Sandy Cove Advisors LLC Purchases 2,634 Shares of Apple Inc. $AAPL

Sandy Cove Advisors LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,103 shares of the iPhone maker’s stock after acquiring an additional 2,634 shares during the quarter. Apple comprises approximately 4.5% of Sandy Cove Advisors LLC’s investment portfolio, making the stock its 7th biggest holding. Sandy Cove Advisors LLC’s holdings in Apple were worth $17,970,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Lifetime Wealth Management P.C. acquired a new position in Apple in the fourth quarter valued at about $41,000. ROSS JOHNSON & Associates LLC lifted its holdings in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares in the last quarter. Timmons Wealth Management LLC acquired a new position in shares of Apple in the 4th quarter valued at approximately $69,000. LSV Asset Management bought a new stake in Apple during the 4th quarter worth approximately $65,000. Finally, Inspire Investing LLC bought a new stake in Apple during the 4th quarter worth approximately $76,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AAPL. China Renaissance lowered shares of Apple from a “buy” rating to a “hold” rating and set a $280.00 price target on the stock. in a research note on Tuesday, August 4th. Needham & Company LLC restated a “hold” rating on shares of Apple in a report on Friday, July 31st. DA Davidson reaffirmed a “neutral” rating and issued a $270.00 price objective on shares of Apple in a research report on Friday, July 31st. KGI Securities lowered shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price for the company. in a research note on Monday, June 22nd. Finally, Deutsche Bank Aktiengesellschaft cut Apple from a “buy” rating to a “hold” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $330.53.

Insider Activity

In other Apple news, insider Ben Borders sold 116 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the transaction, the insider owned 38,713 shares of the company’s stock, valued at $11,425,754.82. The trade was a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jennifer Newstead sold 1,439 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $307.75, for a total value of $442,852.25. Following the transaction, the senior vice president directly owned 40,107 shares in the company, valued at $12,342,929.25. This trade represents a 3.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.06% of the company’s stock.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Analyst upgrade and bullish outlook: Rothschild & Co. Redburn upgraded Apple from “Neutral” to “Buy” and raised its price target to $400, implying substantial upside. Morgan Stanley also identified Apple among large-cap technology stocks showing a bullish technical signal. Apple stock upgrade and price target
• Positive Sentiment: Apple positioned as an AI and volatility hedge: Analysts argue that Apple’s restrained AI infrastructure spending limits capital-expenditure and valuation risk relative to peers committing hundreds of billions of dollars to AI. Some investors also view Apple as an underappreciated AI beneficiary through its installed base and potential improvements to Siri. Apple’s low AI spending
• Positive Sentiment: Macro support: Retreating Treasury yields helped restore demand for mega-cap technology stocks, while Apple showed relative strength even as semiconductor shares and parts of the technology sector weakened. Apple stock and Treasury yields
• Positive Sentiment: Product optionality: Reports that a future foldable iPhone could support an estimated 11% increase in average iPhone prices provide a potential catalyst for revenue and margin growth, although the product remains unannounced. Apple foldable iPhone outlook

Apple Stock Up 2.2%

Apple stock opened at $316.83 on Thursday. The company has a market cap of $4.62 trillion, a P/E ratio of 36.33, a price-to-earnings-growth ratio of 2.66 and a beta of 1.09. Apple Inc. has a 1-year low of $223.78 and a 1-year high of $344.57. The company has a fifty day simple moving average of $309.95 and a 200 day simple moving average of $286.52. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. During the same period in the previous year, the business earned $1.57 EPS. The company’s revenue was up 16.4% compared to the same quarter last year. Research analysts anticipate that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, August 10th. Apple’s dividend payout ratio is presently 12.39%.

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.