7,941 Shares in Apple Inc. $AAPL Acquired by SB Capital Management Inc

SB Capital Management Inc purchased a new stake in Apple Inc. (NASDAQ:AAPL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,941 shares of the iPhone maker’s stock, valued at approximately $2,159,000. Apple accounts for approximately 0.8% of SB Capital Management Inc’s investment portfolio, making the stock its 29th biggest position.

Several other large investors have also recently added to or reduced their stakes in AAPL. Norges Bank acquired a new stake in Apple in the 4th quarter worth about $52,266,468,000. Nuveen LLC acquired a new position in shares of Apple during the 1st quarter worth approximately $17,472,482,000. Cardano Risk Management B.V. increased its holdings in shares of Apple by 890.7% during the fourth quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker’s stock worth $11,413,990,000 after purchasing an additional 37,746,784 shares during the period. Laurel Wealth Advisors LLC increased its holdings in shares of Apple by 20,464.8% during the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock worth $5,553,753,000 after purchasing an additional 26,937,401 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Apple by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock valued at $387,749,545,000 after buying an additional 26,856,752 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AAPL shares. Moffett Nathanson increased their price target on Apple from $241.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Monness Crespi & Hardt upped their target price on Apple from $315.00 to $335.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Jefferies Financial Group reissued a “hold” rating on shares of Apple in a report on Tuesday, June 9th. Evercore reaffirmed an “outperform” rating on shares of Apple in a research note on Monday, June 8th. Finally, TD Cowen upped their price objective on shares of Apple from $335.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $314.59.

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 30,002 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the completion of the transaction, the senior vice president directly owned 136,810 shares in the company, valued at $34,934,433.50. This represents a 17.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the completion of the transaction, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. The trade was a 10.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 97,875 shares of company stock valued at $24,998,541. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $298.01 on Friday. The stock’s 50-day simple moving average is $289.73 and its 200 day simple moving average is $272.98. The firm has a market capitalization of $4.38 trillion, a PE ratio of 36.04, a price-to-earnings-growth ratio of 2.59 and a beta of 1.09. 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 twelve month low of $196.85 and a twelve month high of $317.40.

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 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 business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.65 earnings per share. On average, analysts anticipate that Apple Inc. will post 8.75 EPS for the current fiscal year.

Apple Increases Dividend

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

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s planned price increases could protect margins as memory and storage costs rise, and Bank of America reiterated a Buy rating with a $380 target, citing Apple’s pricing power and supply-chain strength. Article Title
• Positive Sentiment: Reports of upcoming AI-focused devices and a second-generation iPhone Air support confidence in Apple’s product pipeline and longer-term growth story. Article Title
• Neutral Sentiment: Apple’s planned price hikes may help earnings, but they could also pressure demand if consumers balk at higher handset prices. Article Title
• Neutral Sentiment: Apple opening Brazil’s App Store to alternative marketplaces reduces regulatory friction there, but it also underscores ongoing global platform scrutiny. Article Title

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.