CrossGen Wealth LLC acquired a new stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 21,295 shares of the iPhone maker’s stock, valued at approximately $5,789,000. Apple comprises 5.1% of CrossGen Wealth LLC’s holdings, making the stock its 2nd largest position.
Several other hedge funds have also made changes to their positions in the stock. Isthmus Partners LLC grew its holdings in shares of Apple by 6.4% during the 3rd quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker’s stock worth $25,000 after purchasing an additional 5,808 shares in the last quarter. Sellwood Investment Partners LLC raised its stake in shares of Apple by 110.9% in the third quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker’s stock valued at $34,000 after purchasing an additional 71 shares in the last quarter. ROSS JOHNSON & Associates LLC raised its stake in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares in the last quarter. LSV Asset Management bought a new position in Apple in the fourth quarter worth $65,000. Finally, Timmons Wealth Management LLC bought a new position in Apple in the fourth quarter worth $69,000. Institutional investors own 67.73% of the company’s stock.
Key Apple News
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Bank of America reiterated a Buy rating on Apple and kept a $380 price target, citing Apple’s pricing power, strong supply-chain position, and ability to manage rising memory costs. Article Title
- Positive Sentiment: President Trump said Apple will work with Intel to design and build chips in the U.S., raising hopes for a domestic supply-chain boost and stronger strategic positioning for Apple. Article Title
- Positive Sentiment: Analysts said Apple is relatively well positioned to weather the AI-driven memory shortage because of its scale, inventory, and supplier relationships, which may help protect hardware margins. Article Title
- Neutral Sentiment: Apple reportedly plans to raise prices across its product lineup, which could support margins but may also weigh on consumer demand if the increases are too large. Article Title
- Neutral Sentiment: Apple is also reportedly developing new AI wearables and a foldable iPhone for 2027, which supports the long-term product pipeline but is unlikely to affect near-term earnings. Article Title
- Negative Sentiment: Italy opened a Digital Markets Act probe into Apple’s cloud interoperability practices, adding another regulatory risk for the company in Europe. Article Title
Apple Stock Up 0.7%
Apple (NASDAQ:AAPL – Get Free Report) last announced 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. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. During the same quarter last year, the company posted $1.65 EPS. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. Equities research analysts predict that Apple Inc. will post 8.75 earnings per share for the current fiscal year.
Apple Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a dividend of $0.27 per share. This is a positive change from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, May 11th. Apple’s payout ratio is currently 13.06%.
Analyst Ratings Changes
Several equities research analysts have issued reports on AAPL shares. Jefferies Financial Group reissued a “hold” rating on shares of Apple in a report on Tuesday, June 9th. Citigroup reiterated a “buy” rating on shares of Apple in a research report on Monday, June 1st. Rosenblatt Securities reissued a “neutral” rating and issued a $276.00 target price on shares of Apple in a research note on Tuesday, June 9th. Evercore reissued an “outperform” rating on shares of Apple in a research report on Monday, June 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Apple in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.59.
View Our Latest Report on AAPL
Insider Activity
In other news, CEO Timothy D. Cook sold 64,949 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total value of $16,511,984.27. Following the transaction, the chief executive officer directly owned 3,280,418 shares of the company’s stock, valued at $833,980,668.14. The trade was a 1.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Deirdre O’brien sold 30,002 shares of the 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 sale, the senior vice president owned 136,810 shares in the company, valued at approximately $34,934,433.50. This trade represents a 17.99% decrease in their ownership of the stock. 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. In the last ninety days, insiders sold 97,875 shares of company stock worth $24,998,541. Corporate insiders own 0.06% of the company’s stock.
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.
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