Clark Asset Management LLC Increases Position in Apple Inc. $AAPL

Clark Asset Management LLC increased its holdings in Apple Inc. (NASDAQ:AAPL) by 10.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,416 shares of the iPhone maker’s stock after acquiring an additional 10,891 shares during the quarter. Apple comprises about 2.7% of Clark Asset Management LLC’s investment portfolio, making the stock its 9th biggest holding. Clark Asset Management LLC’s holdings in Apple were worth $28,276,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AAPL. Lifetime Wealth Management P.C. purchased a new position in shares of Apple during the fourth quarter valued at approximately $41,000. ROSS JOHNSON & Associates LLC raised its stake in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 180 shares during the last quarter. Timmons Wealth Management LLC purchased a new stake in Apple during the 4th quarter valued at $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 shares of Apple in the 4th quarter worth $76,000. Institutional investors own 67.73% of the company’s stock.

Insider Activity at Apple

In other Apple news, SVP Deirdre O’brien sold 30,002 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total value of $7,661,010.70. Following the transaction, the senior vice president directly owned 136,810 shares in the company, valued at $34,934,433.50. The trade was a 17.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 1,274 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the sale, the insider directly owned 38,713 shares of the company’s stock, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 97,875 shares of company stock valued at $24,998,541. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

AAPL stock opened at $284.29 on Friday. Apple Inc. has a 1-year low of $199.26 and a 1-year high of $317.40. The business has a 50-day moving average price of $292.51 and a 200 day moving average price of $273.20. The company has a market capitalization of $4.18 trillion, a P/E ratio of 34.38, a PEG ratio of 2.39 and a beta of 1.09. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. During the same period in the prior year, the business posted $1.65 EPS. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued 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 boost from Apple’s previous quarterly dividend of $0.26. Apple’s payout ratio is presently 13.06%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AAPL shares. Tigress Financial restated a “strong-buy” rating and set a $375.00 target price (up from $305.00) on shares of Apple in a research note on Thursday, May 14th. Morgan Stanley reissued an “overweight” rating on shares of Apple in a report on Friday. Wells Fargo & Company restated an “overweight” rating and set a $310.00 price objective (up from $300.00) on shares of Apple in a research report on Friday, May 1st. Oppenheimer reaffirmed a “market perform” rating on shares of Apple in a report on Tuesday, June 9th. Finally, Wedbush reissued an “outperform” rating and set a $400.00 price target on shares of Apple in a research note on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $314.85.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Some analysts and traders see the recent decline as overdone, arguing that Apple’s pullback has created an attractive entry point and that the stock is oversold at support. Stock Of The Day: Is The Apple Sell-Off Over?
• Positive Sentiment: Morgan Stanley reiterated a Buy rating on AAPL, saying Apple’s pricing and margin-defense strategy supports upside and leaving its $360 target unchanged. Apple Buy Rating Reiterated as Margin Defense Strategy Supports Upside; $360 Price Target Unchanged
• Neutral Sentiment: Wall Street remains divided on the broader implications of Apple’s recent price hikes, with some analysts saying the company can pass through costs thanks to its loyal customer base, while others warn the iPhone will be the real test. Apple Can Get Away With Mac Price Hikes, but iPhone Is the Real Test
• Negative Sentiment: Apple raised prices on several Mac and iPad models because surging memory and storage chip costs tied to AI demand are squeezing margins, raising concerns that higher prices could hurt demand and signal more pressure ahead. Apple raises prices of MacBooks, iPads as memory costs skyrocket
• Negative Sentiment: Apple also lost a key Vision Pro hardware executive to OpenAI, adding to investor concern about execution in its spatial-computing and AI efforts. Apple (AAPL) Loses Key Vision Pro Hardware Chief to OpenAI in Major Talent Blow

Apple 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.