Modern Wealth Management LLC lifted its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 4.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 517,048 shares of the iPhone maker’s stock after purchasing an additional 22,053 shares during the period. Apple accounts for about 2.3% of Modern Wealth Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Modern Wealth Management LLC’s holdings in Apple were worth $132,173,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently modified their holdings of AAPL. Lifetime Wealth Management P.C. bought a new stake in Apple during the 4th quarter valued at approximately $41,000. ROSS JOHNSON & Associates LLC raised 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 worth $42,000 after acquiring an additional 180 shares in the last quarter. LSV Asset Management purchased a new position in shares of Apple in the 4th quarter valued at approximately $65,000. Timmons Wealth Management LLC bought a new stake in shares of Apple during the fourth quarter valued at approximately $69,000. Finally, Inspire Investing LLC bought a new stake in shares of Apple during the fourth quarter valued at approximately $76,000. Institutional investors own 67.73% of the company’s stock.
Analyst Ratings Changes
AAPL has been the subject of a number of research reports. Barclays reiterated an “underweight” rating and issued a $245.00 price objective (down from $253.00) on shares of Apple in a report on Friday, July 31st. KGI Securities cut shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price on the stock. in a report on Monday, June 22nd. Robert W. Baird upped their target price on shares of Apple from $310.00 to $330.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Royal Bank Of Canada set a $365.00 price target on shares of Apple in a research note on Wednesday, July 15th. Finally, China Renaissance cut shares of Apple from a “buy” rating to a “hold” rating and set a $280.00 price target for the company. in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $330.44.
Apple Price Performance
Shares of NASDAQ:AAPL opened at $313.33 on Monday. The stock has a fifty day simple moving average of $309.45 and a two-hundred day simple moving average of $283.42. The stock has a market capitalization of $4.57 trillion, a price-to-earnings ratio of 35.93, a PEG ratio of 2.68 and a beta of 1.09. Apple Inc. has a 12-month low of $219.25 and a 12-month high of $344.57. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66.
Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The firm had revenue of $109.42 billion for the quarter, compared to analysts’ expectations of $109.04 billion. During the same period in the prior year, the firm posted $1.57 earnings per share. The company’s quarterly revenue was up 16.4% on a year-over-year basis. On average, research analysts anticipate that Apple Inc. will post 8.76 earnings per share for the current fiscal year.
Apple Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, August 10th. Apple’s dividend payout ratio (DPR) is currently 12.39%.
Trending Headlines about Apple
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Planned CEO transition appears orderly. Tim Cook will step down in September and be succeeded by longtime Apple executive John Ternus, a veteran with experience dating back to the Steve Jobs era. Cook’s endorsement and Ternus’ familiarity with Apple’s products may reduce concerns about strategic disruption. Tim Cook Says There’s ‘No Better Person’ to Take Over at Apple
- Positive Sentiment: Core business momentum remains strong. Apple’s latest quarter exceeded earnings and revenue expectations, with revenue up roughly 16% year over year. Broad iPhone, Mac and Services demand continues to support the bullish case. Tim Cook’s Last Quarter as CEO Was Apple’s Best June Quarter Ever
- Positive Sentiment: App Store monetization is holding up. App Store revenue increased slightly despite a 4% decline in iPhone and iPad downloads, as revenue per download rose 4.7%. This suggests continued pricing and engagement resilience in a key Services business. Apple App Store Revenue Ticks Up Despite Falling Downloads
- Neutral Sentiment: OpenAI is seeking dismissal of Apple’s trade-secrets lawsuit. OpenAI denies misappropriating confidential information related to Apple’s consumer-hardware efforts. The filing does not resolve the dispute, leaving legal and competitive uncertainty in place. OpenAI Seeks Dismissal of Apple’s Trade Secrets Lawsuit
- Negative Sentiment: Near-term cost and growth pressures are weighing on sentiment. Rising memory prices, supply constraints and policy risks could pressure margins, while slower Services growth has prompted some firms to downgrade Apple to Hold or Moderate Sell. Apple’s Capex Strategy Worked But Other Pressures Are Mounting
- Negative Sentiment: Competition in emerging hardware is increasing. Samsung reported a 30% rise in foldable-device preorders, highlighting a market Apple has yet to enter. Investors may view future Apple foldables as an opportunity, but execution and timing remain uncertain. Samsung Foldable Preorders Jump 30%
Insiders Place Their Bets
In other Apple news, insider Ben Borders sold 116 shares of Apple stock in a transaction dated 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.06% of the company’s stock.
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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