waypoint wealth counsel decreased its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 34.7% during the 1st quarter, Holdings Channel reports. The firm owned 23,050 shares of the iPhone maker’s stock after selling 12,272 shares during the period. Apple comprises about 3.0% of waypoint wealth counsel’s investment portfolio, making the stock its 8th biggest position. waypoint wealth counsel’s holdings in Apple were worth $5,850,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in AAPL. Lifetime Wealth Management P.C. acquired a new stake in Apple in the fourth quarter valued at $41,000. ROSS JOHNSON & Associates LLC grew its position in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares during the period. LSV Asset Management acquired a new position in shares of Apple during the 4th quarter worth about $65,000. Timmons Wealth Management LLC bought a new stake in shares of Apple in the 4th quarter valued at about $69,000. Finally, Inspire Investing LLC bought a new stake in shares of Apple in the 4th quarter valued at about $76,000. Institutional investors own 67.73% of the company’s stock.
Insider Activity at Apple
In related news, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the completion of the sale, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ben Borders sold 116 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares of the company’s stock, valued at $11,425,754.82. This trade represents a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 2,924 shares of company stock valued at $825,546. 0.06% of the stock is currently owned by insiders.
Analyst Ratings Changes
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Trending Headlines about Apple
Here are the key news stories impacting Apple this week:
- Positive Sentiment: The Broadcom agreement should improve Apple’s supply chain resiliency, reduce reliance on overseas suppliers, and strengthen its domestic manufacturing story. Apple to increase spend with Broadcom to produce billions more U.S. chips
- Positive Sentiment: Wall Street is also taking the deal as a sign that Apple is investing aggressively in its long-term chip and AI infrastructure, which could support future product launches and margin stability. Apple Announces Broadcom Chip Deal Worth More Than $30 Billion
- Neutral Sentiment: Apple also lost an EU court challenge to the bloc’s Digital Markets Act, leaving its App Store and iOS under tougher antitrust obligations in Europe, but investors appear to be focusing more on the chip deal today. EU court rejects Apple’s challenge against EU rules reining in Big Tech
- Neutral Sentiment: Separately, JPMorgan said recent hardware price increases are unlikely to hurt demand, reinforcing the view that Apple’s pricing power remains intact heading into earnings later this month. Apple price hikes unlikely to hurt demand, JPMorgan says as it raises PT
Apple Stock Up 0.9%
Shares of AAPL opened at $313.39 on Thursday. Apple Inc. has a 52 week low of $201.50 and a 52 week high of $317.40. The firm has a market cap of $4.60 trillion, a P/E ratio of 37.89, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. The firm’s 50-day simple moving average is $297.74 and its 200 day simple moving average is $274.68. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07.
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 net margin of 27.15% and a return on equity of 146.69%. The firm had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. During the same period last year, the business posted $1.65 earnings per share. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, analysts forecast that Apple Inc. will post 8.74 earnings per share for the current year.
Apple Increases Dividend
The company also recently announced 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 an increase from Apple’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. Apple’s dividend payout ratio is 13.06%.
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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