High Point Wealth Management LLC Takes Position in Apple Inc. $AAPL

High Point Wealth Management LLC bought a new stake in Apple Inc. (NASDAQ:AAPL) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 1,942 shares of the iPhone maker’s stock, valued at approximately $528,000.

Several other hedge funds have also made changes to their positions in AAPL. Norges Bank bought a new stake in shares of Apple in the second quarter valued at about $38,942,255,000. Nuveen LLC bought a new stake in shares of Apple in the first quarter valued at about $17,472,482,000. Laurel Wealth Advisors LLC lifted its stake in shares of 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 buying an additional 26,937,401 shares during the period. Vanguard Group Inc. lifted its stake in Apple by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock worth $387,749,545,000 after purchasing an additional 26,856,752 shares during the period. Finally, Northern Trust Corp lifted its stake in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the period. Institutional investors own 67.73% of the company’s stock.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is reportedly cutting prices in China ahead of the June 18 “618” shopping holiday, a move that could boost unit sales and help defend market share in a key region, according to Wedbush. Dear Apple Stock Fans, Mark Your Calendars for June 18
• Positive Sentiment: Apple was highlighted as a top-ranked momentum stock by Zacks, reinforcing the idea that the shares continue to attract technical and style-based buying interest. Apple (AAPL) is a Top-Ranked Momentum Stock: Should You Buy?
• Positive Sentiment: Memorial Day tech promotions featuring Apple products may support short-term demand and keep the brand top of mind with consumers during a heavy shopping period. Memorial Day tech sales are live: Save up to 50% off on some of our favorite gadgets at Amazon, Apple, Best Buy and more
• Neutral Sentiment: Several commentary pieces framed Apple as a core mega-cap stock, but they did not introduce new fundamentals that would materially change the near-term outlook. Instead of Chasing Alpha, Here Are 4 Ways to Pick the Low-Hanging Apples
• Neutral Sentiment: Other articles discussed Apple in broader tech or portfolio contexts, including comparisons with Microsoft and ETF exposure, which are more informational than stock-moving on their own. Apple vs. Microsoft: What Their Revenue Trends Reveal for Investors
• Negative Sentiment: Huawei’s new smartphone chip plans add another competitive overhang for Apple, raising concerns about iPhone demand in China and the broader premium-phone market. Huawei unveils new smartphone chips this fall as rivalry with Nvidia and Apple heats up
• Negative Sentiment: A Bloomberg report said Apple’s Watch and health strategy needs a reboot to stay competitive, suggesting wearables remain an area where rivals could gain ground. Apple’s Watch and Health Efforts Need Reboot to Rival New Wearables
• Negative Sentiment: Some opinion pieces argued Apple may eventually lose momentum versus other mega-cap winners, which could weigh on sentiment even though these were long-term speculative takes rather than immediate catalysts. 3 Reasons Apple Will Be Booted From The Magnificent 7 By The End Of 2030

Analysts Set New Price Targets

AAPL has been the subject of a number of analyst reports. Evercore restated an “outperform” rating and set a $365.00 price target on shares of Apple in a research note on Thursday, May 14th. Stifel Nicolaus set a $330.00 price target on shares of Apple in a research note on Monday, March 2nd. Robert W. Baird set a $310.00 price target on shares of Apple in a research note on Friday, May 1st. Sanford C. Bernstein restated an “outperform” rating on shares of Apple in a research note on Wednesday, March 4th. Finally, Bank of America raised their price target on shares of Apple from $320.00 to $325.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $308.74.

Insider Activity at Apple

In other news, SVP Deirdre O’brien sold 30,002 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the completion of the transaction, the senior vice president directly owned 136,810 shares in the company, valued at $34,934,433.50. This represents a 17.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 1,274 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the sale, 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. Over the last 90 days, insiders sold 97,759 shares of company stock valued at $24,964,305. 0.06% of the stock is owned by insiders.

Apple Stock Performance

Shares of Apple stock opened at $308.82 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The firm has a market cap of $4.54 trillion, a P/E ratio of 37.34, a P/E/G ratio of 2.69 and a beta of 1.06. The firm has a 50 day simple moving average of $270.70 and a 200 day simple moving average of $268.90. Apple Inc. has a fifty-two week low of $193.46 and a fifty-two week high of $311.40.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. 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 EPS. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. Sell-side analysts predict that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

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

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.