Clear Retirement Advice LLC Invests $870,000 in Apple Inc. $AAPL

Clear Retirement Advice LLC purchased a new stake in Apple Inc. (NASDAQ:AAPL) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,147 shares of the iPhone maker’s stock, valued at approximately $870,000. Apple comprises about 0.7% of Clear Retirement Advice LLC’s portfolio, making the stock its 22nd largest holding.

Other large investors also recently added to or reduced their stakes in the company. Overbrook Management Corp increased its stake in shares of Apple by 57.4% in the fourth quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock worth $28,449,000 after acquiring an additional 38,174 shares during the period. Torren Management LLC acquired a new stake in Apple during the 4th quarter worth about $1,178,000. Tufton Capital Management grew its position in Apple by 4.3% during the 3rd quarter. Tufton Capital Management now owns 100,130 shares of the iPhone maker’s stock worth $25,496,000 after purchasing an additional 4,157 shares during the period. Adventist Health System Sunbelt Healthcare Corp purchased a new position in shares of Apple during the 4th quarter valued at about $105,482,000. Finally, KBC Group NV lifted its holdings in shares of Apple by 3.1% in the 4th quarter. KBC Group NV now owns 7,044,697 shares of the iPhone maker’s stock valued at $1,915,172,000 after buying an additional 214,215 shares during the period. 67.73% of the stock is owned by institutional investors.

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 30,002 shares of Apple stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total value of $7,661,010.70. Following the sale, the senior vice president directly owned 136,810 shares in the company, valued at approximately $34,934,433.50. The trade was a 17.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Timothy D. Cook sold 64,949 shares of the business’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 of the company’s stock, valued at approximately $833,980,668.14. This trade represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

NASDAQ AAPL opened at $298.01 on Friday. The stock has a market capitalization of $4.38 trillion, a price-to-earnings ratio of 36.04, a PEG ratio of 2.59 and a beta of 1.09. The stock has a 50-day moving average of $289.73 and a 200 day moving average of $272.98. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. Apple Inc. has a twelve month low of $196.85 and a twelve month high of $317.40.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $109.46 billion. During the same period in the previous year, the business earned $1.65 earnings per share. The business’s revenue was up 16.6% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 8.75 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.4%. Apple’s payout ratio is 13.06%.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s planned price increases could protect margins as memory and storage costs rise, and Bank of America reiterated a Buy rating with a $380 target, citing Apple’s pricing power and supply-chain strength. Article Title
• Positive Sentiment: Reports of upcoming AI-focused devices and a second-generation iPhone Air support confidence in Apple’s product pipeline and longer-term growth story. Article Title
• Neutral Sentiment: Apple’s planned price hikes may help earnings, but they could also pressure demand if consumers balk at higher handset prices. Article Title
• Neutral Sentiment: Apple opening Brazil’s App Store to alternative marketplaces reduces regulatory friction there, but it also underscores ongoing global platform scrutiny. Article Title

Analysts Set New Price Targets

AAPL has been the topic of several analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Apple in a report on Monday, June 8th. Needham & Company LLC reissued a “hold” rating on shares of Apple in a report on Tuesday, June 9th. TD Cowen upped their price objective on Apple from $335.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Robert W. Baird set a $310.00 price objective on Apple in a research report on Friday, May 1st. Finally, 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 note on Thursday, May 14th. 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 assigned a Sell rating to the company. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $314.59.

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.