TBH Global Asset Management LLC Acquires 31,168 Shares of Apple Inc. $AAPL

TBH Global Asset Management LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 14.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 243,368 shares of the iPhone maker’s stock after purchasing an additional 31,168 shares during the period. Apple accounts for 11.3% of TBH Global Asset Management LLC’s holdings, making the stock its biggest holding. TBH Global Asset Management LLC’s holdings in Apple were worth $66,162,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Isthmus Partners LLC lifted its holdings in Apple by 6.4% in the third quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker’s stock valued at $25,000 after buying an additional 5,808 shares during the period. Sellwood Investment Partners LLC lifted its holdings in Apple by 110.9% in the third quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker’s stock valued at $34,000 after buying an additional 71 shares during the period. ROSS JOHNSON & Associates LLC lifted its holdings in Apple by 1,800.0% in the first 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 period. LSV Asset Management acquired a new position in Apple in the fourth quarter valued at $65,000. Finally, 49 Wealth Management LLC lifted its holdings in Apple by 15.7% in the third quarter. 49 Wealth Management LLC now owns 298,920 shares of the iPhone maker’s stock valued at $76,000 after buying an additional 40,543 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $308.82 on Friday. The firm’s 50-day moving average price is $269.64 and its 200-day moving average price is $268.63. Apple Inc. has a 1-year low of $193.46 and a 1-year high of $311.40. The firm has a market capitalization of $4.54 trillion, a P/E ratio of 37.34, a P/E/G ratio of 2.69 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 quarterly earnings data 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 for the quarter, compared to analyst estimates of $109.46 billion. During the same quarter in the prior year, the business earned $1.65 earnings per share. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. Equities research analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current fiscal 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 issued a dividend of $0.27 per share. 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%. The ex-dividend date was Monday, May 11th. Apple’s dividend payout ratio (DPR) is currently 13.06%.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple continues to be viewed as one of the best long-term large-cap tech names, with reports highlighting strong iPhone demand, its massive installed base, and the potential for Services to drive the next leg of earnings growth. Apple Services story
• Positive Sentiment: Analysts remain constructive: Evercore ISI reiterated an Outperform rating and raised its price target, while other commentary says Apple can keep compounding earnings and free cash flow as it expands AI features and devices. Analyst commentary
• Positive Sentiment: Apple executives saying the company is still in the “early innings” of spatial computing is reinforcing the view that new product categories could support future growth beyond the iPhone. Spatial computing article
• Neutral Sentiment: Apple’s legal fight with Epic Games remains a drag on sentiment, as the company asked the U.S. Supreme Court to review a contempt order tied to App Store fees. Epic lawsuit article
• Negative Sentiment: Some analysts are becoming more cautious on valuation after Apple’s run to new highs, warning the stock may be due for profit-taking. KeyBanc caution article

Analysts Set New Price Targets

AAPL has been the topic of several recent analyst reports. Wedbush restated an “outperform” rating and issued a $400.00 target price (up from $350.00) on shares of Apple in a report on Friday, May 8th. UBS Group set a $296.00 target price on shares of Apple and gave the company a “neutral” rating in a report on Friday, May 1st. Jefferies Financial Group set a $330.00 target price on shares of Apple in a report on Wednesday, March 4th. Monness Crespi & Hardt boosted their target price on shares of Apple from $315.00 to $335.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, Tigress Financial restated a “strong-buy” rating and issued a $375.00 target price (up from $305.00) on shares of Apple in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $308.74.

Insider Activity at Apple

In other news, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the completion of the sale, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ben Borders sold 1,274 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction 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. 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 97,759 shares of company stock worth $24,964,305 over the last three months. 0.06% of the stock is currently owned by company insiders.

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.