Apple Inc. $AAPL Shares Acquired by Evolve Private Wealth LLC

Evolve Private Wealth LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 10.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 299,847 shares of the iPhone maker’s stock after buying an additional 29,274 shares during the period. Apple accounts for approximately 4.1% of Evolve Private Wealth LLC’s portfolio, making the stock its 2nd largest holding. Evolve Private Wealth LLC’s holdings in Apple were worth $76,098,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Overbrook Management Corp boosted its holdings in shares of Apple by 57.4% in the 4th quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock valued at $28,449,000 after purchasing an additional 38,174 shares during the last quarter. Torren Management LLC acquired a new stake in shares of Apple during the 4th quarter worth $1,178,000. Adventist Health System Sunbelt Healthcare Corp acquired a new stake in shares of Apple during the 4th quarter worth $105,482,000. KBC Group NV raised its position in shares of Apple by 3.1% in the 4th quarter. KBC Group NV now owns 7,044,697 shares of the iPhone maker’s stock worth $1,915,172,000 after buying an additional 214,215 shares during the period. Finally, Professional Advisory Services Inc. raised its position in shares of Apple by 29.6% in the 4th quarter. Professional Advisory Services Inc. now owns 94,277 shares of the iPhone maker’s stock worth $25,630,000 after buying an additional 21,508 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling

In other news, CEO Timothy D. Cook sold 64,949 shares of Apple stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the sale, the chief executive officer owned 3,280,418 shares in the company, valued at $833,980,668.14. This trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 1,274 shares of the business’s stock in a transaction on Friday, May 8th. The stock was 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 approximately $11,226,770. The trade was a 3.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 97,875 shares of company stock worth $24,998,541 in the last 90 days. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research report on Tuesday, June 9th. TD Cowen raised their price objective on Apple from $335.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Bank of America restated a “buy” rating and issued a $380.00 price objective on shares of Apple in a report on Thursday, June 18th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Apple in a research note on Tuesday, June 9th. Finally, Evercore reissued an “outperform” rating on shares of Apple in a research report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $314.85.

Apple Stock Down 6.1%

Shares of NASDAQ AAPL opened at $275.15 on Friday. Apple Inc. has a 12-month low of $199.26 and a 12-month high of $317.40. The company has a market cap of $4.04 trillion, a P/E ratio of 33.27, a P/E/G ratio of 2.55 and a beta of 1.09. 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 stock has a fifty day moving average price of $292.16 and a 200 day moving average price of $273.12.

Apple (NASDAQ:AAPL) last released its quarterly earnings data 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 company had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm’s revenue was up 16.6% compared to the same quarter last year. During the same period last year, the company posted $1.65 earnings per share. Research analysts anticipate that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. This is an increase from Apple’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. Apple’s payout ratio is 13.06%.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Some analysts say the price hikes could help Apple protect margins by passing through rising component costs, and long-term bulls still view the company as financially strong. Article Title
• Neutral Sentiment: Apple’s AI strategy remains a work in progress, with some coverage saying the company’s AI upgrade likely will not be a major near-term catalyst for the stock. Article Title
• Negative Sentiment: Apple’s decision to raise Mac and iPad prices has sparked concern about weaker demand and “demand friction,” especially if consumers push back on higher-priced devices. Article Title
• Negative Sentiment: Broader market weakness and a tech selloff added pressure, with Apple leading the downside among major technology names. Article Title

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.