Apple Inc. $AAPL Shares Sold by GK Wealth Management LLC

GK Wealth Management LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 67.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 8,730 shares of the iPhone maker’s stock after selling 18,430 shares during the quarter. Apple comprises 1.3% of GK Wealth Management LLC’s investment portfolio, making the stock its 16th biggest holding. GK Wealth Management LLC’s holdings in Apple were worth $2,527,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Evansbrook LLC raised its holdings in Apple by 0.4% during the first quarter. Evansbrook LLC now owns 8,095 shares of the iPhone maker’s stock worth $2,054,000 after purchasing an additional 34 shares in the last quarter. JMG Financial Group Ltd. boosted its holdings in shares of Apple by 0.7% in the 1st quarter. JMG Financial Group Ltd. now owns 5,102 shares of the iPhone maker’s stock valued at $1,295,000 after buying an additional 35 shares in the last quarter. Reyes Financial Architecture Inc. boosted its holdings in shares of Apple by 0.4% in the 3rd quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock valued at $2,520,000 after buying an additional 37 shares in the last quarter. Interactive Financial Advisors Inc. grew its position in shares of Apple by 4.0% in the 4th quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock valued at $286,000 after buying an additional 40 shares during the last quarter. Finally, Sugar Maple Asset Management LLC grew its position in shares of Apple by 2.0% in the 1st quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker’s stock valued at $515,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Analyst upgrade and bullish outlook: Rothschild & Co. Redburn upgraded Apple from “Neutral” to “Buy” and raised its price target to $400, implying substantial upside. Morgan Stanley also identified Apple among large-cap technology stocks showing a bullish technical signal. Apple stock upgrade and price target
• Positive Sentiment: Apple positioned as an AI and volatility hedge: Analysts argue that Apple’s restrained AI infrastructure spending limits capital-expenditure and valuation risk relative to peers committing hundreds of billions of dollars to AI. Some investors also view Apple as an underappreciated AI beneficiary through its installed base and potential improvements to Siri. Apple’s low AI spending
• Positive Sentiment: Macro support: Retreating Treasury yields helped restore demand for mega-cap technology stocks, while Apple showed relative strength even as semiconductor shares and parts of the technology sector weakened. Apple stock and Treasury yields
• Positive Sentiment: Product optionality: Reports that a future foldable iPhone could support an estimated 11% increase in average iPhone prices provide a potential catalyst for revenue and margin growth, although the product remains unannounced. Apple foldable iPhone outlook

Apple Stock Performance

Shares of AAPL opened at $316.83 on Thursday. The stock has a market capitalization of $4.62 trillion, a P/E ratio of 36.33, a P/E/G ratio of 2.66 and a beta of 1.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00. Apple Inc. has a 1 year low of $223.78 and a 1 year high of $344.57. The company’s fifty day moving average is $309.95 and its two-hundred day moving average is $286.52.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The business had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. During the same quarter in the previous year, the firm earned $1.57 earnings per share. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, sell-side analysts predict that Apple Inc. will post 8.76 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Apple’s payout ratio is currently 12.39%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AAPL. Maxim Group reissued a “buy” rating and issued a $350.00 price target (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. Evercore reaffirmed an “outperform” rating on shares of Apple in a report on Wednesday, July 8th. China Renaissance cut Apple from a “buy” rating to a “hold” rating and set a $280.00 target price on the stock. in a research report on Tuesday, August 4th. Wedbush reissued an “outperform” rating and issued a $400.00 target price on shares of Apple in a report on Friday, June 5th. Finally, KGI Securities downgraded Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price for the company. in a report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $330.53.

Insider Activity at Apple

In related news, SVP Jennifer Newstead sold 1,439 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $307.75, for a total transaction of $442,852.25. Following the transaction, the senior vice president owned 40,107 shares of the company’s stock, valued at $12,342,929.25. This represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ben Borders sold 116 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the transaction, the insider owned 38,713 shares of the company’s stock, valued at $11,425,754.82. The trade was 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. Insiders own 0.06% of the company’s stock.

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.