Apple Inc. $AAPL Shares Sold by Echo Wealth Management LLC

Echo Wealth Management LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 31.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 7,330 shares of the iPhone maker’s stock after selling 3,423 shares during the period. Apple makes up approximately 1.1% of Echo Wealth Management LLC’s portfolio, making the stock its 15th biggest position. Echo Wealth Management LLC’s holdings in Apple were worth $1,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Lifetime Wealth Management P.C. acquired a new position in Apple during the fourth quarter worth approximately $41,000. ROSS JOHNSON & Associates LLC boosted its holdings 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 purchasing an additional 180 shares during the last quarter. Timmons Wealth Management LLC acquired a new position in shares of Apple in the 4th quarter valued at $69,000. LSV Asset Management purchased a new stake in shares of Apple during the 4th quarter valued at $65,000. Finally, Inspire Investing LLC purchased a new stake in shares of Apple during the 4th quarter valued at $76,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the 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 completion of the sale, the chief financial officer owned 13,366 shares of the company’s stock, valued at $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the sale, the insider directly owned 38,713 shares of the company’s stock, valued at $11,226,770. This trade represents a 3.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 2,924 shares of company stock valued at $825,546. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

AAPL has been the topic of several research reports. BNP Paribas Exane raised Apple from a “neutral” rating to an “outperform” rating and set a $300.00 target price on the stock in a research report on Friday, April 17th. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research report on Tuesday, June 9th. TD Cowen upped their price target on Apple from $335.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Wedbush restated an “outperform” rating and issued a $400.00 price objective on shares of Apple in a report on Friday, June 5th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Apple in a research note on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.85.

Apple Stock Performance

Shares of AAPL opened at $308.63 on Friday. The stock’s 50-day moving average is $295.25 and its two-hundred day moving average is $273.85. The stock has a market cap of $4.53 trillion, a PE ratio of 37.32, a P/E/G ratio of 2.68 and a beta of 1.10. Apple Inc. has a 12 month low of $201.50 and a 12 month high of $317.40. 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 issued its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. During the same quarter in the prior year, the business earned $1.65 earnings per share. The company’s revenue was up 16.6% compared to the same quarter last year. Equities analysts forecast that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders 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 dividend on an annualized basis and a yield of 0.3%. This is a boost from Apple’s previous quarterly dividend of $0.26. Apple’s dividend payout ratio (DPR) is currently 13.06%.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Reports that Apple plans at least five new iPhone models through early 2027, including a stronger foldable iPhone push, have reinforced expectations for a fresh product cycle and a longer growth runway. Apple plans five new iPhones through 2027, eyes Chinese-made chips amid foldable push, reports say
• Positive Sentiment: Apple also appears to be benefiting from investor optimism that it can navigate the memory-chip shortage and secure supply, including possible deals with lower-cost Chinese chipmakers, which could help protect future production. Apple negotiates with blacklisted Chinese chipmakers amid AI-driven memory crunch
• Positive Sentiment: Several market commentary pieces said Apple is holding up better than the broader tech sector, with traders viewing recent weakness as a buying opportunity and analysts still pointing to solid upside potential. Apple’s Aggressive Price Hikes Raise Eyebrows As Wall Street Links AI Chip Shortages To Inflation Pressure
• Neutral Sentiment: Apple’s recent price hikes on Macs and iPads are being interpreted two ways: as a sign of inflationary component costs, but also as a margin-protection move that may not hurt demand as much as feared. Jim Cramer’s Latest Thought on Apple Inc. (AAPL)
• Neutral Sentiment: Apple’s insider-selling activity and mixed institutional positioning are adding caution, but they are not the main driver of the stock today. Apple Stock (AAPL) Opinions on Recent Price Hikes and Analyst Views
• Negative Sentiment: Some coverage continues to flag pressure on Apple’s margins and demand if higher component costs force more price increases, which could weigh on sentiment over time. Is Apple stock in trouble? Rising costs threaten margins, demand

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.