Apple Inc. $AAPL Stock Holdings Lessened by BXM Wealth LLC

BXM Wealth LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 88.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,538 shares of the iPhone maker’s stock after selling 178,556 shares during the period. Apple comprises 4.6% of BXM Wealth LLC’s portfolio, making the stock its 2nd largest position. BXM Wealth LLC’s holdings in Apple were worth $5,974,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Lifetime Wealth Management P.C. purchased a new stake in Apple in the 4th quarter worth approximately $41,000. ROSS JOHNSON & Associates LLC increased its stake in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 180 shares during the period. Timmons Wealth Management LLC purchased a new position in shares of Apple during the fourth quarter valued at approximately $69,000. LSV Asset Management bought a new position in shares of Apple during the fourth quarter valued at approximately $65,000. Finally, Inspire Investing LLC bought a new position in shares of Apple during the fourth quarter valued at approximately $76,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AAPL shares. Monness Crespi & Hardt lifted their price target on shares of Apple from $315.00 to $335.00 and gave the company a “buy” rating in a report on Friday, May 1st. Tigress Financial restated a “strong-buy” rating and issued a $375.00 price objective (up from $305.00) on shares of Apple in a report on Thursday, May 14th. Bank of America reaffirmed a “buy” rating and issued a $380.00 target price on shares of Apple in a research report on Thursday, June 18th. BNP Paribas Exane raised shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 target price on the stock in a research note on Friday, April 17th. Finally, Barclays reaffirmed an “underweight” rating on shares of Apple in a research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.85.

Apple Stock Performance

Shares of AAPL opened at $313.39 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The business’s 50 day moving average price is $297.74 and its 200-day moving average price is $274.68. Apple Inc. has a 52 week low of $201.50 and a 52 week high of $317.40. The stock has a market cap of $4.60 trillion, a P/E ratio of 37.89, a P/E/G ratio of 2.70 and a beta of 1.10.

Apple (NASDAQ:AAPL) last posted 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 during the quarter, compared to analyst estimates of $109.46 billion. During the same quarter last year, the company earned $1.65 EPS. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. Equities research analysts anticipate 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. Stockholders of record on Monday, May 11th were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. This is a boost from Apple’s previous quarterly dividend of $0.26. Apple’s payout ratio is presently 13.06%.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: The Broadcom agreement should improve Apple’s supply chain resiliency, reduce reliance on overseas suppliers, and strengthen its domestic manufacturing story. Apple to increase spend with Broadcom to produce billions more U.S. chips
• Positive Sentiment: Wall Street is also taking the deal as a sign that Apple is investing aggressively in its long-term chip and AI infrastructure, which could support future product launches and margin stability. Apple Announces Broadcom Chip Deal Worth More Than $30 Billion
• Neutral Sentiment: Apple also lost an EU court challenge to the bloc’s Digital Markets Act, leaving its App Store and iOS under tougher antitrust obligations in Europe, but investors appear to be focusing more on the chip deal today. EU court rejects Apple’s challenge against EU rules reining in Big Tech
• Neutral Sentiment: Separately, JPMorgan said recent hardware price increases are unlikely to hurt demand, reinforcing the view that Apple’s pricing power remains intact heading into earnings later this month. Apple price hikes unlikely to hurt demand, JPMorgan says as it raises PT

Insider Activity

In related news, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the sale, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. This represents a 10.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ben Borders sold 1,274 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the sale, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 2,924 shares of company stock valued at $825,546. 0.06% of the stock is owned by insiders.

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.