Tempo Wealth LLC Takes $17.32 Million Position in Apple Inc. $AAPL

Tempo Wealth LLC purchased a new position in Apple Inc. (NASDAQ:AAPL) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 63,697 shares of the iPhone maker’s stock, valued at approximately $17,317,000. Apple accounts for approximately 3.1% of Tempo Wealth LLC’s investment portfolio, making the stock its 5th largest holding.

Other institutional investors also recently bought and sold shares of the company. Isthmus Partners LLC increased its holdings in shares of Apple by 6.4% in the 3rd quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker’s stock valued at $25,000 after acquiring an additional 5,808 shares during the period. ROSS JOHNSON & Associates LLC raised its position in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares in the last quarter. LSV Asset Management purchased a new stake in shares of Apple during the 4th quarter worth $65,000. Timmons Wealth Management LLC bought a new stake in Apple during the fourth quarter valued at about $69,000. Finally, Inspire Investing LLC bought a new stake in Apple during the fourth quarter valued at about $76,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In other Apple news, 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 transaction of $369,460.00. Following the sale, the insider owned 38,713 shares in the company, valued at approximately $11,226,770. The trade was a 3.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 30,002 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total value of $7,661,010.70. Following the completion of the transaction, the senior vice president directly owned 136,810 shares in the company, valued at $34,934,433.50. This represents a 17.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 97,875 shares of company stock valued at $24,998,541 in the last quarter. Insiders own 0.06% of the company’s stock.

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 Price Performance

AAPL stock opened at $298.01 on Friday. The firm has a 50 day moving average of $289.73 and a 200 day moving average of $272.98. The stock has a market capitalization of $4.38 trillion, a PE ratio of 36.04, a price-to-earnings-growth ratio of 2.59 and a beta of 1.09. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. Apple Inc. has a 52 week low of $196.85 and a 52 week high of $317.40.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. During the same quarter in the previous year, the firm earned $1.65 EPS. Apple’s revenue was up 16.6% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. DA Davidson reiterated a “neutral” rating and issued a $270.00 target price on shares of Apple in a report on Friday, May 1st. Wells Fargo & Company restated an “overweight” rating and issued a $310.00 price target (up from $300.00) on shares of Apple in a report on Friday, May 1st. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Apple in a research report on Monday, June 8th. Citigroup reiterated a “buy” rating on shares of Apple in a research note on Monday, June 1st. Finally, Bank of America reissued a “buy” rating and set a $380.00 target price on shares of Apple in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $314.59.

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.