Apple Inc. $AAPL Shares Bought by Ground Swell Capital LLC

Ground Swell Capital LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 442.9% in the 1st quarter, Holdings Channel reports. The firm owned 6,010 shares of the iPhone maker’s stock after acquiring an additional 4,903 shares during the quarter. Apple comprises approximately 3.0% of Ground Swell Capital LLC’s holdings, making the stock its 5th biggest position. Ground Swell Capital LLC’s holdings in Apple were worth $1,525,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. Overbrook Management Corp increased its holdings in shares of Apple by 57.4% during the fourth quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock worth $28,449,000 after purchasing an additional 38,174 shares during the period. Rainier Family Wealth Inc. grew its position in Apple by 14.1% during the first quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker’s stock worth $6,189,000 after buying an additional 3,014 shares in the last quarter. Torren Management LLC bought a new position in Apple during the 4th quarter worth $1,178,000. Summit Wealth Partners LLC increased its stake in Apple by 108.3% during the 1st quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker’s stock worth $8,880,000 after acquiring an additional 18,188 shares during the period. Finally, Adventist Health System Sunbelt Healthcare Corp acquired a new position in Apple in the 4th quarter valued at $105,482,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AAPL has been the topic of several analyst reports. Oppenheimer reissued a “market perform” rating on shares of Apple in a report on Tuesday, June 9th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Apple in a research note on Monday, June 8th. Barclays reaffirmed an “underweight” rating on shares of Apple in a research report on Tuesday, June 9th. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a research note on Tuesday, June 9th. Finally, TD Cowen raised their target price on shares of Apple from $335.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $314.85.

Insider Activity

In other news, 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. This represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ben Borders sold 116 shares of the company’s 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 completion of the transaction, the insider directly owned 38,713 shares of the company’s stock, valued at $11,425,754.82. This represents a 0.30% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 2,924 shares of company stock worth $825,546. Company insiders own 0.06% of the company’s stock.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Reports that Apple plans at least five new iPhone models through early 2027, including a stronger foldable iPhone push, have reinforced expectations for a fresh product cycle and a longer growth runway. Apple plans five new iPhones through 2027, eyes Chinese-made chips amid foldable push, reports say
• Positive Sentiment: Apple also appears to be benefiting from investor optimism that it can navigate the memory-chip shortage and secure supply, including possible deals with lower-cost Chinese chipmakers, which could help protect future production. Apple negotiates with blacklisted Chinese chipmakers amid AI-driven memory crunch
• Positive Sentiment: Several market commentary pieces said Apple is holding up better than the broader tech sector, with traders viewing recent weakness as a buying opportunity and analysts still pointing to solid upside potential. Apple’s Aggressive Price Hikes Raise Eyebrows As Wall Street Links AI Chip Shortages To Inflation Pressure
• Neutral Sentiment: Apple’s recent price hikes on Macs and iPads are being interpreted two ways: as a sign of inflationary component costs, but also as a margin-protection move that may not hurt demand as much as feared. Jim Cramer’s Latest Thought on Apple Inc. (AAPL)
• Neutral Sentiment: Apple’s insider-selling activity and mixed institutional positioning are adding caution, but they are not the main driver of the stock today. Apple Stock (AAPL) Opinions on Recent Price Hikes and Analyst Views
• Negative Sentiment: Some coverage continues to flag pressure on Apple’s margins and demand if higher component costs force more price increases, which could weigh on sentiment over time. Is Apple stock in trouble? Rising costs threaten margins, demand

Apple Price Performance

Shares of AAPL opened at $308.63 on Monday. Apple Inc. has a 52 week low of $201.50 and a 52 week high of $317.40. The stock has a market capitalization of $4.53 trillion, a price-to-earnings ratio of 37.32, a PEG ratio of 2.68 and a beta of 1.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The stock has a fifty day moving average of $295.25 and a 200-day moving average of $273.84.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.06. The company had revenue of $111.18 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the business posted $1.65 EPS. As a group, sell-side 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 paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. Apple’s payout ratio is 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.