Syntegra Private Wealth Group LLC Decreases Stake in Apple Inc. $AAPL

Syntegra Private Wealth Group LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 4.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,328 shares of the iPhone maker’s stock after selling 2,711 shares during the quarter. Apple comprises approximately 1.3% of Syntegra Private Wealth Group LLC’s portfolio, making the stock its 14th largest holding. Syntegra Private Wealth Group LLC’s holdings in Apple were worth $13,280,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in Apple in the fourth quarter valued at approximately $52,266,468,000. Nuveen LLC purchased a new position in Apple during the 1st quarter valued at about $17,472,482,000. Cardano Risk Management B.V. grew its holdings in shares of Apple by 890.7% in the fourth quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker’s stock valued at $11,413,990,000 after purchasing an additional 37,746,784 shares in the last quarter. Laurel Wealth Advisors LLC grew 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 worth $5,553,753,000 after acquiring an additional 26,937,401 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Apple by 1.9% during the 4th 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. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on AAPL shares. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research report on Tuesday, June 9th. Evercore reaffirmed an “outperform” rating on shares of Apple in a research report on Wednesday, July 8th. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $250.00 price objective on the stock. in a research note on Tuesday. Wedbush restated an “outperform” rating and set a $400.00 price target on shares of Apple in a research note on Friday, June 5th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Apple in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $314.26.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: China approved Apple Intelligence for iPhones, a key regulatory green light that clears the way for Apple’s AI rollout in one of its most important markets and could help support upgrades and Services growth. Reuters: Apple Intelligence AI service registered with China’s cyberspace regulator
• Positive Sentiment: Reports that Apple is exploring acquisitions of AI chip startups to strengthen its server and AI hardware capabilities reinforced the idea that the company is actively investing to remain competitive in AI without a huge data-center spending spree. Reuters: Apple chasing AI chip company deals, The Information reports
• Positive Sentiment: News that Apple may spend about $30 billion through its Broadcom partnership adds confidence in supply-chain security and custom silicon development, which investors see as supportive for future product cycles and margins. Yahoo Finance/Reuters: Apple Plans to Spend $30 Billion in a Deal With Broadcom (AVGO)
• Positive Sentiment: Apple also won dismissal of a high-stakes iCloud-related lawsuit, removing an overhang and improving sentiment around legal risk. Yahoo Finance: Apple Wins Dismissal of iCloud Lawsuit
• Neutral Sentiment: Several media and analyst pieces noted Apple’s stock hitting record highs and trading near a new 52-week high, reflecting strong momentum after a sharp run-up rather than a fresh fundamental surprise. Investopedia: Apple Could Buy an AI Chip Company. Its Hot Stock Just Set a Fresh Record High
• Negative Sentiment: KeyBanc downgraded Apple to Underweight, warning that slowing hardware demand, softer Services growth, and valuation concerns could limit further upside. Yahoo Finance: KeyBanc Downgrades Apple on Growth Concerns

Apple Stock Up 4.0%

Shares of NASDAQ AAPL opened at $327.50 on Thursday. 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’s 50-day moving average is $301.89 and its two-hundred day moving average is $276.27. The company has a market capitalization of $4.81 trillion, a PE ratio of 39.60, a price-to-earnings-growth ratio of 2.74 and a beta of 1.10. Apple Inc. has a 12-month low of $201.50 and a 12-month high of $328.73.

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

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend 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 dividend payout ratio (DPR) is presently 13.06%.

Insider Transactions at Apple

In related news, insider Ben Borders sold 1,274 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevan Parekh sold 1,534 shares of the firm’s stock in a transaction dated 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 $3,675,650. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 2,924 shares of company stock worth $825,546. 0.06% of the stock is currently owned by insiders.

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.