AMG Asset Management Group Inc. Invests $1.36 Million in Apple Inc. $AAPL

AMG Asset Management Group Inc. purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL) during the fourth quarter, Holdings Channel reports. The fund purchased 5,021 shares of the iPhone maker’s stock, valued at approximately $1,365,000. Apple accounts for approximately 4.4% of AMG Asset Management Group Inc.’s investment portfolio, making the stock its 8th largest position.

Other large investors have also recently bought and sold shares of the company. Lifetime Wealth Management P.C. bought a new stake in shares of Apple during the 4th quarter worth about $41,000. ROSS JOHNSON & Associates LLC raised its stake in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares in the last quarter. Timmons Wealth Management LLC acquired a new stake in Apple in the 4th quarter worth approximately $69,000. LSV Asset Management acquired a new stake in Apple in the 4th quarter worth approximately $65,000. Finally, Inspire Investing LLC bought a new stake in Apple during the fourth quarter worth approximately $76,000. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Apple in a research note on Tuesday, June 9th. Maxim Group reiterated a “buy” rating and issued a $350.00 target price (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. Bank of America reissued a “buy” rating and set a $380.00 target price on shares of Apple in a research report on Thursday, June 18th. Wells Fargo & Company restated an “overweight” rating and set a $310.00 price target (up from $300.00) on shares of Apple in a report on Friday, May 1st. Finally, KGI Securities downgraded Apple from an “outperform” rating to a “hold” rating and set a $315.00 price target on the stock. in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $314.85.

Apple Price Performance

Shares of Apple stock opened at $294.98 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The company has a market cap of $4.33 trillion, a PE ratio of 35.67, a price-to-earnings-growth ratio of 2.58 and a beta of 1.09. The firm has a fifty day moving average price of $291.15 and a two-hundred day moving average price of $273.06. Apple Inc. has a fifty-two week low of $199.26 and a fifty-two week high of $317.40.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.06. The company had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.65 EPS. Analysts expect that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were paid a dividend of $0.27 per share. 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%. The ex-dividend date was Monday, May 11th. Apple’s dividend payout ratio is presently 13.06%.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Wall Street is becoming more optimistic about Apple’s new Siri and AI strategy after the post-WWDC selloff, suggesting investors may be overreacting to near-term skepticism. After an Initial Panic, Wall Street’s Leaning Into Apple’s New Siri AI
• Positive Sentiment: Reports that Apple has agreed to partner with Intel to design and manufacture chips in the U.S. are being viewed as a supply-chain diversification win and a long-term catalyst for Apple’s hardware roadmap. Apple’s Intel Deal Arrives at the Right Time for Its Stock
• Positive Sentiment: Tim Cook’s comments about higher memory costs and upcoming price increases are being interpreted by some analysts as supportive of Apple’s earnings power, since price hikes could help offset component inflation. Apple: Empirical Evidence Suggests Upcoming Price Hikes Will Boost Earnings
• Neutral Sentiment: Apple’s TV and streaming strategy is drawing attention, but the discussion appears more explanatory than immediately material to the stock. Apple Explains TV Library Strategy
• Neutral Sentiment: A Zacks comparison of NVIDIA and Apple highlights Apple’s lower valuation and services strength, reinforcing the stock’s defensive appeal without changing the near-term setup. NVIDIA vs. Apple: Which Tech Titan Is the Better Buy Right Now?
• Negative Sentiment: Britain’s competition tribunal approved a £3 billion class action over iCloud fees, adding a meaningful legal overhang and potential financial liability for Apple. UK tribunal gives go ahead for $4 billion lawsuit against Apple over iCloud services
• Negative Sentiment: Apple also faces reputational risk after closing its first unionized U.S. store, with the union accusing the company of retaliation. Apple Just Closed Its First Unionized U.S. Store
• Negative Sentiment: Several reports say Apple is forcing price increases on hardware because memory and chip costs are rising, which could pressure demand if consumers push back. Memory’s price surge threatens Apple’s ‘magic formula’ — and the economy

Insider Transactions at Apple

In other news, SVP Deirdre O’brien sold 30,002 shares of Apple 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 sale, the senior vice president owned 136,810 shares of the company’s stock, valued at approximately $34,934,433.50. This trade represents a 17.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 business’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the sale, the chief financial officer owned 13,366 shares in the company, 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. In the last quarter, insiders sold 97,875 shares of company stock worth $24,998,541. Insiders own 0.06% of the company’s stock.

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.