SB Capital Management Inc Invests $2.16 Million in Apple Inc. $AAPL

SB Capital Management Inc acquired a new stake in Apple Inc. (NASDAQ:AAPL) in the 4th quarter, Holdings Channel.com reports. The fund acquired 7,941 shares of the iPhone maker’s stock, valued at approximately $2,159,000. Apple makes up 0.8% of SB Capital Management Inc’s portfolio, making the stock its 29th biggest position.

Other hedge funds have also added to or reduced their stakes in the company. Reyes Financial Architecture Inc. increased its holdings in Apple by 0.4% in the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock valued at $2,520,000 after purchasing an additional 37 shares during the period. WESPAC Advisors LLC lifted its holdings in Apple by 0.3% during the 4th quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker’s stock worth $3,351,000 after buying an additional 39 shares during the period. Interactive Financial Advisors Inc. grew its position in shares of Apple by 4.0% in the 4th quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock valued at $286,000 after buying an additional 40 shares during the last quarter. Orion Investment Co grew its position in shares of Apple by 0.3% in the 4th quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker’s stock valued at $3,902,000 after buying an additional 41 shares during the last quarter. Finally, Seven Springs Wealth Group LLC increased its stake in shares of Apple by 0.3% in the third quarter. Seven Springs Wealth Group LLC now owns 15,451 shares of the iPhone maker’s stock valued at $3,934,000 after buying an additional 42 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on AAPL. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $310.00 price objective (up from $300.00) on shares of Apple in a research note on Friday, May 1st. Rosenblatt Securities reissued a “neutral” rating and set a $276.00 target price on shares of Apple in a research report on Tuesday, June 9th. Robert W. Baird set a $310.00 price target on shares of Apple in a report on Friday, May 1st. Evercore restated an “outperform” rating on shares of Apple in a research report on Monday, June 8th. Finally, UBS Group reiterated a “buy” rating on shares of Apple in a research report on Tuesday, June 9th. One investment 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.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.59.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s planned price increases could protect margins as memory and storage costs rise, and Bank of America reiterated a Buy rating with a $380 target, citing Apple’s pricing power and supply-chain strength. Article Title
• Positive Sentiment: Reports of upcoming AI-focused devices and a second-generation iPhone Air support confidence in Apple’s product pipeline and longer-term growth story. Article Title
• Neutral Sentiment: Apple’s planned price hikes may help earnings, but they could also pressure demand if consumers balk at higher handset prices. Article Title
• Neutral Sentiment: Apple opening Brazil’s App Store to alternative marketplaces reduces regulatory friction there, but it also underscores ongoing global platform scrutiny. Article Title

Apple Stock Performance

NASDAQ:AAPL opened at $298.01 on Friday. 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 Inc. has a twelve month low of $196.85 and a twelve month high of $317.40. The company has a fifty day moving average of $289.73 and a 200-day moving average of $272.98. The firm has a market capitalization of $4.38 trillion, a P/E ratio of 36.04, a P/E/G ratio of 2.59 and a beta of 1.09.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.06. The business had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. Apple’s revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.65 earnings per share. As a group, sell-side analysts anticipate that Apple Inc. will post 8.75 EPS for the current year.

Apple Increases Dividend

The business also recently disclosed 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. This is a boost from Apple’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s payout ratio is currently 13.06%.

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 64,949 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 3,280,418 shares in the company, valued at approximately $833,980,668.14. This represents a 1.94% decrease in their ownership of the stock. The sale 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, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction that occurred 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 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 have sold 97,875 shares of company stock valued at $24,998,541. 0.06% of the stock is currently owned by corporate 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.