Rockport Wealth LLC Has $27.50 Million Holdings in Apple Inc. $AAPL

Rockport Wealth LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 38.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,410 shares of the iPhone maker’s stock after purchasing an additional 30,058 shares during the quarter. Apple comprises approximately 5.0% of Rockport Wealth LLC’s investment portfolio, making the stock its 4th biggest holding. Rockport Wealth LLC’s holdings in Apple were worth $27,505,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Reyes Financial Architecture Inc. raised its stake in Apple by 0.4% during the 3rd quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock valued at $2,520,000 after acquiring an additional 37 shares in the last quarter. WESPAC Advisors LLC boosted its position in Apple by 0.3% during the 4th quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker’s stock worth $3,351,000 after acquiring an additional 39 shares during the period. Interactive Financial Advisors Inc. boosted its position in Apple by 4.0% during the 4th quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock worth $286,000 after acquiring an additional 40 shares during the period. Sugar Maple Asset Management LLC grew its stake in shares of Apple by 2.0% in the first quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker’s stock worth $515,000 after purchasing an additional 40 shares in the last quarter. Finally, Orion Investment Co grew its stake in shares of Apple by 0.3% in the fourth quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker’s stock worth $3,902,000 after purchasing an additional 41 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In other news, insider Ben Borders sold 1,274 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the transaction, the insider owned 38,713 shares in the company, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AAPL. Royal Bank Of Canada set a $365.00 price objective on shares of Apple in a research note on Wednesday, July 15th. BNP Paribas Exane upgraded shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 target price for the company in a research report on Friday, April 17th. The Goldman Sachs Group reiterated a “buy” rating and issued a $360.00 target price (down from $370.00) on shares of Apple in a research report on Friday. UBS Group reissued a “neutral” rating on shares of Apple in a research note on Friday. Finally, TD Cowen boosted their price target on shares of Apple from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $331.60.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple reported record June-quarter revenue of $109.4 billion, up 16.4% year over year, and diluted EPS of $2.02, exceeding Wall Street expectations. iPhone revenue rose 22% to $54.3 billion, while Mac revenue increased 29% to $10.4 billion. Apple reports third quarter results
• Positive Sentiment: Apple’s large installed base, strong hardware demand and potential consumer-AI opportunities remain long-term supports. Some analysts remain bullish: TD Cowen raised its price target to $400, while other firms maintained Buy or Overweight ratings despite trimming estimates. Analyst raises Apple price target
• Positive Sentiment: The company declared a quarterly dividend of $0.27 per share, payable August 13 to shareholders of record August 10. Apple also continues to emphasize an AI strategy that requires less capital spending than the infrastructure-heavy approach used by some peers. Apple Q3 financial results

Apple Trading Down 7.4%

Shares of Apple stock opened at $308.91 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The firm has a market cap of $4.54 trillion, a price-to-earnings ratio of 35.43, a price-to-earnings-growth ratio of 2.88 and a beta of 1.10. The business has a fifty day simple moving average of $309.51 and a 200-day simple moving average of $281.45. Apple Inc. has a fifty-two week low of $201.50 and a fifty-two week high of $344.57.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.13. The business had revenue of $109.42 billion during the quarter, compared to analysts’ expectations of $109.04 billion. Apple had a return on equity of 142.29% and a net margin of 27.62%.The company’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the business posted $1.57 earnings per share. On average, equities analysts forecast that Apple Inc. will post 8.76 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, August 10th. Apple’s dividend payout ratio is presently 12.39%.

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.