Conscious Wealth Investments LLC Has $4.71 Million Stock Holdings in Apple Inc. $AAPL

Conscious Wealth Investments LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 763.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,678 shares of the iPhone maker’s stock after buying an additional 15,630 shares during the period. Apple comprises approximately 2.8% of Conscious Wealth Investments LLC’s holdings, making the stock its 9th largest position. Conscious Wealth Investments LLC’s holdings in Apple were worth $4,710,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lifetime Wealth Management P.C. bought a new position in shares of Apple in the 4th quarter worth approximately $41,000. ROSS JOHNSON & Associates LLC grew its position in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 180 shares during the period. LSV Asset Management bought a new stake in Apple during the fourth quarter valued at approximately $65,000. Timmons Wealth Management LLC purchased a new stake in Apple during the fourth quarter valued at approximately $69,000. Finally, Inspire Investing LLC purchased a new stake in Apple during the fourth quarter valued at approximately $76,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Up 0.9%

AAPL opened at $316.16 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. Apple Inc. has a fifty-two week low of $201.50 and a fifty-two week high of $317.40. The firm’s fifty day moving average is $298.65 and its 200 day moving average is $274.97. The stock has a market cap of $4.64 trillion, a price-to-earnings ratio of 38.23, a price-to-earnings-growth ratio of 2.73 and a beta of 1.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. The business had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.Apple’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.65 EPS. On average, sell-side analysts forecast that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm 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. This represents a $1.08 dividend on an annualized basis and a dividend 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 currently 13.06%.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple announced a multiyear partnership with Broadcom worth more than $30 billion to design and produce U.S.-made custom silicon and wireless chips, its largest domestic manufacturing commitment to date. The deal improves supply-chain resiliency and supports future product cycles. Article Title
• Positive Sentiment: JPMorgan said Apple’s recent price increases for Mac and iPad, and any possible iPhone hikes, are unlikely to significantly hurt demand, and it raised its price target while reiterating a Buy rating. Article Title
• Positive Sentiment: UBS said App Store data points to roughly 3% growth in Apple’s June quarter, signaling that services revenue remains resilient even as U.S. revenue softens somewhat. Article Title
• Neutral Sentiment: Several pieces framed Apple as a potential leader in a broader “Magnificent Seven” rebound, but these were mostly market commentary rather than company-specific catalysts. Article Title
• Negative Sentiment: An EU court rejected Apple’s challenge to Digital Markets Act gatekeeper rules, leaving the company exposed to tighter App Store and iOS antitrust obligations in Europe. Article Title
• Negative Sentiment: Hedgeye reportedly added Apple as a new short idea, which may be adding some caution around the stock’s near-term valuation after a strong run. Article Title

Insider Activity

In related news, insider Ben Borders sold 116 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the transaction, the insider directly owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of the company’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 transaction, the chief financial officer owned 13,366 shares of the company’s stock, valued at $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 2,924 shares of company stock valued at $825,546 in the last quarter. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AAPL. Citigroup reiterated a “buy” rating on shares of Apple in a research note on Monday, June 1st. Maxim Group restated a “buy” rating and issued a $350.00 price objective (up from $310.00) on shares of Apple in a research note on Tuesday, June 9th. Morgan Stanley reaffirmed an “overweight” rating on shares of Apple in a report on Friday, June 26th. Tigress Financial reiterated a “strong-buy” rating and set a $375.00 target price (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. Finally, BNP Paribas Exane raised Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price target for the company in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $314.85.

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.