Icon Wealth Advisors LLC Buys 7,855 Shares of Apple Inc. $AAPL

Icon Wealth Advisors LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 127,299 shares of the iPhone maker’s stock after acquiring an additional 7,855 shares during the period. Apple comprises about 2.3% of Icon Wealth Advisors LLC’s investment portfolio, making the stock its 11th largest position. Icon Wealth Advisors LLC’s holdings in Apple were worth $34,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Cornerstone Financial Management LLC bought a new stake in shares of Apple during the fourth quarter worth $2,034,000. Dixon Mitchell Investment Counsel Inc. grew its holdings in shares of Apple by 0.3% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 124,938 shares of the iPhone maker’s stock worth $34,028,000 after purchasing an additional 320 shares during the last quarter. E6 Portfolios LLC bought a new stake in shares of Apple during the fourth quarter worth $1,908,000. Eagle Bluffs Wealth Management LLC grew its holdings in shares of Apple by 3.8% during the fourth quarter. Eagle Bluffs Wealth Management LLC now owns 7,293 shares of the iPhone maker’s stock worth $1,983,000 after purchasing an additional 269 shares during the last quarter. Finally, Eaton Cambridge Inc. grew its holdings in shares of Apple by 2.7% during the fourth quarter. Eaton Cambridge Inc. now owns 11,518 shares of the iPhone maker’s stock worth $3,131,000 after purchasing an additional 303 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s Services business posted record revenue in the fiscal second quarter, supported by ecosystem growth, AI-related updates, and its huge installed device base. Apple Continues to Expand Services Business: What’s the Path Ahead?
• Positive Sentiment: Several commentators said Apple still has strong fundamentals, including a solid balance sheet, loyal customer base, and products investors continue to love, which supports the long-term bull case. Jim Cramer on Apple: “It Still Has Products We All Love”
• Positive Sentiment: Analysts at Erste Group Bank raised their earnings estimates for Apple, signaling expectations for steady profit growth over the next two fiscal years. Apple earnings estimate update
• Neutral Sentiment: Apple’s WWDC announcements showed a clearer AI roadmap, including next-generation Siri features and device software updates, but the market appears to be waiting for stronger evidence that these changes will drive meaningful revenue growth. Apple Unveils Siri AI. Here’s Why It’s Not Impressing Investors
• Neutral Sentiment: Some coverage suggested Apple’s AI launch could help the stock over time, but it may take more than Siri upgrades alone to restore investor enthusiasm. Apple Just Gave Investors a Glimpse of Is AI Future at WWDC. It May Take More to Revive AAPL Stock.
• Negative Sentiment: Investors are worried Apple’s AI ambitions are colliding with a memory-cost crunch, creating pricing pressure that could weigh on margins. Apple Faces a No-Win Pricing Dilemma. Should Investors Be Worried?
• Negative Sentiment: Multiple reports say the market was disappointed that Apple’s Siri AI reveal did not feel like a big enough breakthrough to justify a sharper rerating of the stock. Apple’s AI News Underwhelms. Siri AI Release Concerns Persist.

Insiders Place Their Bets

In other news, SVP Deirdre O’brien sold 30,002 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the sale, the senior vice president owned 136,810 shares of the company’s stock, valued at $34,934,433.50. This trade represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of the firm’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 sale, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $3,675,650. This represents a 10.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 97,759 shares of company stock worth $24,964,305. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Oppenheimer reissued a “market perform” rating on shares of Apple in a research note on Tuesday, June 9th. Robert W. Baird set a $310.00 price objective on Apple in a research report on Friday, May 1st. Evercore reissued an “outperform” rating on shares of Apple in a research note on Monday, June 8th. Monness Crespi & Hardt lifted their target price on Apple from $315.00 to $335.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $276.00 price target on shares of Apple in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $314.59.

Apple Price Performance

Apple stock opened at $291.13 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. Apple Inc. has a 12-month low of $195.07 and a 12-month high of $317.40. The stock has a market cap of $4.28 trillion, a price-to-earnings ratio of 35.20, a P/E/G ratio of 2.53 and a beta of 1.09. The business’s 50-day simple moving average is $285.64 and its 200 day simple moving average is $272.25.

Apple (NASDAQ:AAPL) last issued its 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 firm had revenue of $111.18 billion for the quarter, compared to analysts’ expectations of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company’s revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.65 earnings per share. As a group, research analysts anticipate that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a dividend of $0.27 per share. This is an increase from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, May 11th. Apple’s payout ratio is 13.06%.

About Apple

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.