Income Insurance Ltd Buys New Shares in Apple Inc. $AAPL

Income Insurance Ltd bought a new stake in Apple Inc. (NASDAQ:AAPL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 45,197 shares of the iPhone maker’s stock, valued at approximately $12,287,000. Apple accounts for approximately 8.0% of Income Insurance Ltd’s holdings, making the stock its 2nd largest position.

Several other hedge funds have also made changes to their positions in the stock. D Orazio & Associates Inc. lifted its stake in shares of Apple by 9.6% in the fourth quarter. D Orazio & Associates Inc. now owns 44,074 shares of the iPhone maker’s stock valued at $11,982,000 after buying an additional 3,869 shares during the period. Ballast Rock Private Wealth LLC bought a new stake in shares of Apple in the fourth quarter valued at about $7,965,000. Bryn Mawr Trust Advisors LLC lifted its stake in shares of Apple by 0.5% in the fourth quarter. Bryn Mawr Trust Advisors LLC now owns 370,978 shares of the iPhone maker’s stock valued at $100,854,000 after buying an additional 1,965 shares during the period. Garrett Wealth Advisory Group LLC lifted its stake in shares of Apple by 2.8% in the fourth quarter. Garrett Wealth Advisory Group LLC now owns 53,002 shares of the iPhone maker’s stock valued at $14,409,000 after buying an additional 1,462 shares during the period. Finally, Frontier Asset Management LLC lifted its stake in shares of Apple by 45.6% in the fourth quarter. Frontier Asset Management LLC now owns 1,385 shares of the iPhone maker’s stock valued at $377,000 after buying an additional 434 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $310.26 on Thursday. Apple Inc. has a 12-month low of $195.07 and a 12-month high of $316.94. 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 firm has a market capitalization of $4.56 trillion, a PE ratio of 37.52, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09. The firm has a 50-day moving average price of $279.10 and a 200 day moving average price of $270.84.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. During the same quarter in the prior year, the business posted $1.65 earnings per share. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. 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 disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a dividend of $0.27 per share. This is a positive change from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. Apple’s payout ratio is currently 13.06%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AAPL. Bank of America reiterated a “buy” rating and issued a $380.00 target price (up from $330.00) on shares of Apple in a research note on Tuesday, May 26th. Barclays reiterated an “underweight” rating and issued a $253.00 target price (up from $248.00) on shares of Apple in a research note on Friday, May 1st. Wedbush reiterated an “outperform” rating and issued a $400.00 target price (up from $350.00) on shares of Apple in a research note on Friday, May 8th. Evercore reiterated an “outperform” rating and issued a $365.00 target price on shares of Apple in a research note on Thursday, May 14th. Finally, Robert W. Baird set a $310.00 price target on shares of Apple in a research report on Friday, May 1st. One investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $312.82.

Insider Activity

In other Apple news, SVP Deirdre O’brien sold 30,002 shares of the company’s stock in a transaction dated 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 sale, the senior vice president directly owned 136,810 shares of the company’s stock, valued at approximately $34,934,433.50. This represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of the company’s stock in a transaction dated Thursday, April 23rd. The stock was 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 in the company, valued at $3,675,650. This represents a 10.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 97,759 shares of company stock valued at $24,964,305 over the last three months. 0.06% of the stock is owned by corporate insiders.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Multiple analysts reiterated bullish views on Apple ahead of WWDC, including Goldman Sachs keeping a Buy rating with a $340 target and Evercore ISI lifting its target to $365, citing Apple’s AI roadmap, ecosystem strength, and services growth. Article Title
• Positive Sentiment: Investor expectations remain high that Apple will unveil major AI updates at WWDC, especially a rebuilt Siri and deeper Apple Intelligence features, which could extend the stock’s recent rally. Article Title
• Positive Sentiment: Reports suggest Apple may expand its ecosystem with a native bill-splitting/payment feature in iOS, which could deepen user engagement and strengthen its services revenue stream. Article Title
• Positive Sentiment: Commentary around Apple’s stock has been upbeat, with articles highlighting outperformance versus the S&P 500 and strong demand for iPhones and Macs ahead of the conference. Article Title
• Neutral Sentiment: UBS said not to expect fireworks from WWDC and kept a Neutral rating, suggesting the event may not deliver a near-term stock catalyst if announcements disappoint. Article Title
• Neutral Sentiment: Apple’s recent gains and all-time high have also prompted valuation concerns, with some analysts and commentators warning the shares may already price in a lot of good news. Article Title
• Negative Sentiment: Reuters reported that Apple agreed to submit India business financials in an antitrust case, keeping regulatory risk in focus and raising the possibility of penalties. Article Title
• Negative Sentiment: Competitive headlines from Nvidia, Walmart, and others show mounting pressure on parts of Apple’s ecosystem, including PCs and payments, which could weigh on sentiment if rivals gain traction. 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.