Waterway Wealth Management LLC Has $5.81 Million Position in Apple Inc. $AAPL

Key Points

• Waterway Wealth Management increased its Apple stake by 26.8% in the first quarter, adding 4,841 shares and bringing its position to 22,899 shares worth about $5.81 million.
• Apple continues to receive broadly positive Wall Street support, with analysts maintaining mostly Buy-type ratings and a consensus price target of $314.85.
• The company’s latest results showed strength, as Apple beat earnings and revenue expectations, and it also raised its quarterly dividend from $0.26 to $0.27 per share.

Waterway Wealth Management LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 26.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,899 shares of the iPhone maker's stock after acquiring an additional 4,841 shares during the period. Apple makes up about 1.1% of Waterway Wealth Management LLC's portfolio, making the stock its 17th largest holding. Waterway Wealth Management LLC's holdings in Apple were worth $5,811,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions 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 purchasing an additional 5,808 shares in the last quarter. Lifetime Wealth Management P.C. bought a new position in shares of Apple in the 4th quarter valued at $41,000. ROSS JOHNSON & Associates LLC raised its holdings 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 buying an additional 180 shares in the last quarter. LSV Asset Management acquired a new position in shares of Apple during the 4th quarter worth $65,000. Finally, Timmons Wealth Management LLC bought a new stake in shares of Apple during the 4th quarter worth $69,000. Institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Tigress Financial reaffirmed 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 target price on Apple from $335.00 to $350.00 and gave the stock a "buy" rating in a research note on Tuesday, June 9th. UBS Group reissued a "buy" rating on shares of Apple in a report on Tuesday, June 9th. Sanford C. Bernstein restated an "outperform" rating on shares of Apple in a research note on Monday, June 8th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $310.00 price target (up from $300.00) on shares of Apple in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $314.85.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Reports that Apple plans at least five new iPhone models through early 2027, including a stronger foldable iPhone push, have reinforced expectations for a fresh product cycle and a longer growth runway. Apple plans five new iPhones through 2027, eyes Chinese-made chips amid foldable push, reports say
• Positive Sentiment: Apple also appears to be benefiting from investor optimism that it can navigate the memory-chip shortage and secure supply, including possible deals with lower-cost Chinese chipmakers, which could help protect future production. Apple negotiates with blacklisted Chinese chipmakers amid AI-driven memory crunch
• Positive Sentiment: Several market commentary pieces said Apple is holding up better than the broader tech sector, with traders viewing recent weakness as a buying opportunity and analysts still pointing to solid upside potential. Apple’s Aggressive Price Hikes Raise Eyebrows As Wall Street Links AI Chip Shortages To Inflation Pressure
• Neutral Sentiment: Apple’s recent price hikes on Macs and iPads are being interpreted two ways: as a sign of inflationary component costs, but also as a margin-protection move that may not hurt demand as much as feared. Jim Cramer’s Latest Thought on Apple Inc. (AAPL)
• Neutral Sentiment: Apple’s insider-selling activity and mixed institutional positioning are adding caution, but they are not the main driver of the stock today. Apple Stock (AAPL) Opinions on Recent Price Hikes and Analyst Views
• Negative Sentiment: Some coverage continues to flag pressure on Apple’s margins and demand if higher component costs force more price increases, which could weigh on sentiment over time. Is Apple stock in trouble? Rising costs threaten margins, demand

Apple Stock Performance

Shares of AAPL stock opened at $308.63 on Friday. The firm has a market capitalization of $4.53 trillion, a P/E ratio of 37.32, a P/E/G ratio of 2.68 and a beta of 1.10. Apple Inc. has a twelve month low of $201.50 and a twelve month high of $317.40. 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 stock's fifty day simple moving average is $295.25 and its 200 day simple moving average is $273.85.

Apple (NASDAQ:AAPL - Get Free Report) last issued 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. The business 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 business's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.65 EPS. As a group, sell-side analysts predict that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. 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 (DPR) is presently 13.06%.

Insider Activity at Apple

In other news, CFO Kevan Parekh sold 1,534 shares of the company's stock in a transaction that occurred on 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 $3,675,650. This represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ben Borders sold 1,274 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the transaction, the insider owned 38,713 shares of the company's stock, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 2,924 shares of company stock valued at $825,546 in the last ninety days. 0.06% of the stock is currently owned by insiders.

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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