N.E.W. Advisory Services LLC Grows Position in Apple Inc. $AAPL

N.E.W. Advisory Services LLC increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 29.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,291 shares of the iPhone maker’s stock after purchasing an additional 15,620 shares during the period. Apple makes up 1.4% of N.E.W. Advisory Services LLC’s portfolio, making the stock its 17th largest holding. N.E.W. Advisory Services LLC’s holdings in Apple were worth $18,837,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AAPL. Isthmus Partners LLC boosted its stake in shares of Apple by 6.4% during the 3rd quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker’s stock worth $25,000 after purchasing an additional 5,808 shares during the period. Sellwood Investment Partners LLC boosted its stake in shares of Apple by 110.9% during the 3rd quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker’s stock worth $34,000 after purchasing an additional 71 shares during the period. ROSS JOHNSON & Associates LLC boosted its stake 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 worth $42,000 after purchasing an additional 180 shares during the period. LSV Asset Management purchased a new position in shares of Apple during the 4th quarter worth about $65,000. Finally, 49 Wealth Management LLC boosted its stake in shares of Apple by 15.7% during the 3rd quarter. 49 Wealth Management LLC now owns 298,920 shares of the iPhone maker’s stock worth $76,000 after purchasing an additional 40,543 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other news, insider Ben Borders sold 1,274 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the sale, the insider owned 38,713 shares in the company, valued at approximately $11,226,770. The trade was a 3.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Deirdre O’brien sold 30,002 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the completion of the sale, the senior vice president owned 136,810 shares of the company’s stock, valued at approximately $34,934,433.50. This represents a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 97,759 shares of company stock worth $24,964,305. 0.06% of the stock is owned by company insiders.

Apple Trading Up 1.3%

Shares of AAPL opened at $308.82 on Friday. Apple Inc. has a 1-year low of $193.46 and a 1-year high of $311.40. The company has a 50-day moving average of $269.64 and a 200 day moving average of $268.63. The firm has a market capitalization of $4.54 trillion, a price-to-earnings ratio of 37.34, a PEG ratio of 2.66 and a beta of 1.06. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data 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 company had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. During the same quarter last year, the business posted $1.65 EPS. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, research analysts expect that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a $0.27 dividend. The ex-dividend date was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. This is an increase from Apple’s previous quarterly dividend of $0.26. Apple’s dividend payout ratio (DPR) is presently 13.06%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AAPL shares. Maxim Group raised shares of Apple from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research note on Friday, January 30th. Bank of America lifted their price target on shares of Apple from $320.00 to $325.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Citigroup reaffirmed a “buy” rating on shares of Apple in a research note on Tuesday, April 21st. Wells Fargo & Company reiterated an “overweight” rating and set a $310.00 price objective (up from $300.00) on shares of Apple in a report on Friday, May 1st. Finally, Rosenblatt Securities lifted their price objective on shares of Apple from $268.00 to $276.00 and gave the company a “neutral” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $308.74.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple continues to be viewed as one of the best long-term large-cap tech names, with reports highlighting strong iPhone demand, its massive installed base, and the potential for Services to drive the next leg of earnings growth. Apple Services story
• Positive Sentiment: Analysts remain constructive: Evercore ISI reiterated an Outperform rating and raised its price target, while other commentary says Apple can keep compounding earnings and free cash flow as it expands AI features and devices. Analyst commentary
• Positive Sentiment: Apple executives saying the company is still in the “early innings” of spatial computing is reinforcing the view that new product categories could support future growth beyond the iPhone. Spatial computing article
• Neutral Sentiment: Apple’s legal fight with Epic Games remains a drag on sentiment, as the company asked the U.S. Supreme Court to review a contempt order tied to App Store fees. Epic lawsuit article
• Negative Sentiment: Some analysts are becoming more cautious on valuation after Apple’s run to new highs, warning the stock may be due for profit-taking. KeyBanc caution article

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.