Apple Inc. $AAPL is Intrua Financial LLC’s 10th Largest Position

Intrua Financial LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 6.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 69,034 shares of the iPhone maker’s stock after selling 4,807 shares during the period. Apple makes up about 1.8% of Intrua Financial LLC’s portfolio, making the stock its 10th biggest holding. Intrua Financial LLC’s holdings in Apple were worth $17,520,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Lifetime Wealth Management P.C. purchased a new position in Apple during the fourth quarter worth $41,000. ROSS JOHNSON & Associates LLC increased its position in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares during the last quarter. LSV Asset Management purchased a new stake in shares of Apple in the fourth quarter valued at $65,000. Timmons Wealth Management LLC bought a new stake in shares of Apple in the 4th quarter worth about $69,000. Finally, 49 Wealth Management LLC lifted its holdings in shares of Apple by 15.7% in the 3rd quarter. 49 Wealth Management LLC now owns 298,920 shares of the iPhone maker’s stock worth $76,000 after acquiring an additional 40,543 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other news, insider Ben Borders sold 116 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the transaction, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer owned 13,366 shares in the company, valued at approximately $3,675,650. This represents a 10.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,924 shares of company stock valued at $825,546 over the last quarter. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $316.16 on Friday. The firm’s 50 day simple moving average is $298.65 and its 200-day simple moving average is $274.97. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. Apple Inc. has a one year low of $201.50 and a one year high of $317.40. The firm has a market cap of $4.64 trillion, a PE ratio of 38.23, a price-to-earnings-growth ratio of 2.73 and a beta of 1.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. During the same quarter in the previous year, the business earned $1.65 earnings per share. Apple’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, equities analysts predict that Apple Inc. will post 8.74 EPS for the current 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. The ex-dividend date was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. This is a positive change from Apple’s previous quarterly dividend of $0.26. Apple’s dividend payout ratio (DPR) is currently 13.06%.

Wall Street Analyst Weigh In

AAPL has been the topic of several analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a report on Tuesday, June 9th. Tigress Financial reissued a “strong-buy” rating and issued a $375.00 price objective (up from $305.00) on shares of Apple in a research note on Thursday, May 14th. TD Cowen boosted their target price on Apple from $335.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. UBS Group reaffirmed a “buy” rating on shares of Apple in a research note on Tuesday, June 9th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Apple in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $314.85.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple announced a multiyear partnership with Broadcom worth more than $30 billion to design and produce U.S.-made custom silicon and wireless chips, its largest domestic manufacturing commitment to date. The deal improves supply-chain resiliency and supports future product cycles. Article Title
• Positive Sentiment: JPMorgan said Apple’s recent price increases for Mac and iPad, and any possible iPhone hikes, are unlikely to significantly hurt demand, and it raised its price target while reiterating a Buy rating. Article Title
• Positive Sentiment: UBS said App Store data points to roughly 3% growth in Apple’s June quarter, signaling that services revenue remains resilient even as U.S. revenue softens somewhat. Article Title
• Neutral Sentiment: Several pieces framed Apple as a potential leader in a broader “Magnificent Seven” rebound, but these were mostly market commentary rather than company-specific catalysts. Article Title
• Negative Sentiment: An EU court rejected Apple’s challenge to Digital Markets Act gatekeeper rules, leaving the company exposed to tighter App Store and iOS antitrust obligations in Europe. Article Title
• Negative Sentiment: Hedgeye reportedly added Apple as a new short idea, which may be adding some caution around the stock’s near-term valuation after a strong run. Article Title

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.