BIP Wealth LLC Has $24.02 Million Holdings in Apple Inc. $AAPL

BIP Wealth LLC trimmed its position in Apple Inc. (NASDAQ:AAPL) by 11.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,634 shares of the iPhone maker’s stock after selling 12,586 shares during the quarter. Apple accounts for 1.0% of BIP Wealth LLC’s portfolio, making the stock its 17th largest position. BIP Wealth LLC’s holdings in Apple were worth $24,017,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lifetime Wealth Management P.C. acquired a new position in Apple in the fourth quarter worth about $41,000. ROSS JOHNSON & Associates LLC boosted its holdings in Apple by 1,800.0% during 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 acquired a new stake in Apple during the fourth quarter valued at approximately $65,000. Timmons Wealth Management LLC bought a new stake in shares of Apple in the 4th quarter valued at approximately $69,000. Finally, Inspire Investing LLC bought a new stake in shares of Apple in the 4th quarter valued at approximately $76,000. 67.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several analyst reports. KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $250.00 target price for the company. in a research report on Tuesday. TD Cowen upped their price target on Apple from $335.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. DA Davidson reiterated a “neutral” rating and set a $270.00 price objective on shares of Apple in a research note on Friday, May 1st. Tigress Financial reissued a “strong-buy” rating and set a $375.00 price objective (up from $305.00) on shares of Apple in a report on Thursday, May 14th. Finally, BNP Paribas Exane raised shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $314.26.

Apple Trading Up 4.0%

AAPL stock opened at $327.50 on Thursday. The business has a fifty day moving average price of $301.89 and a 200 day moving average price of $276.27. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. Apple Inc. has a fifty-two week low of $201.50 and a fifty-two week high of $328.73. The stock has a market capitalization of $4.81 trillion, a price-to-earnings ratio of 39.60, a P/E/G ratio of 2.74 and a beta of 1.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. The company had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.65 earnings per share. Analysts expect that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently declared 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 a positive change from Apple’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. This represents a $1.08 annualized dividend and a yield of 0.3%. Apple’s dividend payout ratio is currently 13.06%.

Apple News Roundup

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

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ben Borders sold 1,274 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the transaction, the insider owned 38,713 shares in the company, valued at $11,226,770. The trade was a 3.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 2,924 shares of company stock worth $825,546. 0.06% of the stock is owned by corporate insiders.

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.