SWP Financial LLC Has $9.01 Million Position in Apple Inc. $AAPL

SWP Financial LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 8.6% in the first quarter, Holdings Channel reports. The institutional investor owned 35,509 shares of the iPhone maker’s stock after selling 3,348 shares during the period. Apple comprises about 4.6% of SWP Financial LLC’s portfolio, making the stock its 5th biggest holding. SWP Financial LLC’s holdings in Apple were worth $9,012,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AAPL. Overbrook Management Corp lifted its holdings in Apple by 57.4% in the 4th quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock worth $28,449,000 after purchasing an additional 38,174 shares in the last quarter. Torren Management LLC purchased a new position in shares of Apple during the fourth quarter valued at approximately $1,178,000. Adventist Health System Sunbelt Healthcare Corp purchased a new position in Apple during the 4th quarter valued at $105,482,000. KBC Group NV increased its stake in Apple by 3.1% in the 4th quarter. KBC Group NV now owns 7,044,697 shares of the iPhone maker’s stock worth $1,915,172,000 after buying an additional 214,215 shares during the period. Finally, Professional Advisory Services Inc. lifted its holdings in Apple by 29.6% during the 4th quarter. Professional Advisory Services Inc. now owns 94,277 shares of the iPhone maker’s stock valued at $25,630,000 after buying an additional 21,508 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on AAPL. TD Cowen boosted their price objective on shares of Apple from $335.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. KGI Securities downgraded shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 price target for the company. in a research note on Monday, June 22nd. Oppenheimer reiterated a “market perform” rating on shares of Apple in a report on Tuesday, June 9th. Stifel Nicolaus set a $330.00 price objective on Apple in a research note on Monday, March 2nd. Finally, KeyCorp restated a “sector weight” rating on shares of Apple in a report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.85.

Apple Stock Up 3.3%

Apple stock opened at $284.29 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The stock has a market capitalization of $4.18 trillion, a price-to-earnings ratio of 34.38, a PEG ratio of 2.47 and a beta of 1.09. Apple Inc. has a 1-year low of $199.26 and a 1-year high of $317.40. The business has a fifty day moving average price of $292.51 and a 200-day moving average price of $273.20.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (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 company had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. During the same period in the prior year, the company posted $1.65 EPS. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. Equities research analysts forecast that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This is a positive change 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 payout ratio is presently 13.06%.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 64,949 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total value of $16,511,984.27. Following the completion of the transaction, the chief executive officer directly owned 3,280,418 shares of the company’s stock, valued at $833,980,668.14. This trade represents a 1.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Deirdre O’brien sold 30,002 shares of Apple stock in a transaction that occurred on Thursday, April 2nd. The stock was 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 of the company’s stock, valued at $34,934,433.50. This trade represents a 17.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 97,875 shares of company stock worth $24,998,541. 0.06% of the stock is owned by insiders.

Key Apple News

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 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.