Apple Inc. $AAPL is Elk River Wealth Management LLC’s 6th Largest Position

Elk River Wealth Management LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.8% during the first quarter, HoldingsChannel reports. The firm owned 103,328 shares of the iPhone maker’s stock after buying an additional 1,792 shares during the quarter. Apple comprises 4.3% of Elk River Wealth Management LLC’s holdings, making the stock its 6th largest position. Elk River Wealth Management LLC’s holdings in Apple were worth $26,224,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. First National Bank of Hutchinson boosted its holdings in Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after acquiring an additional 6,982 shares during the period. Eagle Capital Management LLC raised its holdings in shares of Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after purchasing an additional 272 shares in the last quarter. Brighton Jones LLC lifted its holdings in Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after buying an additional 69,207 shares during the period. Revolve Wealth Partners LLC boosted its position in Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after purchasing an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE boosted its holdings in shares of Apple by 2.4% in the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after buying an additional 1,155 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Citigroup restated a “buy” rating on shares of Apple in a research note on Monday, June 1st. Needham & Company LLC reissued a “hold” rating on shares of Apple in a report on Tuesday, June 9th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $276.00 target price on shares of Apple in a report on Tuesday, June 9th. DA Davidson reissued a “neutral” rating and set a $270.00 target price on shares of Apple in a research note on Friday, May 1st. Finally, Oppenheimer reissued a “market perform” rating on shares of Apple in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.85.

Apple Stock Performance

Shares of Apple stock opened at $284.29 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. The firm has a market cap of $4.18 trillion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 2.47 and a beta of 1.09. The business’s fifty day simple moving average is $292.51 and its 200-day simple moving average is $273.20. Apple Inc. has a 52 week low of $199.26 and a 52 week high of $317.40.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share 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 business had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. During the same period last year, the business earned $1.65 earnings per share. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. Equities analysts forecast that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The company 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 is a positive change from Apple’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is 13.06%.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O’brien sold 30,002 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total value of $7,661,010.70. Following the completion of the transaction, the senior vice president owned 136,810 shares of the company’s stock, valued at $34,934,433.50. This trade represents a 17.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 1,274 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 97,875 shares of company stock worth $24,998,541. 0.06% of the stock is currently owned by corporate insiders.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Some analysts and traders see the recent decline as overdone, arguing that Apple’s pullback has created an attractive entry point and that the stock is oversold at support. Stock Of The Day: Is The Apple Sell-Off Over?
• Positive Sentiment: Morgan Stanley reiterated a Buy rating on AAPL, saying Apple’s pricing and margin-defense strategy supports upside and leaving its $360 target unchanged. Apple Buy Rating Reiterated as Margin Defense Strategy Supports Upside; $360 Price Target Unchanged
• Neutral Sentiment: Wall Street remains divided on the broader implications of Apple’s recent price hikes, with some analysts saying the company can pass through costs thanks to its loyal customer base, while others warn the iPhone will be the real test. Apple Can Get Away With Mac Price Hikes, but iPhone Is the Real Test
• Negative Sentiment: Apple raised prices on several Mac and iPad models because surging memory and storage chip costs tied to AI demand are squeezing margins, raising concerns that higher prices could hurt demand and signal more pressure ahead. Apple raises prices of MacBooks, iPads as memory costs skyrocket
• Negative Sentiment: Apple also lost a key Vision Pro hardware executive to OpenAI, adding to investor concern about execution in its spatial-computing and AI efforts. Apple (AAPL) Loses Key Vision Pro Hardware Chief to OpenAI in Major Talent Blow

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.