Integrity Wealth Partners LLC Takes Position in Apple Inc. $AAPL

Integrity Wealth Partners LLC purchased a new position in Apple Inc. (NASDAQ:AAPL) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 28,363 shares of the iPhone maker’s stock, valued at approximately $7,198,000. Apple makes up 6.5% of Integrity Wealth Partners LLC’s portfolio, making the stock its 3rd biggest holding.

Several other hedge funds have also bought and sold shares of AAPL. Lifetime Wealth Management P.C. purchased a new stake in shares of Apple in the 4th quarter worth approximately $41,000. ROSS JOHNSON & Associates LLC increased its holdings in Apple by 1,800.0% in the 1st 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. Timmons Wealth Management LLC bought a new position in Apple during the fourth quarter valued at approximately $69,000. LSV Asset Management bought a new position in shares of Apple during the 4th quarter valued at $65,000. Finally, Inspire Investing LLC purchased a new position in Apple in the fourth quarter worth about $76,000. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AAPL shares. Evercore restated an “outperform” rating on shares of Apple in a research note on Wednesday, July 8th. UBS Group set a $250.00 price target on shares of Apple in a report on Tuesday. Wedbush reiterated an “outperform” rating and set a $400.00 price objective on shares of Apple in a research report on Friday, June 5th. Robert W. Baird set a $310.00 price objective on shares of Apple in a research note on Friday, May 1st. Finally, Monness Crespi & Hardt boosted their target price on Apple from $315.00 to $335.00 and gave the company a “buy” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average price target of $314.26.

More Apple News

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 stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the sale, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ben Borders sold 1,274 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the transaction, the insider directly owned 38,713 shares of the company’s stock, valued at $11,226,770. The trade was a 3.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,924 shares of company stock worth $825,546 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

NASDAQ AAPL opened at $327.50 on Thursday. Apple Inc. has a 52-week low of $201.50 and a 52-week high of $328.73. The firm’s 50 day moving average price is $301.89 and its 200-day moving average price is $276.27. The company has a market cap of $4.81 trillion, a PE ratio of 39.60, a P/E/G ratio of 2.74 and a beta of 1.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. The firm had revenue of $111.18 billion during 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 for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 EPS. Sell-side analysts forecast that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, May 11th. This is a boost from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. Apple’s payout ratio is currently 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.