Apple Inc. $AAPL Stock Position Increased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 286,398 shares of the iPhone maker’s stock after buying an additional 4,072 shares during the period. Apple makes up about 4.8% of Frank Rimerman Advisors LLC’s investment portfolio, making the stock its 4th largest holding. Frank Rimerman Advisors LLC’s holdings in Apple were worth $72,685,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Overbrook Management Corp raised its stake in shares of Apple by 57.4% in the fourth quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock worth $28,449,000 after purchasing an additional 38,174 shares during the last quarter. Rainier Family Wealth Inc. boosted its position in shares of Apple by 14.1% during the first quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker’s stock valued at $6,189,000 after buying an additional 3,014 shares during the last quarter. Torren Management LLC purchased a new stake in shares of Apple during the fourth quarter valued at $1,178,000. Summit Wealth Partners LLC increased its holdings in Apple by 108.3% in the 1st quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker’s stock worth $8,880,000 after buying an additional 18,188 shares in the last quarter. Finally, Adventist Health System Sunbelt Healthcare Corp bought a new stake in Apple in the 4th quarter worth about $105,482,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Up 0.4%

Apple stock opened at $327.74 on Wednesday. Apple Inc. has a one year low of $201.50 and a one year high of $334.99. The stock has a fifty day moving average of $304.95 and a 200 day moving average of $277.89. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The stock has a market cap of $4.81 trillion, a PE ratio of 39.63, a price-to-earnings-growth ratio of 2.84 and a beta of 1.10.

Apple (NASDAQ:AAPL) last announced its 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 analysts’ expectations of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period last year, the firm posted $1.65 earnings per share. As a group, sell-side analysts predict that Apple Inc. will post 8.76 EPS for the current year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a $0.27 dividend. This is a boost 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 dividend yield of 0.3%. Apple’s dividend payout ratio (DPR) is currently 13.06%.

Analyst Ratings Changes

Several research firms have issued reports on AAPL. Royal Bank Of Canada set a $365.00 target price on shares of Apple in a research note on Wednesday, July 15th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $276.00 price target on shares of Apple in a report on Tuesday, June 9th. KGI Securities lowered shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 price target for the company. in a research note on Monday, June 22nd. Tigress Financial reissued a “strong-buy” rating and set a $375.00 price objective (up from $305.00) on shares of Apple in a report on Thursday, May 14th. Finally, TD Cowen increased their price objective on shares of Apple from $335.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. One research 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus 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 shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the transaction, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the sale, the chief financial officer owned 13,366 shares of the company’s stock, valued at $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 2,924 shares of company stock worth $825,546. 0.06% of the stock is currently owned by insiders.

Key Stories Impacting Apple

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

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.