Winthrop Partners WNY LLC Takes $8.19 Million Position in Apple Inc. $AAPL

Key Points

• Winthrop Partners WNY LLC bought a new Apple stake in the fourth quarter, purchasing 30,140 shares worth about $8.19 million. Apple now ranks as the fund’s third-largest holding and represents 4.4% of its portfolio.
• Several other institutional investors also added Apple shares, and hedge funds now own 67.73% of the company. Meanwhile, insiders have been selling stock, including CFO Kevan Parekh and SVP Deirdre O’Brien.
• Analysts remain broadly constructive on Apple, with a Moderate Buy consensus and an average price target of $314.85. Apple also recently beat quarterly earnings and revenue estimates and raised its dividend to $0.27 per share.

Winthrop Partners WNY LLC purchased a new stake in Apple Inc. (NASDAQ:AAPL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 30,140 shares of the iPhone maker's stock, valued at approximately $8,194,000. Apple makes up 4.4% of Winthrop Partners WNY LLC's investment portfolio, making the stock its 3rd largest holding.

A number of other large investors also recently bought and sold shares of the business. Nalls Sherbakoff Group LLC acquired a new stake in Apple in the 4th quarter valued at $3,181,000. Meadowbrook Advisors Group LLC acquired a new position in Apple during the fourth quarter worth $15,995,000. DUTCH ASSET Corp acquired a new position in Apple during the fourth quarter worth $1,972,000. Larry Mathis Financial Planning LLC acquired a new position in Apple during the fourth quarter worth $475,000. Finally, AG Campbell Advisory LLC purchased a new position in Apple during the fourth quarter valued at $4,914,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In related news, 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 value of $421,850.00. Following the completion of the sale, the chief financial officer owned 13,366 shares of the company's stock, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Deirdre O'brien sold 30,002 shares of Apple 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 transaction, the senior vice president owned 136,810 shares in the company, valued at approximately $34,934,433.50. The trade was a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 97,875 shares of company stock valued at $24,998,541. Company insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Barclays reiterated an "underweight" rating on shares of Apple in a research report on Tuesday, June 9th. Citigroup reaffirmed a "buy" rating on shares of Apple in a research note on Monday, June 1st. Bank of America reaffirmed a "buy" rating and issued a $380.00 price target on shares of Apple in a research note on Thursday, June 18th. KeyCorp reiterated a "sector weight" rating on shares of Apple in a report on Tuesday, June 9th. Finally, UBS Group reiterated a "buy" rating on shares of Apple in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $314.85.

More Apple News

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 Price Performance

Apple stock opened at $294.98 on Wednesday. The company has a fifty day simple moving average of $291.15 and a 200-day simple moving average of $273.06. The firm has a market capitalization of $4.33 trillion, a price-to-earnings ratio of 35.67, a PEG ratio of 2.58 and a beta of 1.09. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. Apple Inc. has a 52-week low of $199.26 and a 52-week high of $317.40.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.06. The firm had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company's revenue for the quarter was up 16.6% on a year-over-year basis. During the same period last year, the firm posted $1.65 earnings per share. On average, equities analysts anticipate that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a $0.27 dividend. 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. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. Apple's dividend payout ratio 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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