Apple Inc. $AAPL Shares Acquired by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 107,100 shares of the iPhone maker’s stock after buying an additional 3,618 shares during the quarter. Apple comprises approximately 2.0% of Moss Adams Wealth Advisors LLC’s portfolio, making the stock its 10th largest position. Moss Adams Wealth Advisors LLC’s holdings in Apple were worth $27,181,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of 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 last quarter. State Street Corp lifted its position in Apple by 1.1% in the fourth quarter. State Street Corp now owns 604,056,505 shares of the iPhone maker’s stock valued at $164,218,801,000 after buying an additional 6,555,392 shares during the last quarter. Geode Capital Management LLC lifted its position in Apple by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker’s stock valued at $97,031,587,000 after buying an additional 1,866,103 shares during the last quarter. Morgan Stanley boosted its stake in Apple by 0.6% during the fourth quarter. Morgan Stanley now owns 230,483,035 shares of the iPhone maker’s stock worth $62,659,118,000 after buying an additional 1,379,651 shares during the period. Finally, Norges Bank purchased a new position in Apple during the fourth quarter worth about $52,266,468,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the company’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the sale, the chief financial officer owned 13,366 shares in the company, valued at $3,675,650. This represents a 10.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ben Borders sold 116 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. This represents a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 2,924 shares of company stock worth $825,546. 0.06% of the stock is owned by company insiders.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple announced a multiyear partnership with Broadcom worth more than $30 billion to design and produce U.S.-made custom silicon and wireless chips, its largest domestic manufacturing commitment to date. The deal improves supply-chain resiliency and supports future product cycles. Article Title
• Positive Sentiment: JPMorgan said Apple’s recent price increases for Mac and iPad, and any possible iPhone hikes, are unlikely to significantly hurt demand, and it raised its price target while reiterating a Buy rating. Article Title
• Positive Sentiment: UBS said App Store data points to roughly 3% growth in Apple’s June quarter, signaling that services revenue remains resilient even as U.S. revenue softens somewhat. Article Title
• Neutral Sentiment: Several pieces framed Apple as a potential leader in a broader “Magnificent Seven” rebound, but these were mostly market commentary rather than company-specific catalysts. Article Title
• Negative Sentiment: An EU court rejected Apple’s challenge to Digital Markets Act gatekeeper rules, leaving the company exposed to tighter App Store and iOS antitrust obligations in Europe. Article Title
• Negative Sentiment: Hedgeye reportedly added Apple as a new short idea, which may be adding some caution around the stock’s near-term valuation after a strong run. Article Title

Apple Price Performance

Apple stock opened at $316.16 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. Apple Inc. has a 52-week low of $201.50 and a 52-week high of $317.40. The firm has a market cap of $4.64 trillion, a PE ratio of 38.23, a price-to-earnings-growth ratio of 2.73 and a beta of 1.10. The company’s 50 day moving average is $298.65 and its two-hundred day moving average is $274.97.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. During the same quarter in the previous year, the firm posted $1.65 earnings per share. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, research analysts expect that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently announced 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 represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. Apple’s payout ratio is presently 13.06%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. KGI Securities downgraded shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 price target on the stock. in a research note on Monday, June 22nd. Tigress Financial reaffirmed a “strong-buy” rating and set a $375.00 price objective (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. Rosenblatt Securities reiterated a “neutral” rating and issued a $276.00 target price on shares of Apple in a report on Tuesday, June 9th. Monness Crespi & Hardt boosted their target price on Apple from $315.00 to $335.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, KeyCorp restated a “sector weight” rating on shares of Apple in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $314.85.

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.