Pursuit Wealth Management LLC Purchases New Stake in Apple Inc. $AAPL

Pursuit Wealth Management LLC purchased a new stake in Apple Inc. (NASDAQ:AAPL) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,711 shares of the iPhone maker’s stock, valued at approximately $2,912,000. Apple comprises about 2.5% of Pursuit Wealth Management LLC’s investment portfolio, making the stock its 8th biggest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Reyes Financial Architecture Inc. increased its holdings in shares of Apple by 0.4% in the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock valued at $2,520,000 after purchasing an additional 37 shares during the last quarter. WESPAC Advisors LLC increased its holdings in shares of Apple by 0.3% in the fourth quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker’s stock valued at $3,351,000 after purchasing an additional 39 shares during the last quarter. American Alpha Advisors LLC grew its position in Apple by 3.7% in the third quarter. American Alpha Advisors LLC now owns 1,151 shares of the iPhone maker’s stock worth $293,000 after acquiring an additional 41 shares during the period. Seven Springs Wealth Group LLC grew its position in Apple by 0.3% in the third quarter. Seven Springs Wealth Group LLC now owns 15,451 shares of the iPhone maker’s stock worth $3,934,000 after acquiring an additional 42 shares during the period. Finally, Avant Capital LLC grew its position in Apple by 0.9% in the third quarter. Avant Capital LLC now owns 4,814 shares of the iPhone maker’s stock worth $1,226,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 64,949 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the completion of the transaction, the chief executive officer directly owned 3,280,418 shares in the company, valued at $833,980,668.14. This trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of the firm’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the transaction, the chief financial officer owned 13,366 shares of the company’s stock, 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 sold a total of 96,485 shares of company stock worth $24,594,845 over the last ninety days. 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: Wedbush lifted Apple’s price target to $400 and said AI could drive a major growth wave for AAPL. Apple price target boosted by Wedbush on AI monetization expectations
• Positive Sentiment: Reports that Apple reached a preliminary chip-making deal with Intel boosted confidence in Apple’s manufacturing strategy and supply chain flexibility. Apple, Intel Have Reached Preliminary Chip-Making Agreement
• Positive Sentiment: Analysts see WWDC as a potential inflection point, with upcoming AI-related software features seen as a possible catalyst for Apple’s next leg higher. Apple’s biggest bull is now calling for a 37% stock jump
• Neutral Sentiment: Apple remains near its recent highs after strong quarterly results, keeping investor expectations elevated ahead of the next catalyst. Dow Jones Futures: Market At Highs With Iran, Trump-Xi Summit In Focus; Apple, Nvidia, Boeing In Buy Areas
• Negative Sentiment: Apple also faces ongoing legal and regulatory noise, including a Siri settlement and App Store antitrust disputes, which could weigh on sentiment if they escalate. Apple promised a smarter Siri, but a lawsuit says it didn’t deliver—and you can get up to $95 back

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AAPL shares. Stephens set a $315.00 price objective on Apple in a research report on Monday, January 26th. BNP Paribas Exane upgraded Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price objective for the company in a research report on Friday, April 17th. Barclays reiterated an “underweight” rating and issued a $253.00 price objective (up from $248.00) on shares of Apple in a research report on Friday, May 1st. TD Cowen reaffirmed a “buy” rating and issued a $335.00 target price (up from $325.00) on shares of Apple in a research report on Friday, May 1st. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $270.00 target price on shares of Apple in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $305.74.

Apple Trading Up 2.0%

AAPL opened at $293.25 on Friday. Apple Inc. has a 52 week low of $193.46 and a 52 week high of $294.76. The business has a fifty day simple moving average of $261.85 and a 200-day simple moving average of $266.04. The firm has a market cap of $4.31 trillion, a P/E ratio of 35.46, a P/E/G ratio of 2.55 and a beta of 1.06. 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 (NASDAQ:AAPL) last released 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 return on equity of 146.69% and a net margin of 27.15%.The business had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. During the same period last year, the business posted $1.65 earnings per share. The company’s quarterly revenue was up 16.6% on a year-over-year basis. On average, equities analysts expect that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Monday, May 11th will be given a dividend of $0.27 per share. This is an increase from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, May 11th. Apple’s dividend payout ratio (DPR) is 13.06%.

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.