Rockport Wealth LLC Has $27.50 Million Stock Position in Apple Inc. $AAPL

Rockport Wealth LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 38.4% during the first quarter, HoldingsChannel.com reports. The fund owned 108,410 shares of the iPhone maker’s stock after buying an additional 30,058 shares during the period. Apple makes up approximately 5.0% of Rockport Wealth LLC’s holdings, making the stock its 4th biggest position. Rockport Wealth LLC’s holdings in Apple were worth $27,505,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Lifetime Wealth Management P.C. acquired a new stake in Apple during the 4th quarter worth about $41,000. ROSS JOHNSON & Associates LLC lifted its stake in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 180 shares in the last quarter. Timmons Wealth Management LLC acquired a new position in shares of Apple in the fourth quarter worth about $69,000. LSV Asset Management acquired a new position in shares of Apple in the fourth quarter worth about $65,000. Finally, Inspire Investing LLC purchased a new position in shares of Apple in the fourth quarter worth approximately $76,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AAPL shares. Jefferies Financial Group restated a “hold” rating on shares of Apple in a report on Tuesday, June 9th. HSBC raised shares of Apple from a “hold” rating to a “buy” rating and raised their price objective for the stock from $260.00 to $366.00 in a research note on Thursday, July 16th. Raymond James Financial reiterated a “market perform” rating on shares of Apple in a research report on Friday. Evercore reissued an “outperform” rating on shares of Apple in a research note on Wednesday, July 8th. Finally, DA Davidson restated a “neutral” rating and issued a $270.00 target price on shares of Apple in a report on Friday. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $331.60.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple reported record June-quarter revenue of $109.4 billion, up 16.4% year over year, and diluted EPS of $2.02, exceeding Wall Street expectations. iPhone revenue rose 22% to $54.3 billion, while Mac revenue increased 29% to $10.4 billion. Apple reports third quarter results
• Positive Sentiment: Apple’s large installed base, strong hardware demand and potential consumer-AI opportunities remain long-term supports. Some analysts remain bullish: TD Cowen raised its price target to $400, while other firms maintained Buy or Overweight ratings despite trimming estimates. Analyst raises Apple price target
• Positive Sentiment: The company declared a quarterly dividend of $0.27 per share, payable August 13 to shareholders of record August 10. Apple also continues to emphasize an AI strategy that requires less capital spending than the infrastructure-heavy approach used by some peers. Apple Q3 financial results

Apple Price Performance

NASDAQ AAPL opened at $308.91 on Friday. 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 capitalization of $4.54 trillion, a price-to-earnings ratio of 35.43, a price-to-earnings-growth ratio of 2.88 and a beta of 1.10. The company has a 50 day simple moving average of $309.51 and a 200-day simple moving average of $281.45. Apple Inc. has a 52-week low of $201.50 and a 52-week high of $344.57.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. The firm had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 142.29%. The firm’s revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.57 earnings per share. Equities research analysts predict that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be 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 is Monday, August 10th. Apple’s payout ratio is currently 12.39%.

Insider Buying and Selling at Apple

In other news, insider Ben Borders sold 1,274 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the transaction, the insider directly owned 38,713 shares of the company’s stock, valued at approximately $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company 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.