Apple Inc. $AAPL is Mine & Arao Wealth Creation & Management LLC.’s 4th Largest Position

Mine & Arao Wealth Creation & Management LLC. reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 87,670 shares of the iPhone maker’s stock after selling 1,791 shares during the quarter. Apple comprises approximately 9.3% of Mine & Arao Wealth Creation & Management LLC.’s portfolio, making the stock its 4th largest holding. Mine & Arao Wealth Creation & Management LLC.’s holdings in Apple were worth $22,250,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. Vanguard Group Inc. grew its holdings in shares of Apple by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock valued at $387,749,545,000 after acquiring an additional 26,856,752 shares in the last quarter. State Street Corp raised its holdings in shares of Apple by 1.1% during the fourth quarter. State Street Corp now owns 604,056,505 shares of the iPhone maker’s stock worth $164,218,801,000 after acquiring an additional 6,555,392 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Apple by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker’s stock worth $97,031,587,000 after acquiring an additional 1,866,103 shares in the last quarter. Morgan Stanley boosted its position in Apple by 0.6% during the fourth quarter. Morgan Stanley now owns 230,483,035 shares of the iPhone maker’s stock valued at $62,659,118,000 after purchasing an additional 1,379,651 shares during the last quarter. Finally, Norges Bank acquired a new stake in Apple during the fourth quarter valued at $52,266,468,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Up 0.4%

Shares of NASDAQ:AAPL opened at $327.74 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $4.81 trillion, a PE ratio of 39.63, a P/E/G ratio of 2.84 and a beta of 1.10. Apple Inc. has a 1 year low of $201.50 and a 1 year high of $334.99. The firm has a fifty day moving average price of $304.95 and a 200 day moving average price of $277.89.

Apple (NASDAQ:AAPL) last posted its earnings results 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 company had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. During the same period last year, the company earned $1.65 earnings per share. The business’s revenue was up 16.6% compared to the same quarter last year. Analysts expect that Apple Inc. will post 8.76 EPS for the current fiscal year.

Apple Increases Dividend

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

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is reportedly launching a new device leasing program with Klarna, a major change to how it sells hardware that could support upgrade demand and recurring device sales. Reuters: Apple to launch ‘Upgrade’ device leasing program to spur sales, Bloomberg News reports
• Positive Sentiment: HSBC upgraded Apple, saying it is entering a powerful new upgrade cycle supported by AI and a strong hardware roadmap. Barchart: HSBC Says Apple Is Entering a Powerful New Upgrade Cycle
• Positive Sentiment: Several commentators highlighted Apple’s pricing power, strong installed base, and relative insulation from the AI capex arms race as reasons investors are favoring AAPL over some other mega-cap tech names. MarketBeat: Apple Stock Sends Major Warning Signal as Momentum Hits Peak

Analyst Ratings Changes

A number of brokerages have commented on AAPL. Monness Crespi & Hardt boosted their target price on Apple from $315.00 to $335.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Wells Fargo & Company reaffirmed an “overweight” rating and set a $310.00 price target (up from $300.00) on shares of Apple in a research note on Friday, May 1st. Maxim Group reiterated a “buy” rating and set a $350.00 price target (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. Sanford C. Bernstein reissued an “outperform” rating on shares of Apple in a research note on Monday, June 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Apple in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $325.71.

Insider Buying and Selling

In related news, insider Ben Borders sold 1,274 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the transaction, the insider directly owned 38,713 shares of the company’s stock, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevan Parekh sold 1,534 shares of the business’s 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 sale, the chief financial officer owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,924 shares of company stock worth $825,546 over the last three months. 0.06% of the stock is 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.