Platform Technology Partners Acquires 7,338 Shares of Apple Inc. $AAPL

Platform Technology Partners lifted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 5.1% during the first quarter, Holdings Channel.com reports. The firm owned 150,464 shares of the iPhone maker’s stock after acquiring an additional 7,338 shares during the period. Apple accounts for about 7.4% of Platform Technology Partners’ portfolio, making the stock its biggest position. Platform Technology Partners’ holdings in Apple were worth $38,186,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of AAPL. Lifetime Wealth Management P.C. bought a new position in shares of Apple during the 4th quarter valued at about $41,000. ROSS JOHNSON & Associates LLC raised its holdings in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares in the last quarter. LSV Asset Management bought a new stake in shares of Apple in the 4th quarter worth approximately $65,000. Timmons Wealth Management LLC acquired a new stake in Apple during the fourth quarter valued at approximately $69,000. Finally, 49 Wealth Management LLC lifted its stake in Apple by 15.7% during the third quarter. 49 Wealth Management LLC now owns 298,920 shares of the iPhone maker’s stock valued at $76,000 after purchasing an additional 40,543 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $314.86 on Wednesday. The business’s 50-day moving average is $301.09 and its 200-day moving average is $275.89. 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 company has a market capitalization of $4.62 trillion, a price-to-earnings ratio of 38.07, a P/E/G ratio of 2.76 and a beta of 1.10. Apple Inc. has a fifty-two week low of $201.50 and a fifty-two week high of $323.45.

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 analysts’ expectations of $109.46 billion. During the same period last year, the company posted $1.65 earnings per share. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. Equities 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. Shareholders of record on Monday, May 11th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a 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 payout ratio is currently 13.06%.

Insiders Place Their Bets

In other Apple news, insider Ben Borders sold 116 shares of Apple stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares of the company’s stock, valued at $11,425,754.82. This trade represents a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the transaction, the chief financial officer owned 13,366 shares in the company, valued at approximately $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. Insiders have sold a total of 2,924 shares of company stock valued at $825,546 in the last three months. Company insiders own 0.06% of the company’s stock.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Citi raised its price target on Apple to $365 and kept a Buy rating, arguing the company can keep gaining market share and may benefit from premium iPhone pricing and Apple Intelligence upside. Article Title
• Positive Sentiment: Apple continues to show strong smartphone performance, including record Q2 market share in China and reports that it has outperformed the broader smartphone slump, which supports the case for resilient demand. Article Title
• Positive Sentiment: Investors are also focusing on potential future catalysts such as a possible iPhone price increase and new product cycles, including foldable iPhone plans and AI-focused chip development. Article Title
• Neutral Sentiment: Apple’s lawsuit against OpenAI is keeping the stock in the headlines; it could protect Apple’s intellectual property and slow a competitor’s hardware push, but it also adds legal uncertainty. Article Title
• Neutral Sentiment: Broadcom’s multiyear chip agreement was described as strategically positive for Apple’s AI silicon efforts, but it is more of a longer-term support story than a direct near-term stock mover. Article Title
• Negative Sentiment: KeyBanc’s downgrade and related bearish commentary from other firms are the clearest reasons Apple stock is lower, with analysts warning that slowing iPhone upgrades and softer Services growth could limit further upside. Article Title

Analyst Upgrades and Downgrades

Several research firms have issued reports on AAPL. KGI Securities lowered shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 price target on the stock. in a research report on Monday, June 22nd. Monness Crespi & Hardt increased their price objective on Apple from $315.00 to $335.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Jefferies Financial Group reissued a “hold” rating on shares of Apple in a research note on Tuesday, June 9th. Wells Fargo & Company restated an “overweight” rating and issued a $310.00 target price (up from $300.00) on shares of Apple in a report on Friday, May 1st. Finally, DA Davidson reaffirmed a “neutral” rating and set a $270.00 target price on shares of Apple in a report on Friday, May 1st. 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 issued a Sell rating to the stock. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $313.11.

Apple 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.