Apple Inc. $AAPL is Lee Danner & Bass Inc.’s 4th Largest Position

Lee Danner & Bass Inc. lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 222,332 shares of the iPhone maker’s stock after purchasing an additional 1,627 shares during the period. Apple comprises about 3.5% of Lee Danner & Bass Inc.’s investment portfolio, making the stock its 4th biggest position. Lee Danner & Bass Inc.’s holdings in Apple were worth $56,426,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Lifetime Wealth Management P.C. purchased a new stake in Apple during the 4th quarter valued at about $41,000. ROSS JOHNSON & Associates LLC grew its position in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares during the last quarter. Timmons Wealth Management LLC purchased a new position in Apple in the 4th quarter worth approximately $69,000. LSV Asset Management bought a new stake in Apple in the fourth quarter valued at approximately $65,000. Finally, Inspire Investing LLC bought a new stake in Apple in the fourth quarter valued at approximately $76,000. 67.73% of the stock is owned by institutional investors.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: HSBC upgraded Apple Inc. (NASDAQ: AAPL) to Buy and raised its price target to $366 from $260, saying the company is at an operational turning point with AI features and hardware momentum supporting growth. HSBC upgrades Apple to Buy, sees “strong cycle ahead”
• Positive Sentiment: China approved Apple Intelligence for iPhones, and Apple will integrate Alibaba’s Qwen AI model in its China rollout, a key step that could expand Apple’s AI adoption in one of its most important markets. Alibaba and Baidu shares jump in Hong Kong on Apple AI partnership
• Positive Sentiment: Multiple reports say Apple briefly overtook Nvidia in market value, reinforcing the view that investors are rotating toward Apple’s consumer execution and away from some AI-heavy names. Apple closes in on Nvidia in race for world’s most valuable company
• Positive Sentiment: Several commentaries highlighted Apple’s cash generation, shareholder returns, and robotics/innovation efforts, supporting the bullish “cash flow machine” and diversification narrative. Apple’s Core Business Cash Flow Machine Will Support Innovation and Diversification

Apple Stock Up 0.1%

Shares of Apple stock opened at $333.74 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. Apple Inc. has a 12-month low of $201.50 and a 12-month high of $334.99. The company has a market cap of $4.90 trillion, a P/E ratio of 40.36, a PEG ratio of 2.89 and a beta of 1.10. The company’s fifty day simple moving average is $303.61 and its two-hundred day simple moving average is $277.09.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. The firm had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the company posted $1.65 EPS. Research analysts anticipate that Apple Inc. will post 8.76 EPS for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were paid a $0.27 dividend. The ex-dividend date of this dividend was Monday, May 11th. This is an increase from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple’s payout ratio is currently 13.06%.

Analyst Ratings Changes

Several brokerages have recently issued reports on AAPL. Monness Crespi & Hardt raised their target price on shares of Apple from $315.00 to $335.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Apple in a research report on Wednesday. Wedbush reissued an “outperform” rating and set a $400.00 price target on shares of Apple in a research report on Friday, June 5th. Rosenblatt Securities reissued a “neutral” rating and issued a $276.00 price target on shares of Apple in a report on Tuesday, June 9th. Finally, UBS Group set a $250.00 price objective on shares of Apple in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $318.43.

Insider Activity

In other Apple news, insider Ben Borders sold 116 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the transaction, the insider owned 38,713 shares in the company, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of the 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 directly owned 13,366 shares of the company’s stock, valued at $3,675,650. This represents a 10.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 2,924 shares of company stock valued at $825,546 over the last 90 days. 0.06% of the stock is currently owned by company 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.