Matrix Asset Advisors Inc. NY Acquires 6,469 Shares of Apple Inc. $AAPL

Matrix Asset Advisors Inc. NY grew its holdings in Apple Inc. (NASDAQ:AAPL) by 4.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 153,271 shares of the iPhone maker’s stock after acquiring an additional 6,469 shares during the period. Apple comprises approximately 3.6% of Matrix Asset Advisors Inc. NY’s portfolio, making the stock its 7th largest position. Matrix Asset Advisors Inc. NY’s holdings in Apple were worth $38,899,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Lifetime Wealth Management P.C. acquired a new stake in Apple in the 4th quarter valued at about $41,000. ROSS JOHNSON & Associates LLC grew its position in shares of Apple by 1,800.0% during 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 shares of Apple during the fourth quarter worth approximately $65,000. Timmons Wealth Management LLC purchased a new stake in shares of Apple during the fourth quarter worth approximately $69,000. Finally, Inspire Investing LLC acquired a new stake in Apple in the fourth quarter valued at approximately $76,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: J.P. Morgan reportedly raised its price target on Apple, reinforcing bullish expectations heading into fiscal Q3 earnings and signaling confidence in Apple’s growth and margins. J.P. Morgan Lifts Apple Stock (AAPL) Price Target Ahead of Q3 Earnings
• Positive Sentiment: Apple’s extended chip partnership with Broadcom through 2031 strengthens its AI and connectivity supply chain, improving visibility for future products and supporting sentiment around Apple’s long-term execution. Broadcom, Apple extend chip partnership through 2031
• Positive Sentiment: Several reports say investors are warming to Apple’s “cheap AI” strategy, with attention shifting to Macs, Siri, and other ecosystem features rather than just the iPhone, which could create new upside drivers. Why Investors Fell Back In Love With Apple’s Cheap AI Strategy
• Positive Sentiment: Analysts said Apple should be able to weather hardware price increases because demand remains resilient, suggesting consumers may be less price-sensitive than feared. Apple Sales Seen Weathering Hardware Price Increases

Insider Activity at Apple

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The stock was 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 approximately $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value 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. The trade was a 3.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 2,924 shares of company stock worth $825,546. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Down 0.6%

NASDAQ AAPL opened at $310.66 on Wednesday. The firm’s fifty day moving average price is $296.83 and its 200 day moving average price is $274.38. 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. The company has a market capitalization of $4.56 trillion, a price-to-earnings ratio of 37.56, a price-to-earnings-growth ratio of 2.72 and a beta of 1.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. 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 firm posted $1.65 earnings per share. Apple’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, sell-side analysts expect that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.3%. 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%.

Analysts Set New Price Targets

AAPL has been the subject of several analyst reports. Jefferies Financial Group reiterated a “hold” rating on shares of Apple in a report on Tuesday, June 9th. Robert W. Baird set a $310.00 price objective on shares of Apple in a research report on Friday, May 1st. Maxim Group reissued 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. DA Davidson restated a “neutral” rating and issued a $270.00 price target on shares of Apple in a research note on Friday, May 1st. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Apple in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $314.85.

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.