Rainier Family Wealth Inc. Has $6.19 Million Position in Apple Inc. $AAPL

Rainier Family Wealth Inc. boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 14.1% in the first quarter, Holdings Channel.com reports. The fund owned 24,386 shares of the iPhone maker’s stock after acquiring an additional 3,014 shares during the quarter. Apple comprises 4.2% of Rainier Family Wealth Inc.’s portfolio, making the stock its 4th biggest holding. Rainier Family Wealth Inc.’s holdings in Apple were worth $6,189,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Isthmus Partners LLC increased its stake in Apple by 6.4% in the 3rd quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker’s stock worth $25,000 after buying an additional 5,808 shares during the period. Lifetime Wealth Management P.C. purchased a new stake in Apple in the 4th quarter valued at about $41,000. ROSS JOHNSON & Associates LLC increased its position in shares of Apple by 1,800.0% during the first 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 period. LSV Asset Management purchased a new position in shares of Apple during the fourth quarter worth approximately $65,000. Finally, Timmons Wealth Management LLC bought a new stake in shares of Apple during the fourth quarter valued at approximately $69,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AAPL shares. Sanford C. Bernstein reissued an “outperform” rating on shares of Apple in a research note on Monday, June 8th. DA Davidson reiterated a “neutral” rating and issued a $270.00 target price on shares of Apple in a report on Friday, May 1st. Oppenheimer reissued a “market perform” rating on shares of Apple in a research report on Tuesday, June 9th. Citigroup restated a “buy” rating on shares of Apple in a report on Monday, June 1st. Finally, Monness Crespi & Hardt upped 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. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $314.85.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 64,949 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total value of $16,511,984.27. Following the completion of the sale, the chief executive officer owned 3,280,418 shares of the company’s stock, valued at approximately $833,980,668.14. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 1,274 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the sale, the insider owned 38,713 shares in the company, valued at $11,226,770. The trade was a 3.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 97,875 shares of company stock valued at $24,998,541 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 3.3%

NASDAQ:AAPL opened at $284.29 on Friday. The stock has a market capitalization of $4.18 trillion, a price-to-earnings ratio of 34.38, a PEG ratio of 2.47 and a beta of 1.09. Apple Inc. has a 52 week low of $199.26 and a 52 week high of $317.40. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average of $292.51 and a 200 day moving average of $273.20.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.06. The business had revenue of $111.18 billion for the quarter, compared to analyst estimates 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 in the previous year, the company earned $1.65 earnings per share. As a group, sell-side analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were paid a dividend of $0.27 per share. This is a positive change from Apple’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. This represents a $1.08 annualized dividend and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 13.06%.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Some analysts and traders see the recent decline as overdone, arguing that Apple’s pullback has created an attractive entry point and that the stock is oversold at support. Stock Of The Day: Is The Apple Sell-Off Over?
• Positive Sentiment: Morgan Stanley reiterated a Buy rating on AAPL, saying Apple’s pricing and margin-defense strategy supports upside and leaving its $360 target unchanged. Apple Buy Rating Reiterated as Margin Defense Strategy Supports Upside; $360 Price Target Unchanged
• Neutral Sentiment: Wall Street remains divided on the broader implications of Apple’s recent price hikes, with some analysts saying the company can pass through costs thanks to its loyal customer base, while others warn the iPhone will be the real test. Apple Can Get Away With Mac Price Hikes, but iPhone Is the Real Test
• Negative Sentiment: Apple raised prices on several Mac and iPad models because surging memory and storage chip costs tied to AI demand are squeezing margins, raising concerns that higher prices could hurt demand and signal more pressure ahead. Apple raises prices of MacBooks, iPads as memory costs skyrocket
• Negative Sentiment: Apple also lost a key Vision Pro hardware executive to OpenAI, adding to investor concern about execution in its spatial-computing and AI efforts. Apple (AAPL) Loses Key Vision Pro Hardware Chief to OpenAI in Major Talent Blow

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.