Quotient Wealth Partners LLC Has $22.97 Million Stock Position in Apple Inc. $AAPL

Quotient Wealth Partners LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 11.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,509 shares of the iPhone maker’s stock after acquiring an additional 8,942 shares during the quarter. Apple comprises approximately 0.6% of Quotient Wealth Partners LLC’s holdings, making the stock its 23rd largest holding. Quotient Wealth Partners LLC’s holdings in Apple were worth $22,970,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Apple in the fourth quarter valued at about $52,266,468,000. Nuveen LLC bought a new position in Apple during the first quarter valued at about $17,472,482,000. Cardano Risk Management B.V. increased its stake in Apple by 890.7% during the fourth quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker’s stock valued at $11,413,990,000 after acquiring an additional 37,746,784 shares during the period. Laurel Wealth Advisors LLC raised its holdings in Apple by 20,464.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock valued at $5,553,753,000 after acquiring an additional 26,937,401 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Apple by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock valued at $387,749,545,000 after acquiring an additional 26,856,752 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AAPL shares. BNP Paribas Exane raised Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price objective on the stock in a report on Friday, April 17th. Monness Crespi & Hardt upped their target price on Apple from $315.00 to $335.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Barclays reaffirmed an “underweight” rating on shares of Apple in a research report on Tuesday, June 9th. The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research note on Monday, March 2nd. Finally, KeyCorp reissued a “sector weight” rating on shares of Apple in a report on Tuesday, June 9th. One 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Apple has a consensus 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: Apple’s new Siri and broader AI reset is being viewed positively by analysts, with BofA reiterating a Buy rating and saying the WWDC update could strengthen Apple’s AI position and support the stock. BofA Says Apple’s (AAPL) New Siri Strategy Could Strengthen its AI Position
• Positive Sentiment: Apple’s reported chip partnership with Intel is being framed as strategically important, with investors focused on supply-chain diversification and a longer-term domestic chip roadmap that could benefit future product cycles. Apple-Intel chip deal makes strategic sense but production is years away
• Positive Sentiment: Several market commentaries say Apple shares are building toward a possible breakout, with the stock staying close to its all-time high and forming a fresh buy zone as momentum improves. Apple Stock Polishing New Buy Zone With All-Time High In Sight
• Neutral Sentiment: Apple is also drawing attention for comments from Eddy Cue about expanding entertainment offerings on Apple TV and in theaters, which supports the long-term services story but is not an immediate earnings catalyst. Apple aims for better and more entertainment offerings, executive Cue says
• Negative Sentiment: Investors are still weighing headwinds from rising memory costs and the possibility of iPhone price increases, which could pressure demand if Apple passes through higher component prices. Apple Price Hike Fears May Be Overblown, Says J.P. Morgan
• Negative Sentiment: Apple also faces legal overhang after a UK tribunal allowed a $4 billion iCloud class-action lawsuit to proceed, adding another potential regulatory and financial risk. Apple supplier Lingyi iTech prices $1.06 billion Hong Kong IPO to tap AI demand

Apple Trading Down 0.4%

Shares of AAPL opened at $293.05 on Thursday. Apple Inc. has a 1 year low of $199.26 and a 1 year high of $317.40. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The stock has a 50 day simple moving average of $291.83 and a 200-day simple moving average of $273.15. The stock has a market cap of $4.30 trillion, a PE ratio of 35.44, a PEG ratio of 2.56 and a beta of 1.09.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating the consensus estimate of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. During the same quarter in the previous year, the firm earned $1.65 EPS. Apple’s quarterly revenue was up 16.6% on a year-over-year basis. On average, sell-side analysts predict that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued 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 0.4%. Apple’s dividend payout ratio (DPR) is 13.06%.

Insider Activity

In related news, SVP Deirdre O’brien sold 30,002 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the completion of the sale, the senior vice president owned 136,810 shares in the company, valued at $34,934,433.50. This trade represents a 17.99% decrease in their position. The sale 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 116 shares of Apple stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the transaction, the insider directly owned 38,713 shares of the company’s stock, valued at $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 have sold a total of 97,875 shares of company stock worth $24,998,541 over the last 90 days. 0.06% of the stock is currently owned by company 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.