Evansbrook LLC Acquires New Shares in Apple Inc. $AAPL

Evansbrook LLC acquired a new position in Apple Inc. (NASDAQ:AAPL) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,061 shares of the iPhone maker’s stock, valued at approximately $2,191,000. Apple accounts for about 1.5% of Evansbrook LLC’s portfolio, making the stock its 10th biggest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Isthmus Partners LLC boosted its stake in shares of Apple by 6.4% during the third quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker’s stock valued at $25,000 after purchasing an additional 5,808 shares in the last quarter. Sellwood Investment Partners LLC raised its stake in Apple by 110.9% in the third quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker’s stock worth $34,000 after buying an additional 71 shares in the last quarter. ROSS JOHNSON & Associates LLC raised its stake in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares in the last quarter. LSV Asset Management purchased a new stake in Apple during the fourth quarter worth $65,000. Finally, Timmons Wealth Management LLC purchased a new stake in Apple during the fourth quarter worth $69,000. 67.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Robert W. Baird set a $310.00 target price on Apple in a research report on Friday, May 1st. Oppenheimer reissued a “market perform” rating on shares of Apple in a research report on Tuesday, June 9th. Citigroup restated a “buy” rating on shares of Apple in a research note on Monday, June 1st. Tigress Financial reaffirmed a “strong-buy” rating and set a $375.00 price objective (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. Finally, TD Cowen lifted their target price on Apple from $335.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $314.59.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Bank of America reiterated a Buy rating on Apple and kept a $380 price target, citing Apple’s pricing power, strong supply-chain position, and ability to manage rising memory costs. Article Title
• Positive Sentiment: President Trump said Apple will work with Intel to design and build chips in the U.S., raising hopes for a domestic supply-chain boost and stronger strategic positioning for Apple. Article Title
• Positive Sentiment: Analysts said Apple is relatively well positioned to weather the AI-driven memory shortage because of its scale, inventory, and supplier relationships, which may help protect hardware margins. Article Title
• Neutral Sentiment: Apple reportedly plans to raise prices across its product lineup, which could support margins but may also weigh on consumer demand if the increases are too large. Article Title
• Neutral Sentiment: Apple is also reportedly developing new AI wearables and a foldable iPhone for 2027, which supports the long-term product pipeline but is unlikely to affect near-term earnings. Article Title
• Negative Sentiment: Italy opened a Digital Markets Act probe into Apple’s cloud interoperability practices, adding another regulatory risk for the company in Europe. Article Title

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 64,949 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total value of $16,511,984.27. Following the sale, the chief executive officer owned 3,280,418 shares in the company, valued at $833,980,668.14. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Deirdre O’brien sold 30,002 shares of the stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the completion of the transaction, the senior vice president owned 136,810 shares in the company, valued at approximately $34,934,433.50. This trade represents a 17.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 97,875 shares of company stock worth $24,998,541 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $298.01 on Friday. The stock has a 50-day moving average of $288.95 and a two-hundred day moving average of $272.80. Apple Inc. has a one year low of $196.85 and a one year high of $317.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The stock has a market cap of $4.38 trillion, a P/E ratio of 36.04, a P/E/G ratio of 2.58 and a beta of 1.09.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.06. The business had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.65 EPS. As a group, research analysts predict that Apple Inc. will post 8.75 EPS 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 represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. This is a positive change from Apple’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. Apple’s dividend payout ratio is presently 13.06%.

About Apple

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.