Apple Inc. $AAPL Stock Holdings Lifted by Continuum Advisory LLC

Continuum Advisory LLC grew its holdings in Apple Inc. (NASDAQ:AAPL) by 11.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 164,367 shares of the iPhone maker’s stock after purchasing an additional 16,713 shares during the quarter. Apple makes up 4.0% of Continuum Advisory LLC’s portfolio, making the stock its 2nd biggest position. Continuum Advisory LLC’s holdings in Apple were worth $41,715,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Asset Allocation Strategies LLC lifted its stake in shares of Apple by 13.9% during the 1st quarter. Asset Allocation Strategies LLC now owns 8,827 shares of the iPhone maker’s stock worth $2,240,000 after purchasing an additional 1,080 shares during the last quarter. Detalus Advisors LLC grew its stake in Apple by 13.4% in the first quarter. Detalus Advisors LLC now owns 26,621 shares of the iPhone maker’s stock valued at $6,756,000 after purchasing an additional 3,144 shares during the last quarter. TRU Independence Asset Management 2 LLC raised its holdings in Apple by 2.9% in the first quarter. TRU Independence Asset Management 2 LLC now owns 8,479 shares of the iPhone maker’s stock worth $2,152,000 after purchasing an additional 237 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in Apple by 8.1% in the first quarter. Apollon Wealth Management LLC now owns 910,403 shares of the iPhone maker’s stock worth $231,051,000 after purchasing an additional 68,158 shares in the last quarter. Finally, First Financial Group Corp lifted its position in shares of Apple by 0.4% during the first quarter. First Financial Group Corp now owns 20,029 shares of the iPhone maker’s stock valued at $5,083,000 after buying an additional 84 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. KeyCorp reaffirmed a “sector weight” rating on shares of Apple in a research report on Tuesday, June 9th. UBS Group restated a “buy” rating on shares of Apple in a research note on Tuesday, June 9th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $276.00 price target on shares of Apple in a research report on Tuesday, June 9th. Robert W. Baird set a $310.00 price objective on Apple in a report on Friday, May 1st. Finally, Wedbush reissued an “outperform” rating and issued a $400.00 price objective on shares of Apple in a research report on Friday, June 5th. One equities 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 given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $314.85.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: The Broadcom agreement should improve Apple’s supply chain resiliency, reduce reliance on overseas suppliers, and strengthen its domestic manufacturing story. Apple to increase spend with Broadcom to produce billions more U.S. chips
• Positive Sentiment: Wall Street is also taking the deal as a sign that Apple is investing aggressively in its long-term chip and AI infrastructure, which could support future product launches and margin stability. Apple Announces Broadcom Chip Deal Worth More Than $30 Billion
• Neutral Sentiment: Apple also lost an EU court challenge to the bloc’s Digital Markets Act, leaving its App Store and iOS under tougher antitrust obligations in Europe, but investors appear to be focusing more on the chip deal today. EU court rejects Apple’s challenge against EU rules reining in Big Tech
• Neutral Sentiment: Separately, JPMorgan said recent hardware price increases are unlikely to hurt demand, reinforcing the view that Apple’s pricing power remains intact heading into earnings later this month. Apple price hikes unlikely to hurt demand, JPMorgan says as it raises PT

Apple Trading Up 0.9%

NASDAQ:AAPL opened at $313.39 on Thursday. The company has a market capitalization of $4.60 trillion, a P/E ratio of 37.89, a PEG ratio of 2.70 and a beta of 1.10. 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 12 month low of $201.50 and a 12 month high of $317.40. The firm has a fifty day simple moving average of $297.74 and a 200-day simple moving average of $274.68.

Apple (NASDAQ:AAPL) last released its earnings results 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 return on equity of 146.69% and a net margin of 27.15%.The firm had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. During the same period in the prior year, the firm earned $1.65 EPS. The firm’s revenue was up 16.6% on a year-over-year basis. On average, equities research analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a $0.27 dividend. The ex-dividend date 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 dividend yield of 0.3%. Apple’s dividend payout ratio (DPR) is 13.06%.

Insider Transactions at Apple

In other news, CFO Kevan Parekh sold 1,534 shares of the company’s stock in a transaction 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 directly owned 13,366 shares of the company’s stock, valued at $3,675,650. This represents a 10.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ben Borders sold 116 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 2,924 shares of company stock valued at $825,546 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

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.