Breachway Investments LLC Acquires New Position in Apple Inc. $AAPL

Breachway Investments LLC acquired a new stake in Apple Inc. (NASDAQ:AAPL) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 8,886 shares of the iPhone maker’s stock, valued at approximately $2,416,000. Apple accounts for 2.5% of Breachway Investments LLC’s portfolio, making the stock its 10th biggest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. First National Bank of Hutchinson lifted its position in shares of Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after acquiring an additional 6,982 shares during the period. Eagle Capital Management LLC lifted its position in shares of Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after acquiring an additional 272 shares during the period. Brighton Jones LLC lifted its position in shares of Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after acquiring an additional 69,207 shares during the period. Revolve Wealth Partners LLC raised its stake in shares of Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after buying an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE raised its stake in shares of Apple by 2.4% during the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after buying an additional 1,155 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s post-earnings rally continues after the company posted record quarterly revenue and EPS, boosted its dividend, and authorized a fresh $100 billion buyback. Analysts say the results support further upside and have raised price targets. Apple Stock Hits All-Time High as Post-Earnings Rally Continues
• Positive Sentiment: Evercore ISI lifted its price target on Apple to $365 and said a bull-case scenario could reach $500, citing compounding growth from Services and Apple’s ability to keep expanding free cash flow. Evercore ISI Hikes Apple Price Target to $365
• Positive Sentiment: Investor sentiment is being helped by reports that iPhone demand remains strong globally, plus Soros Fund Management reportedly boosted its Apple position during the quarter. George Soros’s fund buys Berkshire Hathaway stock — now that Buffett is gone
• Positive Sentiment: Apple reportedly cut iPhone 17 prices in China ahead of the 618 shopping festival, which could help support unit sales in a key market. Apple Cuts iPhone 17 Prices in China
• Neutral Sentiment: OpenAI is considering legal action over its strained ChatGPT partnership with Apple, which adds uncertainty around Apple’s AI strategy and could weigh on sentiment if the dispute escalates. OpenAI explores legal options against Apple
• Neutral Sentiment: Reports that Anthropic’s Mythos AI found vulnerabilities in Apple’s macOS/iOS are a reminder of ongoing security scrutiny, but the news is more reputational than fundamentally financial for now. Anthropic’s Mythos Helped Find Bugs in Apple’s Desktop Operating System

Apple Stock Performance

Shares of AAPL stock opened at $300.23 on Monday. The firm has a 50-day moving average price of $265.37 and a 200 day moving average price of $267.47. Apple Inc. has a twelve month low of $193.46 and a twelve month high of $303.20. The company has a market capitalization of $4.41 trillion, a price-to-earnings ratio of 36.30, a PEG ratio of 2.61 and a beta of 1.06. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. During the same quarter in the previous year, the company posted $1.65 EPS. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 8.74 earnings per share for the current fiscal 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 paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. Apple’s dividend payout ratio is presently 13.06%.

Analysts Set New Price Targets

AAPL has been the subject of several research reports. BNP Paribas Exane raised Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price target for the company in a research note on Friday, April 17th. Stifel Nicolaus set a $330.00 price target on Apple in a research note on Monday, March 2nd. DA Davidson reaffirmed a “neutral” rating and set a $270.00 price target on shares of Apple in a research note on Friday, May 1st. Bank of America lifted their price target on Apple from $320.00 to $325.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Finally, Scotiabank set a $330.00 price target on Apple in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $308.74.

Insider Activity

In other Apple news, CEO Timothy D. Cook sold 64,949 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total value of $16,511,984.27. Following the completion of the transaction, the chief executive officer directly owned 3,280,418 shares in the company, valued at approximately $833,980,668.14. The trade was a 1.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction on 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 owned 13,366 shares of the company’s stock, valued at $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 97,759 shares of company stock worth $24,964,305. Company insiders own 0.06% of the company’s stock.

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.