Integrity Wealth Partners LLC acquired a new stake in Apple Inc. (NASDAQ:AAPL – Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 28,363 shares of the iPhone maker’s stock, valued at approximately $7,198,000. Apple makes up about 6.5% of Integrity Wealth Partners LLC’s portfolio, making the stock its 3rd largest holding.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Overbrook Management Corp grew its position in shares of Apple by 57.4% in the 4th quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock valued at $28,449,000 after buying an additional 38,174 shares during the last quarter. Rainier Family Wealth Inc. increased its stake in shares of Apple by 14.1% in the 1st quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker’s stock valued at $6,189,000 after acquiring an additional 3,014 shares in the last quarter. Torren Management LLC bought a new stake in Apple in the fourth quarter valued at $1,178,000. Summit Wealth Partners LLC raised its stake in Apple by 108.3% during the 1st quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker’s stock worth $8,880,000 after buying an additional 18,188 shares during the period. Finally, Adventist Health System Sunbelt Healthcare Corp acquired a new position in shares of Apple during the fourth quarter worth approximately $105,482,000. Institutional investors own 67.73% of the company’s stock.
Insider Buying and Selling at Apple
In other news, insider Ben Borders sold 116 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the transaction, the insider directly owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 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 transaction of $421,850.00. Following the transaction, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,924 shares of company stock valued at $825,546 in the last three months. 0.06% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Report on AAPL
Key Stories Impacting Apple
Here are the key news stories impacting Apple this week:
- Positive Sentiment: China approved Apple Intelligence for iPhones, a key regulatory green light that clears the way for Apple’s AI rollout in one of its most important markets and could help support upgrades and Services growth. Reuters: Apple Intelligence AI service registered with China’s cyberspace regulator
- Positive Sentiment: Reports that Apple is exploring acquisitions of AI chip startups to strengthen its server and AI hardware capabilities reinforced the idea that the company is actively investing to remain competitive in AI without a huge data-center spending spree. Reuters: Apple chasing AI chip company deals, The Information reports
- Positive Sentiment: News that Apple may spend about $30 billion through its Broadcom partnership adds confidence in supply-chain security and custom silicon development, which investors see as supportive for future product cycles and margins. Yahoo Finance/Reuters: Apple Plans to Spend $30 Billion in a Deal With Broadcom (AVGO)
- Positive Sentiment: Apple also won dismissal of a high-stakes iCloud-related lawsuit, removing an overhang and improving sentiment around legal risk. Yahoo Finance: Apple Wins Dismissal of iCloud Lawsuit
- Neutral Sentiment: Several media and analyst pieces noted Apple’s stock hitting record highs and trading near a new 52-week high, reflecting strong momentum after a sharp run-up rather than a fresh fundamental surprise. Investopedia: Apple Could Buy an AI Chip Company. Its Hot Stock Just Set a Fresh Record High
- Negative Sentiment: KeyBanc downgraded Apple to Underweight, warning that slowing hardware demand, softer Services growth, and valuation concerns could limit further upside. Yahoo Finance: KeyBanc Downgrades Apple on Growth Concerns
Apple Price Performance
Shares of Apple stock opened at $327.50 on Thursday. Apple Inc. has a 12 month low of $201.50 and a 12 month high of $328.73. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The business’s 50-day moving average price is $301.89 and its 200-day moving average price is $276.27. The firm has a market capitalization of $4.81 trillion, a PE ratio of 39.60, a price-to-earnings-growth ratio of 2.74 and a beta of 1.10.
Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. The firm had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.65 EPS. Sell-side analysts forecast that Apple Inc. will post 8.74 EPS for the current fiscal year.
Apple Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Apple’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. Apple’s payout ratio is currently 13.06%.
About Apple
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.
Further Reading
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