Elevation Point Wealth Partners LLC Raises Holdings in Apple Inc. $AAPL

Elevation Point Wealth Partners LLC increased its holdings in Apple Inc. (NASDAQ:AAPL) by 136.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 590,038 shares of the iPhone maker’s stock after purchasing an additional 340,950 shares during the period. Apple makes up 3.5% of Elevation Point Wealth Partners LLC’s portfolio, making the stock its biggest position. Elevation Point Wealth Partners LLC’s holdings in Apple were worth $149,746,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lifetime Wealth Management P.C. acquired a new stake in shares of Apple in the 4th quarter valued at $41,000. ROSS JOHNSON & Associates LLC increased its position in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares in the last quarter. LSV Asset Management acquired a new stake in shares of Apple during the 4th quarter worth about $65,000. Timmons Wealth Management LLC bought a new position in Apple during the 4th quarter valued at about $69,000. Finally, 49 Wealth Management LLC boosted its position 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 in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Kevan Parekh sold 1,534 shares of the firm’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the sale, the chief financial officer owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ben Borders sold 116 shares of the stock in a transaction dated Tuesday, June 16th. The stock was 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 of the company’s stock, valued at $11,425,754.82. This trade represents a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 2,924 shares of company stock valued at $825,546. 0.06% of the stock is owned by corporate insiders.

Apple Stock Down 0.8%

Shares of NASDAQ:AAPL opened at $314.86 on Wednesday. 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 cap of $4.62 trillion, a price-to-earnings ratio of 38.07, a P/E/G ratio of 2.76 and a beta of 1.10. The company has a 50 day moving average of $301.09 and a 200-day moving average of $275.89. Apple Inc. has a one year low of $201.50 and a one year high of $323.45.

Apple (NASDAQ:AAPL) last issued its 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. The firm had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.65 earnings per share. On average, sell-side analysts forecast that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

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

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Citi raised its price target on Apple to $365 and kept a Buy rating, arguing the company can keep gaining market share and may benefit from premium iPhone pricing and Apple Intelligence upside. Article Title
• Positive Sentiment: Apple continues to show strong smartphone performance, including record Q2 market share in China and reports that it has outperformed the broader smartphone slump, which supports the case for resilient demand. Article Title
• Positive Sentiment: Investors are also focusing on potential future catalysts such as a possible iPhone price increase and new product cycles, including foldable iPhone plans and AI-focused chip development. Article Title
• Neutral Sentiment: Apple’s lawsuit against OpenAI is keeping the stock in the headlines; it could protect Apple’s intellectual property and slow a competitor’s hardware push, but it also adds legal uncertainty. Article Title
• Neutral Sentiment: Broadcom’s multiyear chip agreement was described as strategically positive for Apple’s AI silicon efforts, but it is more of a longer-term support story than a direct near-term stock mover. Article Title
• Negative Sentiment: KeyBanc’s downgrade and related bearish commentary from other firms are the clearest reasons Apple stock is lower, with analysts warning that slowing iPhone upgrades and softer Services growth could limit further upside. Article Title

Analyst Ratings Changes

AAPL has been the topic of several research analyst reports. TD Cowen upped their price objective on shares of Apple from $335.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. BNP Paribas Exane raised Apple from a “neutral” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Friday, April 17th. Morgan Stanley restated an “overweight” rating on shares of Apple in a research report on Friday, June 26th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Apple in a research report on Monday, June 8th. Finally, Tigress Financial reissued a “strong-buy” rating and set a $375.00 price target (up from $305.00) on shares of Apple in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $313.11.

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.