WealthTrust Asset Management LLC Purchases 4,859 Shares of Apple Inc. $AAPL

WealthTrust Asset Management LLC grew its position in shares of Apple Inc. (NASDAQ:AAPL) by 55.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,556 shares of the iPhone maker’s stock after purchasing an additional 4,859 shares during the quarter. Apple makes up about 2.1% of WealthTrust Asset Management LLC’s portfolio, making the stock its 10th biggest holding. WealthTrust Asset Management LLC’s holdings in Apple were worth $3,440,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Apple during the 4th quarter worth about $52,266,468,000. Nuveen LLC acquired a new stake in shares of Apple during the 1st quarter valued at about $17,472,482,000. Cardano Risk Management B.V. increased its stake in shares of Apple by 890.7% in the 4th quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker’s stock valued at $11,413,990,000 after purchasing an additional 37,746,784 shares in the last quarter. Laurel Wealth Advisors LLC increased its stake in shares of Apple by 20,464.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock valued at $5,553,753,000 after purchasing an additional 26,937,401 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Apple by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock worth $387,749,545,000 after purchasing an additional 26,856,752 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: India proposed extending tax exemptions through 2041 for foreign companies supplying equipment to contract manufacturers. The policy could lower Apple’s manufacturing costs and support its strategy of shifting more iPhone production to India. India proposes extending tax breaks for contract manufacturing in a boost for Apple
• Positive Sentiment: Apple continues to generate substantial free cash flow, with analysts expecting strong cash generation to continue alongside higher revenue forecasts. This supports shareholder returns and provides financial flexibility, although the stock’s valuation limits the upside case. Apple Delivers Strong Free Cash Flow, But What is the Best AAPL Play?
• Positive Sentiment: A reported deal with PlasmaSolve could help Apple develop thinner, stronger device finishes by using software simulations before factory testing, potentially improving manufacturing yields and reducing testing costs. Apple Stock Drops as PlasmaSolve Deal Targets Thinner and Stronger Devices

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Oppenheimer reiterated a “market perform” rating on shares of Apple in a research report on Friday. Sanford C. Bernstein restated an “outperform” rating on shares of Apple in a research report on Monday, June 8th. Wedbush reaffirmed an “outperform” rating and set a $400.00 target price on shares of Apple in a research note on Friday, June 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Apple in a research report on Wednesday, July 15th. Finally, Citigroup reissued a “buy” rating and issued a $365.00 price target (up from $315.00) on shares of Apple in a research note on Monday, July 13th. 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $331.60.

Apple Price Performance

Apple stock opened at $303.42 on Tuesday. The company has a fifty day simple moving average of $309.40 and a 200-day simple moving average of $281.90. The firm has a market capitalization of $4.46 trillion, a price-to-earnings ratio of 34.80, a PEG ratio of 2.65 and a beta of 1.09. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Apple Inc. has a 52-week low of $201.68 and a 52-week high of $344.57.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.13. The firm had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period last year, the firm posted $1.57 earnings per share. On average, equities analysts anticipate that Apple Inc. will post 8.8 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be issued a $0.27 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio is presently 12.39%.

Insiders Place Their Bets

In other Apple news, insider Ben Borders sold 1,274 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the transaction, the insider directly owned 38,713 shares of the company’s stock, valued at $11,226,770. This trade represents a 3.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is owned by company insiders.

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.