Intrua Financial LLC Has $17.52 Million Stock Holdings in Apple Inc. $AAPL

Intrua Financial LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 6.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,034 shares of the iPhone maker’s stock after selling 4,807 shares during the quarter. Apple accounts for approximately 1.8% of Intrua Financial LLC’s holdings, making the stock its 10th largest position. Intrua Financial LLC’s holdings in Apple were worth $17,520,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AAPL. Reyes Financial Architecture Inc. raised its stake in shares of Apple by 0.4% in the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock worth $2,520,000 after buying an additional 37 shares during the period. WESPAC Advisors LLC lifted its position in shares of Apple by 0.3% during the 4th quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker’s stock valued at $3,351,000 after buying an additional 39 shares in the last quarter. Interactive Financial Advisors Inc. grew its stake in shares of Apple by 4.0% during the 4th quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock valued at $286,000 after acquiring an additional 40 shares during the period. Sugar Maple Asset Management LLC grew its stake in shares of Apple by 2.0% during the 1st quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker’s stock valued at $515,000 after acquiring an additional 40 shares during the period. Finally, Orion Investment Co increased its holdings in Apple by 0.3% in the 4th quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker’s stock worth $3,902,000 after acquiring an additional 41 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on AAPL. Citigroup reaffirmed a “buy” rating on shares of Apple in a report on Monday, June 1st. Jefferies Financial Group reissued a “hold” rating on shares of Apple in a research note on Tuesday, June 9th. KGI Securities downgraded shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 price objective on the stock. in a research report on Monday, June 22nd. KeyCorp restated a “sector weight” rating on shares of Apple in a research note on Tuesday, June 9th. Finally, Robert W. Baird set a $310.00 target price on shares of Apple in a report on Friday, May 1st. 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 given a Sell rating to the company. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average price target of $314.85.

Insider Activity

In other news, insider Ben Borders sold 1,274 shares of Apple stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the sale, the insider directly owned 38,713 shares of the company’s stock, valued at approximately $11,226,770. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction dated 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 $3,675,650. This represents a 10.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,924 shares of company stock valued at $825,546 in the last three months. Insiders own 0.06% of the company’s stock.

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

Apple Trading Up 0.9%

Apple stock opened at $316.16 on Friday. The stock has a market cap of $4.64 trillion, a P/E ratio of 38.23, a PEG ratio of 2.73 and a beta of 1.10. 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 Inc. has a 1 year low of $201.50 and a 1 year high of $317.40. The firm’s 50 day moving average price is $298.65 and its 200-day moving average price is $274.97.

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 analysts’ consensus estimates of $1.95 by $0.06. The firm had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. Apple’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.65 earnings per share. On average, equities analysts predict 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 paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, May 11th. This is an increase from Apple’s previous quarterly dividend of $0.26. Apple’s dividend payout ratio is presently 13.06%.

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.