Apple Inc. $AAPL Stake Trimmed by Aurora Private Wealth Inc.

Aurora Private Wealth Inc. lowered its position in Apple Inc. (NASDAQ:AAPL) by 7.1% in the 1st quarter, Holdings Channel reports. The firm owned 23,678 shares of the iPhone maker’s stock after selling 1,799 shares during the quarter. Apple accounts for approximately 4.6% of Aurora Private Wealth Inc.’s portfolio, making the stock its 2nd biggest position. Aurora Private Wealth Inc.’s holdings in Apple were worth $6,437,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Reyes Financial Architecture Inc. grew its position in Apple by 0.4% in the 3rd quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock valued at $2,520,000 after acquiring an additional 37 shares during the last quarter. WESPAC Advisors LLC boosted its stake in shares of Apple by 0.3% during the fourth quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker’s stock valued at $3,351,000 after purchasing an additional 39 shares during the period. Interactive Financial Advisors Inc. grew its holdings in shares of Apple by 4.0% in the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock worth $286,000 after purchasing an additional 40 shares during the last quarter. Orion Investment Co increased its stake 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 buying an additional 41 shares during the period. Finally, Seven Springs Wealth Group LLC increased its stake in Apple by 0.3% in the 3rd quarter. Seven Springs Wealth Group LLC now owns 15,451 shares of the iPhone maker’s stock worth $3,934,000 after buying an additional 42 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Trading Down 0.4%

AAPL opened at $293.05 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The firm has a market cap of $4.30 trillion, a price-to-earnings ratio of 35.44, a PEG ratio of 2.56 and a beta of 1.09. Apple Inc. has a 12 month low of $199.26 and a 12 month high of $317.40. The stock has a fifty day moving average price of $291.83 and a 200-day moving average price of $273.15.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. During the same quarter last year, the company earned $1.65 earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

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

Analysts Set New Price Targets

AAPL has been the subject of several research reports. Bank of America reissued a “buy” rating and issued a $380.00 price objective on shares of Apple in a research report on Thursday, June 18th. UBS Group reaffirmed a “buy” rating on shares of Apple in a research note on Tuesday, June 9th. Tigress Financial reiterated a “strong-buy” rating and issued a $375.00 price target (up from $305.00) on shares of Apple in a report on Thursday, May 14th. Oppenheimer reissued a “market perform” rating on shares of Apple in a research note on Tuesday, June 9th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $310.00 price objective (up from $300.00) on shares of Apple in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $314.85.

Insider Activity

In other news, insider Ben Borders sold 116 shares of Apple stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the transaction, the insider owned 38,713 shares of the company’s stock, valued at $11,425,754.82. The trade was a 0.30% decrease in their position. The sale was disclosed in a filing 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, SVP Deirdre O’brien sold 30,002 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president owned 136,810 shares of the company’s stock, valued at approximately $34,934,433.50. This trade represents a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 97,875 shares of company stock valued at $24,998,541 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s new Siri and broader AI reset is being viewed positively by analysts, with BofA reiterating a Buy rating and saying the WWDC update could strengthen Apple’s AI position and support the stock. BofA Says Apple’s (AAPL) New Siri Strategy Could Strengthen its AI Position
• Positive Sentiment: Apple’s reported chip partnership with Intel is being framed as strategically important, with investors focused on supply-chain diversification and a longer-term domestic chip roadmap that could benefit future product cycles. Apple-Intel chip deal makes strategic sense but production is years away
• Positive Sentiment: Several market commentaries say Apple shares are building toward a possible breakout, with the stock staying close to its all-time high and forming a fresh buy zone as momentum improves. Apple Stock Polishing New Buy Zone With All-Time High In Sight
• Neutral Sentiment: Apple is also drawing attention for comments from Eddy Cue about expanding entertainment offerings on Apple TV and in theaters, which supports the long-term services story but is not an immediate earnings catalyst. Apple aims for better and more entertainment offerings, executive Cue says
• Negative Sentiment: Investors are still weighing headwinds from rising memory costs and the possibility of iPhone price increases, which could pressure demand if Apple passes through higher component prices. Apple Price Hike Fears May Be Overblown, Says J.P. Morgan
• Negative Sentiment: Apple also faces legal overhang after a UK tribunal allowed a $4 billion iCloud class-action lawsuit to proceed, adding another potential regulatory and financial risk. Apple supplier Lingyi iTech prices $1.06 billion Hong Kong IPO to tap AI demand

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.