Floyd Financial Group LLC Boosts Holdings in Apple Inc. $AAPL

Floyd Financial Group LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 643.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,548 shares of the iPhone maker’s stock after purchasing an additional 7,398 shares during the quarter. Apple comprises approximately 1.5% of Floyd Financial Group LLC’s holdings, making the stock its 20th biggest position. Floyd Financial Group LLC’s holdings in Apple were worth $2,262,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AAPL. First National Bank of Hutchinson increased its holdings 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 valued at $8,845,000 after buying an additional 6,982 shares in the last quarter. Eagle Capital Management LLC boosted its stake in shares of Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after acquiring an additional 272 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after acquiring an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after acquiring an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE increased its stake in shares of Apple by 2.4% in the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after purchasing an additional 1,155 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Key Headlines Impacting Apple

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

Insider Activity at Apple

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the company’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ben Borders sold 116 shares of the firm’s 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 transaction, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 97,875 shares of company stock worth $24,998,541 over the last quarter. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $298.01 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The stock has a market capitalization of $4.38 trillion, a P/E ratio of 36.04, a PEG ratio of 2.59 and a beta of 1.09. The firm’s 50-day moving average is $289.73 and its two-hundred day moving average is $272.98. Apple Inc. has a 12 month low of $196.85 and a 12 month high of $317.40.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The business 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 business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period last year, the business earned $1.65 earnings per share. On average, sell-side analysts anticipate that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend 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 13.06%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wedbush reissued an “outperform” rating and issued a $400.00 price target on shares of Apple in a research note on Friday, June 5th. DA Davidson reiterated a “neutral” rating and issued a $270.00 price objective on shares of Apple in a report on Friday, May 1st. 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 research note on Friday, May 1st. Oppenheimer restated a “market perform” rating on shares of Apple in a report on Tuesday, June 9th. Finally, Maxim Group restated 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. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price 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.