Jones Kertz & Associates Inc. acquired a new stake in Apple Inc. (NASDAQ:AAPL – Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 55,884 shares of the iPhone maker’s stock, valued at approximately $15,193,000. Apple accounts for about 7.8% of Jones Kertz & Associates Inc.’s investment portfolio, making the stock its 2nd largest holding.
A number of other hedge funds have also recently added to or reduced their stakes in AAPL. Norges Bank purchased a new stake in shares of Apple during the 2nd quarter worth approximately $38,942,255,000. Nuveen LLC purchased a new stake in shares of Apple during the 1st quarter worth approximately $17,472,482,000. Laurel Wealth Advisors LLC boosted its stake in shares of Apple by 20,464.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock worth $5,553,753,000 after acquiring an additional 26,937,401 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Apple by 14.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock worth $26,220,566,000 after acquiring an additional 13,137,968 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.
Trending Headlines about Apple
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Apple’s post-earnings rally continues after the company posted record quarterly revenue and EPS, boosted its dividend, and authorized a fresh $100 billion buyback. Analysts say the results support further upside and have raised price targets. Apple Stock Hits All-Time High as Post-Earnings Rally Continues
- Positive Sentiment: Evercore ISI lifted its price target on Apple to $365 and said a bull-case scenario could reach $500, citing compounding growth from Services and Apple’s ability to keep expanding free cash flow. Evercore ISI Hikes Apple Price Target to $365
- Positive Sentiment: Investor sentiment is being helped by reports that iPhone demand remains strong globally, plus Soros Fund Management reportedly boosted its Apple position during the quarter. George Soros’s fund buys Berkshire Hathaway stock — now that Buffett is gone
- Positive Sentiment: Apple reportedly cut iPhone 17 prices in China ahead of the 618 shopping festival, which could help support unit sales in a key market. Apple Cuts iPhone 17 Prices in China
- Neutral Sentiment: OpenAI is considering legal action over its strained ChatGPT partnership with Apple, which adds uncertainty around Apple’s AI strategy and could weigh on sentiment if the dispute escalates. OpenAI explores legal options against Apple
- Neutral Sentiment: Reports that Anthropic’s Mythos AI found vulnerabilities in Apple’s macOS/iOS are a reminder of ongoing security scrutiny, but the news is more reputational than fundamentally financial for now. Anthropic’s Mythos Helped Find Bugs in Apple’s Desktop Operating System
Apple Stock Performance
Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $109.46 billion. During the same period in the previous year, the firm posted $1.65 EPS. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 8.74 EPS for the current fiscal year.
Apple Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a $0.27 dividend. This is a boost from Apple’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. This represents a $1.08 annualized dividend and a yield of 0.4%. Apple’s payout ratio is presently 13.06%.
Wall Street Analysts Forecast Growth
AAPL has been the topic of several research analyst reports. UBS Group set a $296.00 price target on Apple and gave the stock a “neutral” rating in a research note on Friday, May 1st. Sanford C. Bernstein reissued an “outperform” rating on shares of Apple in a research note on Wednesday, March 4th. The Goldman Sachs Group reissued a “buy” rating on shares of Apple in a research note on Monday, March 2nd. KGI Securities raised Apple to an “outperform” rating and set a $306.00 price target on the stock in a research note on Friday, January 30th. Finally, DA Davidson reissued a “neutral” rating and set a $270.00 price target on shares of Apple in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $308.74.
Get Our Latest Stock Report on AAPL
Insiders Place Their Bets
In other Apple news, SVP Deirdre O’brien sold 30,002 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president directly owned 136,810 shares in the company, valued at approximately $34,934,433.50. The trade was a 17.99% decrease in their position. The sale 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, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were 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 trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 97,759 shares of company stock valued at $24,964,305. Insiders own 0.06% of the company’s stock.
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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