Sonoma Allocations LLC Buys 4,137 Shares of Apple Inc. $AAPL

Sonoma Allocations LLC increased its stake in Apple Inc. (NASDAQ:AAPL) by 41.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,008 shares of the iPhone maker’s stock after buying an additional 4,137 shares during the period. Apple accounts for 1.2% of Sonoma Allocations LLC’s portfolio, making the stock its 19th largest position. 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).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Isthmus Partners LLC boosted its position in shares of Apple by 6.4% during the third quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker’s stock valued at $25,000 after purchasing an additional 5,808 shares in the last quarter. ROSS JOHNSON & Associates LLC raised its holdings in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares in the last quarter. LSV Asset Management bought a new position in Apple in the fourth quarter worth $65,000. Timmons Wealth Management LLC purchased a new position in Apple during the fourth quarter valued at $69,000. Finally, Inspire Investing LLC bought a new stake in shares of Apple during the 4th quarter valued at $76,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

AAPL opened at $298.01 on Friday. The firm has a market cap of $4.38 trillion, a PE ratio of 36.04, a P/E/G ratio of 2.59 and a beta of 1.09. The stock has a 50-day moving average price of $289.73 and a 200-day moving average price of $272.98. Apple Inc. has a 1 year low of $196.85 and a 1 year high of $317.40. 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 (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating the consensus estimate of $1.95 by $0.06. The company had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. Apple’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.65 EPS. Sell-side analysts predict that Apple Inc. will post 8.75 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently declared 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 was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio is currently 13.06%.

Insider Activity

In related news, SVP Deirdre O’brien sold 30,002 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the completion of the sale, the senior vice president owned 136,810 shares of the company’s stock, valued at $34,934,433.50. This trade represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 transaction of $421,850.00. Following the completion of the transaction, the chief financial officer owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 97,875 shares of company stock worth $24,998,541 over the last three months. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AAPL shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research report on Tuesday, June 9th. Monness Crespi & Hardt boosted their price objective 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. Evercore restated an “outperform” rating on shares of Apple in a report on Monday, June 8th. Morgan Stanley set a $325.00 target price on shares of Apple in a research note on Tuesday, June 9th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $310.00 target price (up from $300.00) on shares of Apple in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $314.59.

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

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.