Rockport Wealth LLC Sells 6,732 Shares of Apple Inc. $AAPL

Rockport Wealth LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 6.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 101,678 shares of the iPhone maker’s stock after selling 6,732 shares during the quarter. Apple makes up about 4.9% of Rockport Wealth LLC’s portfolio, making the stock its 5th biggest holding. Rockport Wealth LLC’s holdings in Apple were worth $29,422,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Lifetime Wealth Management P.C. purchased a new stake in shares of Apple during the fourth quarter worth approximately $41,000. ROSS JOHNSON & Associates LLC increased its stake 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 buying an additional 180 shares during the period. LSV Asset Management purchased a new stake in shares of Apple during the fourth quarter worth approximately $65,000. Timmons Wealth Management LLC purchased a new stake in shares of Apple during the fourth quarter worth approximately $69,000. Finally, Inspire Investing LLC purchased a new stake in shares of Apple during the fourth quarter worth approximately $76,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Jennifer Newstead sold 1,439 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $310.95, for a total value of $447,457.05. Following the sale, the senior vice president directly owned 37,229 shares in the company, valued at $11,576,357.55. The trade was a 3.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ben Borders sold 116 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the sale, the insider owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 4,433 shares of company stock valued at $1,367,024. 0.06% of the stock is owned by insiders.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Orderly CEO succession: Tim Cook is leaving the CEO role after 15 years but will remain Apple’s executive chairman. Cook strongly endorsed successor John Ternus, a longtime hardware leader, potentially reducing fears of an abrupt management break. Tim Cook’s parting message: Apple is in the hands of a product builder
• Positive Sentiment: Product catalysts ahead: Apple’s first major product event under Ternus is expected September 9, with reports pointing to new iPhones and a possible foldable model. Strong iPhone demand, potential iOS market-share gains and rising interest in Mac hardware for AI workloads could support future revenue. Apple Valuation Nears $5T as John Ternus Steps Up as New CEO
• Neutral Sentiment: Strong track record and support: Cook’s tenure produced substantial shareholder gains, while Apple’s latest quarter delivered revenue growth and an earnings beat. Analysts’ median price target remains above the current quotation, although the stock’s elevated valuation leaves less room for disappointment.
• Negative Sentiment: AI strategy concerns: Ternus inherits an artificial-intelligence strategy that relies heavily on outside partners, leaving Apple behind leading rivals in some areas. Investors will look for evidence that the new CEO can accelerate AI-powered Siri and on-device capabilities. Apple’s New CEO Inherits an AI Strategy Built on Outsiders
• Negative Sentiment: Execution and valuation risks: Commentators warn that App Store pressure, supply-chain challenges, potential memory-cost inflation and a trailing P/E near 37 make Apple vulnerable if the September launch disappoints. Apple TV+’s latest price increase could also slow subscriber growth. Apple Is Facing One of Its Most Challenging Times in a Decade

Apple Trading Down 1.9%

Shares of NASDAQ AAPL traded down $6.07 during midday trading on Monday, reaching $313.63. 15,356,139 shares of the stock were exchanged, compared to its average volume of 49,963,801. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $4.58 trillion, a P/E ratio of 35.97, a P/E/G ratio of 2.74 and a beta of 1.09. The stock has a 50 day moving average price of $312.24 and a 200-day moving average price of $288.52. Apple Inc. has a 52-week low of $225.95 and a 52-week high of $344.57.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating the consensus estimate of $1.89 by $0.13. The company had revenue of $109.42 billion during the quarter, compared to analysts’ expectations of $109.04 billion. Apple had a return on equity of 135.46% and a net margin of 27.62%.The firm’s revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.57 EPS. Equities research analysts expect that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Apple’s dividend payout ratio (DPR) is 12.39%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AAPL shares. Sanford C. Bernstein restated an “outperform” rating on shares of Apple in a research report on Monday, June 8th. Piper Sandler started coverage on Apple in a report on Monday, August 17th. They issued an “overweight” rating for the company. HSBC raised Apple from a “hold” rating to a “buy” rating and increased their price objective for the company from $260.00 to $366.00 in a report on Thursday, July 16th. Morgan Stanley decreased their price target on Apple from $364.00 to $360.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $330.53.

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.