Fortune 45 LLC Has $3.33 Million Stock Position in Apple Inc. $AAPL

Fortune 45 LLC lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 20.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,111 shares of the iPhone maker’s stock after selling 3,278 shares during the quarter. Apple comprises about 1.6% of Fortune 45 LLC’s investment portfolio, making the stock its 7th largest position. Fortune 45 LLC’s holdings in Apple were worth $3,327,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Apple by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock worth $387,749,545,000 after buying an additional 26,856,752 shares during the last quarter. State Street Corp boosted its holdings in shares of 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 period. Geode Capital Management LLC increased its position in shares of Apple by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker’s stock worth $97,031,587,000 after acquiring an additional 1,866,103 shares in the last quarter. Morgan Stanley raised its holdings in shares of 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 acquiring an additional 1,379,651 shares during the period. Finally, Norges Bank bought a new stake in Apple in the 4th quarter valued at $52,266,468,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apple

In other Apple news, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the sale, the chief financial officer owned 13,366 shares in the company, valued at $3,675,650. The trade was a 10.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ben Borders sold 1,274 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the transaction, 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 disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 2,924 shares of company stock worth $825,546. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AAPL. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Apple in a research note on Wednesday. Sanford C. Bernstein restated an “outperform” rating on shares of Apple in a report on Monday, June 8th. Monness Crespi & Hardt boosted their price target on Apple from $315.00 to $335.00 and gave the company a “buy” rating in a report on Friday, May 1st. 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, KGI Securities lowered Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price on the stock. in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $318.43.

Apple Price Performance

NASDAQ:AAPL opened at $333.74 on Friday. The stock’s 50 day moving average price is $303.61 and its two-hundred day moving average price is $277.09. Apple Inc. has a 12-month low of $201.50 and a 12-month high of $334.99. The firm has a market capitalization of $4.90 trillion, a price-to-earnings ratio of 40.36, a P/E/G ratio of 2.89 and a beta of 1.10. 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 data on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping 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 firm had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. During the same period in the previous year, the business posted $1.65 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, analysts anticipate that Apple Inc. will post 8.76 earnings per share for the current year.

Apple Increases Dividend

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

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: HSBC upgraded Apple Inc. (NASDAQ: AAPL) to Buy and raised its price target to $366 from $260, saying the company is at an operational turning point with AI features and hardware momentum supporting growth. HSBC upgrades Apple to Buy, sees “strong cycle ahead”
• Positive Sentiment: China approved Apple Intelligence for iPhones, and Apple will integrate Alibaba’s Qwen AI model in its China rollout, a key step that could expand Apple’s AI adoption in one of its most important markets. Alibaba and Baidu shares jump in Hong Kong on Apple AI partnership
• Positive Sentiment: Multiple reports say Apple briefly overtook Nvidia in market value, reinforcing the view that investors are rotating toward Apple’s consumer execution and away from some AI-heavy names. Apple closes in on Nvidia in race for world’s most valuable company
• Positive Sentiment: Several commentaries highlighted Apple’s cash generation, shareholder returns, and robotics/innovation efforts, supporting the bullish “cash flow machine” and diversification narrative. Apple’s Core Business Cash Flow Machine Will Support Innovation and Diversification

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.