Apple Inc. $AAPL Stake Increased by Pursue Wealth Partners LLC

Pursue Wealth Partners LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 58.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 31,467 shares of the iPhone maker’s stock after purchasing an additional 11,623 shares during the period. Apple makes up 4.2% of Pursue Wealth Partners LLC’s portfolio, making the stock its 5th biggest position. Pursue Wealth Partners LLC’s holdings in Apple were worth $8,555,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Apple during the second quarter valued at approximately $38,942,255,000. Nuveen LLC acquired a new stake in Apple in the first quarter valued at approximately $17,472,482,000. Laurel Wealth Advisors LLC boosted its stake in Apple by 20,464.8% in the second 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. Northern Trust Corp boosted its stake in Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after acquiring an additional 20,079,472 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Apple by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock valued at $26,220,566,000 after acquiring an additional 13,137,968 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Up 2.0%

Shares of NASDAQ AAPL opened at $293.25 on Friday. Apple Inc. has a 12-month low of $193.46 and a 12-month high of $294.76. The stock has a market cap of $4.31 trillion, a PE ratio of 35.46, a P/E/G ratio of 2.50 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. The company has a 50-day moving average of $261.85 and a 200 day moving average of $266.04.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data 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 net margin of 27.15% and a return on equity of 146.69%. The company had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. During the same quarter in the prior year, the company earned $1.65 EPS. Apple’s revenue was up 16.6% compared to the same quarter last year. As a group, sell-side analysts predict that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Monday, May 11th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. Apple’s dividend payout ratio (DPR) is presently 12.58%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AAPL. Wedbush reiterated an “outperform” rating and set a $400.00 price objective (up from $350.00) on shares of Apple in a research note on Friday. JPMorgan Chase & Co. lifted their price objective on shares of Apple from $315.00 to $325.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Monness Crespi & Hardt boosted their target price on shares of Apple from $315.00 to $335.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. KeyCorp reissued a “sector weight” rating on shares of Apple in a research note on Thursday, March 12th. Finally, Stifel Nicolaus set a $330.00 target price on shares of Apple in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $305.74.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Wedbush lifted Apple’s price target to $400 and said AI could drive a major growth wave for AAPL. Apple price target boosted by Wedbush on AI monetization expectations
• Positive Sentiment: Reports that Apple reached a preliminary chip-making deal with Intel boosted confidence in Apple’s manufacturing strategy and supply chain flexibility. Apple, Intel Have Reached Preliminary Chip-Making Agreement
• Positive Sentiment: Analysts see WWDC as a potential inflection point, with upcoming AI-related software features seen as a possible catalyst for Apple’s next leg higher. Apple’s biggest bull is now calling for a 37% stock jump
• Neutral Sentiment: Apple remains near its recent highs after strong quarterly results, keeping investor expectations elevated ahead of the next catalyst. Dow Jones Futures: Market At Highs With Iran, Trump-Xi Summit In Focus; Apple, Nvidia, Boeing In Buy Areas
• Negative Sentiment: Apple also faces ongoing legal and regulatory noise, including a Siri settlement and App Store antitrust disputes, which could weigh on sentiment if they escalate. Apple promised a smarter Siri, but a lawsuit says it didn’t deliver—and you can get up to $95 back

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O’brien sold 30,002 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total value of $7,661,010.70. Following the transaction, the senior vice president directly owned 136,810 shares in the company, valued at $34,934,433.50. The trade was a 17.99% decrease in their position. The transaction 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, 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 transaction, the chief financial officer owned 13,366 shares in the company, valued at $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 96,485 shares of company stock worth $24,594,845 in the last ninety days. 0.06% of the stock is owned by insiders.

Apple 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.