Counterweight Ventures LLC decreased its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 10.1% during the first quarter, Holdings Channel reports. The fund owned 27,929 shares of the iPhone maker’s stock after selling 3,153 shares during the period. Apple comprises approximately 4.0% of Counterweight Ventures LLC’s investment portfolio, making the stock its 5th biggest position. Counterweight Ventures LLC’s holdings in Apple were worth $7,088,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of AAPL. Lifetime Wealth Management P.C. purchased a new stake in Apple during the fourth quarter valued at approximately $41,000. ROSS JOHNSON & Associates LLC raised its position in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares during the period. LSV Asset Management purchased a new position in shares of Apple during the 4th quarter worth $65,000. Timmons Wealth Management LLC purchased a new position in shares of Apple during the 4th quarter worth $69,000. Finally, Inspire Investing LLC bought a new stake in shares of Apple during the 4th quarter valued at $76,000. 67.73% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on AAPL shares. KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $250.00 price objective for the company. in a research note on Tuesday. Wells Fargo & Company reissued 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. BNP Paribas Exane upgraded Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price target for the company in a research report on Friday, April 17th. Barclays reaffirmed an “underweight” rating on shares of Apple in a research note on Tuesday, June 9th. Finally, UBS Group set a $250.00 price objective on Apple in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $314.26.
Trending Headlines about 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
Insider Activity at Apple
In related news, insider Ben Borders sold 116 shares of Apple 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 sale, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. This trade represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 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 directly owned 13,366 shares in the company, valued at approximately $3,675,650. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,924 shares of company stock worth $825,546 in the last three months. 0.06% of the stock is owned by corporate insiders.
Apple Trading Up 4.0%
Shares of Apple stock opened at $327.50 on Thursday. Apple Inc. has a fifty-two week low of $201.50 and a fifty-two week high of $328.73. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The company has a market capitalization of $4.81 trillion, a P/E ratio of 39.60, a P/E/G ratio of 2.74 and a beta of 1.10. The company has a fifty day moving average of $301.89 and a 200 day moving average of $276.27.
Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business had revenue of $111.18 billion for the quarter, compared to analysts’ expectations of $109.46 billion. During the same period last year, the firm earned $1.65 earnings per share. The business’s quarterly revenue was up 16.6% on a year-over-year basis. On average, sell-side analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current fiscal year.
Apple Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a dividend of $0.27 per share. This is an increase from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, May 11th. Apple’s dividend payout ratio (DPR) 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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