Root Financial Partners LLC Increases Stock Position in Apple Inc. $AAPL

Root Financial Partners LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,545 shares of the iPhone maker’s stock after purchasing an additional 2,416 shares during the quarter. Apple makes up approximately 1.6% of Root Financial Partners LLC’s portfolio, making the stock its 16th largest holding. Root Financial Partners LLC’s holdings in Apple were worth $33,892,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Reyes Financial Architecture Inc. lifted its position in shares of Apple by 0.4% in the third 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 increased 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 purchasing an additional 39 shares in the last quarter. Interactive Financial Advisors Inc. raised its stake in Apple by 4.0% in the 4th quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock valued at $286,000 after purchasing an additional 40 shares during the last quarter. Sugar Maple Asset Management LLC raised its stake in Apple by 2.0% in the 1st quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker’s stock valued at $515,000 after purchasing an additional 40 shares during the last quarter. Finally, Orion Investment Co lifted its holdings in Apple by 0.3% in the 4th quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker’s stock valued at $3,902,000 after purchasing an additional 41 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s new lawsuit against OpenAI could help protect its hardware roadmap and reinforce its control over proprietary technology, which may support its long-term competitive position. Reuters: Apple sues OpenAI, two former employees for trade secrets theft
• Positive Sentiment: Recent headlines around Apple’s expanded multi-year chip deal with Broadcom continue to boost sentiment, since the agreement strengthens Apple’s supply chain, supports U.S. manufacturing, and deepens its custom silicon strategy. Yahoo Finance: Apple Secures Largest Ever US Chip Deal With Broadcom For $30 Billion
• Neutral Sentiment: Apple was also named among approved U.S. companies eligible for license-free exports under eased UAE trade rules, which is supportive for international operations but not clearly a near-term stock catalyst. Quiver Quant: U.S. eases export controls on UAE
• Neutral Sentiment: Short-interest data showed no meaningful change, suggesting today’s move is being driven more by news flow than by a shift in bearish positioning.
• Negative Sentiment: The OpenAI lawsuit also highlights that Apple’s relationship with a major AI player has soured, adding uncertainty around future AI partnerships and potentially distracting management with litigation. Financial Times: Apple sues OpenAI, alleging it stole top-secret information

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. DA Davidson reiterated a “neutral” rating and set a $270.00 price target on shares of Apple in a report on Friday, May 1st. Jefferies Financial Group reissued a “hold” rating on shares of Apple in a research note on Tuesday, June 9th. BNP Paribas Exane upgraded shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 target price on the stock in a research report on Friday, April 17th. Barclays reaffirmed an “underweight” rating on shares of Apple in a research note on Tuesday, June 9th. Finally, KGI Securities downgraded Apple from an “outperform” rating to a “hold” rating and set a $315.00 price target for the company. in a report on Monday, June 22nd. 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 data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $314.85.

Insiders Place Their Bets

In other Apple news, insider Ben Borders sold 116 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 company’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the sale, the chief financial officer owned 13,366 shares of the company’s stock, valued at $3,675,650. This represents a 10.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,924 shares of company stock valued at $825,546. Insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL opened at $315.32 on Monday. Apple Inc. has a 1 year low of $201.50 and a 1 year high of $317.40. The company’s 50 day simple moving average is $299.55 and its 200 day simple moving average is $275.29. The stock has a market capitalization of $4.63 trillion, a PE ratio of 38.13, a P/E/G ratio of 2.74 and a beta of 1.10. 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 (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. The firm had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. Apple’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.65 earnings per share. As a group, sell-side analysts expect that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. Apple’s payout ratio is currently 13.06%.

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.