Moran Wealth Management LLC lifted its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 10.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 52,920 shares of the iPhone maker’s stock after acquiring an additional 5,174 shares during the period. Moran Wealth Management LLC’s holdings in Apple were worth $13,431,000 as of its most recent SEC filing.
Several other large investors have also 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 boosted its stake in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares in the last quarter. LSV Asset Management bought a new stake in Apple in the fourth quarter valued at about $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 Apple in the fourth quarter valued at $76,000. 67.73% of the stock is owned by institutional investors.
Apple Price Performance
Shares of NASDAQ AAPL opened at $327.50 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The business has a 50-day moving average of $301.89 and a 200-day moving average of $276.27. The stock has a market capitalization of $4.81 trillion, a price-to-earnings ratio of 39.60, a PEG ratio of 2.74 and a beta of 1.10. Apple Inc. has a fifty-two week low of $201.50 and a fifty-two week high of $328.73.
Apple Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a $0.27 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, May 11th. Apple’s dividend payout ratio is currently 13.06%.
Analysts Set New Price Targets
AAPL has been the subject of several recent analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Apple in a report on Monday, June 8th. Morgan Stanley reissued an “overweight” rating on shares of Apple in a report on Friday, June 26th. UBS Group set a $250.00 price target on Apple in a research report on Tuesday. Wells Fargo & Company reissued an “overweight” rating and set a $310.00 price objective (up from $300.00) on shares of Apple in a research note on Friday, May 1st. Finally, BNP Paribas Exane raised Apple from a “neutral” rating to an “outperform” rating and set a $300.00 target price for the company in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.26.
Check Out Our Latest Stock Analysis on AAPL
Key Headlines Impacting Apple
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
Insiders Place Their Bets
In related news, insider Ben Borders sold 116 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the sale, the insider owned 38,713 shares in the company, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the sale, the chief financial officer owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. This represents a 10.30% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 2,924 shares of company stock worth $825,546. 0.06% of the stock is owned by company 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.
See Also
- Five stocks we like better than Apple
- Why Johnson & Johnson’s Earnings Dip Looks Like a Buying Opportunity
- CPI Comes In Cool: Why It Could Revive These 3 Rate-Sensitive Stocks
- Why ASML’s AI Monopoly Is Still Getting Stronger
- Apple’s AI Toll Booth Thesis Faces Its Biggest Test Yet Before Earnings
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Free Report).
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.
