Sonoma Allocations LLC Increases Stock Position in Apple Inc. $AAPL

Sonoma Allocations LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 41.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,008 shares of the iPhone maker’s stock after purchasing an additional 4,137 shares during the quarter. Apple accounts for about 1.2% of Sonoma Allocations LLC’s holdings, making the stock its 19th biggest holding. Sonoma Allocations LLC’s holdings in Apple were worth $3,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. First National Bank of Hutchinson grew its position in Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after acquiring an additional 6,982 shares in the last quarter. Eagle Capital Management LLC raised its position in Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after purchasing an additional 272 shares in the last quarter. Brighton Jones LLC raised its position in Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after purchasing an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after purchasing an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE lifted its stake in Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after purchasing an additional 1,155 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Activity

In other news, CFO Kevan Parekh sold 1,534 shares of the company’s 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Deirdre O’brien sold 30,002 shares of the stock in a transaction dated 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 sale, the senior vice president 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 97,875 shares of company stock worth $24,998,541. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

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 company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. Apple Inc. has a 1 year low of $196.85 and a 1 year high of $317.40. The firm has a market cap of $4.38 trillion, a price-to-earnings ratio of 36.04, a PEG ratio of 2.59 and a beta of 1.09.

Apple (NASDAQ:AAPL) last announced 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. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. The business’s revenue was up 16.6% on a year-over-year basis. As a group, analysts predict that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Increases Dividend

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

More Apple News

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AAPL shares. Morgan Stanley set a $325.00 price objective on Apple in a research report on Tuesday, June 9th. Evercore reaffirmed an “outperform” rating on shares of Apple in a research note on Monday, June 8th. Wedbush reiterated an “outperform” rating and set a $400.00 price target on shares of Apple in a research report on Friday, June 5th. Bank of America reissued a “buy” rating and set a $380.00 price target on shares of Apple in a research note on Thursday. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Apple in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average price target of $314.59.

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.