Sound Income Strategies LLC Buys 1,744 Shares of Apple Inc. $AAPL

Sound Income Strategies LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,151 shares of the iPhone maker’s stock after purchasing an additional 1,744 shares during the quarter. Apple makes up about 1.2% of Sound Income Strategies LLC’s portfolio, making the stock its 16th largest holding. Sound Income Strategies LLC’s holdings in Apple were worth $23,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in AAPL. Overbrook Management Corp raised its stake in shares of Apple by 57.4% during the fourth quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock valued at $28,449,000 after acquiring an additional 38,174 shares during the last quarter. Rainier Family Wealth Inc. grew its stake in shares of Apple by 14.1% in the first quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker’s stock worth $6,189,000 after purchasing an additional 3,014 shares during the last quarter. Torren Management LLC acquired a new stake in Apple in the fourth quarter valued at $1,178,000. Summit Wealth Partners LLC increased its holdings in Apple by 108.3% in the first quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker’s stock valued at $8,880,000 after purchasing an additional 18,188 shares during the period. Finally, Adventist Health System Sunbelt Healthcare Corp bought a new position in Apple during the 4th quarter worth $105,482,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on AAPL shares. Tigress Financial reaffirmed a “strong-buy” rating and set a $375.00 target price (up from $305.00) on shares of Apple in a report on Thursday, May 14th. Evercore restated an “outperform” rating on shares of Apple in a research report on Wednesday, July 8th. Monness Crespi & Hardt lifted their price objective on Apple from $315.00 to $335.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. UBS Group set a $250.00 target price on Apple in a report on Tuesday. Finally, Maxim Group reissued a “buy” rating and set a $350.00 target price (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $313.11.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Citi raised its price target on Apple to $365 and kept a Buy rating, arguing the company can keep gaining market share and may benefit from premium iPhone pricing and Apple Intelligence upside. Article Title
• Positive Sentiment: Apple continues to show strong smartphone performance, including record Q2 market share in China and reports that it has outperformed the broader smartphone slump, which supports the case for resilient demand. Article Title
• Positive Sentiment: Investors are also focusing on potential future catalysts such as a possible iPhone price increase and new product cycles, including foldable iPhone plans and AI-focused chip development. Article Title
• Neutral Sentiment: Apple’s lawsuit against OpenAI is keeping the stock in the headlines; it could protect Apple’s intellectual property and slow a competitor’s hardware push, but it also adds legal uncertainty. Article Title
• Neutral Sentiment: Broadcom’s multiyear chip agreement was described as strategically positive for Apple’s AI silicon efforts, but it is more of a longer-term support story than a direct near-term stock mover. Article Title
• Negative Sentiment: KeyBanc’s downgrade and related bearish commentary from other firms are the clearest reasons Apple stock is lower, with analysts warning that slowing iPhone upgrades and softer Services growth could limit further upside. Article Title

Apple Trading Down 0.8%

NASDAQ:AAPL opened at $314.86 on Wednesday. Apple Inc. has a 12 month low of $201.50 and a 12 month high of $323.45. 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 market capitalization of $4.62 trillion, a price-to-earnings ratio of 38.07, a PEG ratio of 2.76 and a beta of 1.10. The firm has a fifty day simple moving average of $301.09 and a two-hundred day simple moving average of $275.89.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.06. The firm had revenue of $111.18 billion for 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%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.65 earnings per share. Analysts expect that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

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

Insider Activity at Apple

In other Apple news, insider Ben Borders sold 1,274 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the sale, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 sale, the chief financial officer owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. This represents a 10.30% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 2,924 shares of company stock worth $825,546. Corporate insiders own 0.06% of the company’s stock.

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.