by some analysts as supportive of Apple’s earnings power, since price hikes could help offset component inflation. Apple: Empirical Evidence Suggests Upcoming Price Hikes Will Boost Earnings
• Neutral Sentiment: Apple’s TV and streaming strategy is drawing attention, but the discussion appears more explanatory than immediately material to the stock. Apple Explains TV Library Strategy
• Neutral Sentiment: A Zacks comparison of NVIDIA and Apple highlights Apple’s lower valuation and services strength, reinforcing the stock’s defensive appeal without changing the near-term setup. NVIDIA vs. Apple: Which Tech Titan Is the Better Buy Right Now?
• Negative Sentiment: Britain’s competition tribunal approved a £3 billion class action over iCloud fees, adding a meaningful legal overhang and potential financial liability for Apple. UK tribunal gives go ahead for $4 billion lawsuit against Apple over iCloud services
• Negative Sentiment: Apple also faces reputational risk after closing its first unionized U.S. store, with the union accusing the company of retaliation. Apple Just Closed Its First Unionized U.S. Store
• Negative Sentiment: Several reports say Apple is forcing price increases on hardware because memory and chip costs are rising, which could pressure demand if consumers push back. Memory's price surge threatens Apple's 'magic formula' — and the economy

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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