5,624 Shares in Apple Inc. $AAPL Acquired by Hanseatic Management Services Inc.

Hanseatic Management Services Inc. purchased a new stake in shares of Apple Inc. (NASDAQ:AAPL) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 5,624 shares of the iPhone maker’s stock, valued at approximately $1,427,000. Apple makes up 1.4% of Hanseatic Management Services Inc.’s investment portfolio, making the stock its 27th largest position.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Reyes Financial Architecture Inc. raised its holdings in shares of Apple by 0.4% in the 3rd quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock valued at $2,520,000 after purchasing an additional 37 shares in the last quarter. WESPAC Advisors LLC boosted its stake in shares of Apple by 0.3% during the fourth quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker’s stock valued at $3,351,000 after purchasing an additional 39 shares in the last quarter. Interactive Financial Advisors Inc. increased its holdings in Apple by 4.0% during the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock valued at $286,000 after buying an additional 40 shares during the period. Sugar Maple Asset Management LLC increased its holdings in Apple by 2.0% during the first quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker’s stock valued at $515,000 after buying an additional 40 shares during the period. Finally, Orion Investment Co raised its stake in Apple by 0.3% in the fourth quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker’s stock worth $3,902,000 after buying an additional 41 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Ben Borders sold 1,274 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the transaction, the insider directly owned 38,713 shares of the company’s stock, valued at $11,226,770. This represents a 3.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Rosenblatt Securities upped their target price on Apple from $276.00 to $300.00 and gave the stock a “neutral” rating in a report on Friday. JPMorgan Chase & Co. cut their price target on Apple from $345.00 to $340.00 and set an “overweight” rating on the stock in a report on Friday. Wedbush reissued an “outperform” rating and issued a $400.00 price target on shares of Apple in a research report on Friday, June 5th. Morgan Stanley decreased their price objective on Apple from $364.00 to $360.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Bank of America reaffirmed a “buy” rating and set a $380.00 price objective on shares of Apple in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $331.60.

Apple Trading Down 1.8%

NASDAQ:AAPL opened at $303.42 on Tuesday. The firm has a 50 day moving average of $309.40 and a 200 day moving average of $281.90. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Apple Inc. has a 52 week low of $201.68 and a 52 week high of $344.57. The stock has a market capitalization of $4.46 trillion, a price-to-earnings ratio of 34.80, a PEG ratio of 2.65 and a beta of 1.09.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The business had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. During the same period in the prior year, the firm posted $1.57 earnings per share. The business’s quarterly revenue was up 16.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Apple Inc. will post 8.8 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, August 10th. Apple’s payout ratio is 12.39%.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: India proposed extending tax exemptions through 2041 for foreign companies supplying equipment to contract manufacturers. The policy could lower Apple’s manufacturing costs and support its strategy of shifting more iPhone production to India. India proposes extending tax breaks for contract manufacturing in a boost for Apple
• Positive Sentiment: Apple continues to generate substantial free cash flow, with analysts expecting strong cash generation to continue alongside higher revenue forecasts. This supports shareholder returns and provides financial flexibility, although the stock’s valuation limits the upside case. Apple Delivers Strong Free Cash Flow, But What is the Best AAPL Play?
• Positive Sentiment: A reported deal with PlasmaSolve could help Apple develop thinner, stronger device finishes by using software simulations before factory testing, potentially improving manufacturing yields and reducing testing costs. Apple Stock Drops as PlasmaSolve Deal Targets Thinner and Stronger Devices

About Apple

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.