Rooted Wealth Advisors Inc. raised its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 19.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 19,535 shares of the iPhone maker’s stock after buying an additional 3,113 shares during the quarter. Apple makes up approximately 1.3% of Rooted Wealth Advisors Inc.’s portfolio, making the stock its 16th biggest holding. Rooted Wealth Advisors Inc.’s holdings in Apple were worth $5,334,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. Isthmus Partners LLC boosted its position in Apple by 6.4% during the third 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. Lifetime Wealth Management P.C. purchased a new position in shares of Apple in the fourth quarter valued at $41,000. ROSS JOHNSON & Associates LLC raised its stake in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares during the last quarter. LSV Asset Management purchased a new stake in shares of Apple in the 4th quarter worth about $65,000. Finally, Timmons Wealth Management LLC acquired a new stake in Apple in the 4th quarter valued at about $69,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.
Apple Stock Performance
Apple stock opened at $308.63 on Monday. The stock has a fifty day moving average price of $295.25 and a 200 day moving average price of $273.84. Apple Inc. has a 52 week low of $201.50 and a 52 week high of $317.40. The firm has a market capitalization of $4.53 trillion, a P/E ratio of 37.32, a PEG ratio of 2.68 and a beta of 1.10. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70.
Apple Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a $0.27 dividend. This is a boost 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 of this dividend was Monday, May 11th. Apple’s dividend payout ratio is 13.06%.
Analyst Ratings Changes
A number of equities analysts have issued reports on AAPL shares. KGI Securities cut shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price for the company. in a research report on Monday, June 22nd. Wedbush reiterated an “outperform” rating and issued a $400.00 price target on shares of Apple in a research report on Friday, June 5th. Maxim Group restated a “buy” rating and set a $350.00 price objective (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. UBS Group reaffirmed a “buy” rating on shares of Apple in a research note on Tuesday, June 9th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Apple in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $314.85.
Check Out Our Latest Stock Report on Apple
Key Stories Impacting Apple
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Reports that Apple plans at least five new iPhone models through early 2027, including a stronger foldable iPhone push, have reinforced expectations for a fresh product cycle and a longer growth runway. Apple plans five new iPhones through 2027, eyes Chinese-made chips amid foldable push, reports say
- Positive Sentiment: Apple also appears to be benefiting from investor optimism that it can navigate the memory-chip shortage and secure supply, including possible deals with lower-cost Chinese chipmakers, which could help protect future production. Apple negotiates with blacklisted Chinese chipmakers amid AI-driven memory crunch
- Positive Sentiment: Several market commentary pieces said Apple is holding up better than the broader tech sector, with traders viewing recent weakness as a buying opportunity and analysts still pointing to solid upside potential. Apple’s Aggressive Price Hikes Raise Eyebrows As Wall Street Links AI Chip Shortages To Inflation Pressure
- Neutral Sentiment: Apple’s recent price hikes on Macs and iPads are being interpreted two ways: as a sign of inflationary component costs, but also as a margin-protection move that may not hurt demand as much as feared. Jim Cramer’s Latest Thought on Apple Inc. (AAPL)
- Neutral Sentiment: Apple’s insider-selling activity and mixed institutional positioning are adding caution, but they are not the main driver of the stock today. Apple Stock (AAPL) Opinions on Recent Price Hikes and Analyst Views
- Negative Sentiment: Some coverage continues to flag pressure on Apple’s margins and demand if higher component costs force more price increases, which could weigh on sentiment over time. Is Apple stock in trouble? Rising costs threaten margins, demand
Insider Activity at Apple
In related news, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ben Borders sold 116 shares of the company’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 $11,425,754.82. This trade represents a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 2,924 shares of company stock worth $825,546 over the last three months. Corporate 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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