Briggs Wealth Management Inc Acquires New Holdings in Apple Inc. $AAPL

Briggs Wealth Management Inc acquired a new stake in Apple Inc. (NASDAQ:AAPL) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 4,447 shares of the iPhone maker’s stock, valued at approximately $1,209,000. Apple comprises about 1.3% of Briggs Wealth Management Inc’s portfolio, making the stock its 12th largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Sellwood Investment Partners LLC increased its position in Apple by 110.9% during the third quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker’s stock worth $34,000 after buying an additional 71 shares in the last quarter. ROSS JOHNSON & Associates LLC raised its holdings 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 worth $42,000 after acquiring an additional 180 shares during the last quarter. Timmons Wealth Management LLC purchased a new stake in shares of Apple in the fourth quarter valued at $69,000. LSV Asset Management purchased a new stake in shares of Apple in the fourth quarter valued at $65,000. Finally, Inspire Investing LLC acquired a new stake in shares of Apple during the fourth quarter valued at $76,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AAPL. TD Cowen lifted their price objective on Apple from $335.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Rosenblatt Securities restated a “neutral” rating and issued a $276.00 target price on shares of Apple in a report on Tuesday, June 9th. Maxim Group reaffirmed a “buy” rating and set a $350.00 price target (up from $310.00) on shares of Apple in a research note on Tuesday, June 9th. Oppenheimer reiterated a “market perform” rating on shares of Apple in a report on Tuesday, June 9th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Apple in a report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $314.59.

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 64,949 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the completion of the sale, the chief executive officer owned 3,280,418 shares of the company’s stock, valued at approximately $833,980,668.14. The trade was a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 1,274 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the sale, the insider owned 38,713 shares of the company’s stock, valued at $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 97,875 shares of company stock worth $24,998,541 over the last ninety days. 0.06% of the stock is owned by insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $298.01 on Friday. The company has a market cap of $4.38 trillion, a P/E ratio of 36.04, a P/E/G ratio of 2.58 and a beta of 1.09. The firm’s 50 day moving average is $288.95 and its two-hundred day moving average is $272.80. Apple Inc. has a fifty-two week low of $196.85 and a fifty-two week high of $317.40. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.06. The company had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.65 EPS. Analysts expect that Apple Inc. will post 8.75 EPS for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a $0.27 dividend. The ex-dividend date was Monday, May 11th. This is an increase from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. Apple’s payout ratio is 13.06%.

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.