Apple Inc. $AAPL Stake Increased by Consolidated Portfolio Review Corp

Consolidated Portfolio Review Corp boosted its stake in Apple Inc. (NASDAQ:AAPL) by 14.3% during the 1st quarter, HoldingsChannel reports. The fund owned 31,205 shares of the iPhone maker’s stock after buying an additional 3,900 shares during the period. Apple comprises 0.7% of Consolidated Portfolio Review Corp’s portfolio, making the stock its 18th largest position. Consolidated Portfolio Review Corp’s holdings in Apple were worth $7,920,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in AAPL. First National Bank of Hutchinson increased its holdings in Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after buying an additional 6,982 shares during the last quarter. Eagle Capital Management LLC lifted its holdings in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after buying an additional 272 shares during the last quarter. Brighton Jones LLC lifted its holdings in Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after buying an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after acquiring an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE grew its position in shares of Apple by 2.4% in the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after acquiring an additional 1,155 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AAPL shares. Wedbush reissued an “outperform” rating and set a $400.00 price target on shares of Apple in a research report on Friday, June 5th. DA Davidson reaffirmed a “neutral” rating and issued a $270.00 price objective on shares of Apple in a report on Friday, May 1st. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research note on Tuesday, June 9th. KGI Securities cut shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price on the stock. in a report on Monday, June 22nd. Finally, Maxim Group restated a “buy” rating and issued a $350.00 price target (up from $310.00) 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-two have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.26.

Apple Stock Performance

Shares of AAPL opened at $327.50 on Thursday. The firm has a fifty day moving average of $301.89 and a 200-day moving average of $276.27. The company has a market cap of $4.81 trillion, a price-to-earnings ratio of 39.60, a price-to-earnings-growth 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 Inc. has a 1 year low of $201.50 and a 1 year high of $328.73.

Apple (NASDAQ:AAPL) last released 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. The business had revenue of $111.18 billion for the quarter, compared to analysts’ expectations of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.65 EPS. As a group, equities analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a $0.27 dividend. The ex-dividend date was Monday, May 11th. This is an increase from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. Apple’s dividend payout ratio (DPR) is 13.06%.

Insider Activity at Apple

In related news, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at $3,675,650. This represents a 10.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ben Borders sold 116 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares in the company, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 2,924 shares of company stock worth $825,546 in the last 90 days. 0.06% of the stock is owned by company insiders.

Trending Headlines about Apple

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

Apple Company 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.