Apple Inc. $AAPL Position Decreased by Pasadena Private Wealth LLC

Pasadena Private Wealth LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,167 shares of the iPhone maker’s stock after selling 2,685 shares during the period. Apple makes up approximately 2.5% of Pasadena Private Wealth LLC’s portfolio, making the stock its 10th largest position. Pasadena Private Wealth LLC’s holdings in Apple were worth $17,808,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Lifetime Wealth Management P.C. purchased a new stake in shares of Apple in the fourth quarter valued at approximately $41,000. ROSS JOHNSON & Associates LLC grew its holdings in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares during the period. Timmons Wealth Management LLC purchased a new position in Apple in the fourth quarter worth $69,000. LSV Asset Management purchased a new position in Apple in the fourth quarter worth $65,000. Finally, Inspire Investing LLC acquired a new stake in Apple in the fourth quarter valued at $76,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Transactions at Apple

In other news, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the transaction, the chief financial officer owned 13,366 shares of the company’s stock, valued at $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ben Borders sold 1,274 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the transaction, the insider directly owned 38,713 shares in the company, valued at $11,226,770. The trade was a 3.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 2,924 shares of company stock worth $825,546. 0.06% of the stock is owned by insiders.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: J.P. Morgan reportedly raised its price target on Apple, reinforcing bullish expectations heading into fiscal Q3 earnings and signaling confidence in Apple’s growth and margins. J.P. Morgan Lifts Apple Stock (AAPL) Price Target Ahead of Q3 Earnings
• Positive Sentiment: Apple’s extended chip partnership with Broadcom through 2031 strengthens its AI and connectivity supply chain, improving visibility for future products and supporting sentiment around Apple’s long-term execution. Broadcom, Apple extend chip partnership through 2031
• Positive Sentiment: Several reports say investors are warming to Apple’s “cheap AI” strategy, with attention shifting to Macs, Siri, and other ecosystem features rather than just the iPhone, which could create new upside drivers. Why Investors Fell Back In Love With Apple’s Cheap AI Strategy
• Positive Sentiment: Analysts said Apple should be able to weather hardware price increases because demand remains resilient, suggesting consumers may be less price-sensitive than feared. Apple Sales Seen Weathering Hardware Price Increases

Apple Price Performance

Shares of NASDAQ:AAPL opened at $310.66 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The business’s fifty day moving average price is $296.83 and its two-hundred day moving average price is $274.38. The stock has a market cap of $4.56 trillion, a PE ratio of 37.56, a price-to-earnings-growth ratio of 2.72 and a beta of 1.10. Apple Inc. has a one year low of $201.50 and a one year high of $317.40.

Apple (NASDAQ:AAPL) last issued 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. The business had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business’s revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.65 earnings per share. On average, analysts forecast 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 was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a $0.27 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple’s payout ratio is currently 13.06%.

Analyst Ratings Changes

A number of research firms have recently weighed in on AAPL. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research note on Tuesday, June 9th. Maxim Group reiterated a “buy” rating and issued a $350.00 price objective (up from $310.00) on shares of Apple in a research note on Tuesday, June 9th. Robert W. Baird set a $310.00 price objective on shares of Apple in a report on Friday, May 1st. Oppenheimer restated a “market perform” rating on shares of Apple in a research report on Tuesday, June 9th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Apple in a report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $314.85.

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.