Cascade Financial Partners LLC lessened its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 4.4% during the fourth quarter, Holdings Channel reports. The fund owned 193,254 shares of the iPhone maker’s stock after selling 8,939 shares during the period. Apple comprises 4.9% of Cascade Financial Partners LLC’s holdings, making the stock its 3rd biggest holding. Cascade Financial Partners LLC’s holdings in Apple were worth $52,538,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Reyes Financial Architecture Inc. grew its holdings in Apple by 0.4% during 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 during the last quarter. WESPAC Advisors LLC grew its holdings in Apple by 0.3% during the 4th 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 during the last quarter. American Alpha Advisors LLC grew its holdings in Apple by 3.7% during the 3rd quarter. American Alpha Advisors LLC now owns 1,151 shares of the iPhone maker’s stock valued at $293,000 after purchasing an additional 41 shares during the last quarter. Seven Springs Wealth Group LLC grew its holdings in Apple by 0.3% during the 3rd quarter. Seven Springs Wealth Group LLC now owns 15,451 shares of the iPhone maker’s stock valued at $3,934,000 after purchasing an additional 42 shares during the last quarter. Finally, Avant Capital LLC grew its holdings in Apple by 0.9% during the 3rd quarter. Avant Capital LLC now owns 4,814 shares of the iPhone maker’s stock valued at $1,226,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.
Insider Activity
In related news, CEO Timothy D. Cook sold 64,949 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total transaction 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 $833,980,668.14. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 1,274 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the sale, the insider directly owned 38,713 shares of the company’s stock, valued at $11,226,770. The trade was a 3.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 97,759 shares of company stock worth $24,964,305. 0.06% of the stock is currently owned by insiders.
Apple News Roundup
- Positive Sentiment: Apple’s WWDC keynote is expected to highlight a revamped Siri, Apple Intelligence updates, and a broader AI strategy, which could act as a near-term catalyst if the company shows meaningful progress. Will WWDC Drive Apple Stock (AAPL) Higher? Here’s What Analysts Expect
- Positive Sentiment: Analysts remain constructive, with Citi reiterating a Buy and Wedbush reaffirming Outperform with a $400 target, citing Apple’s AI inflection point and resilient iPhone fundamentals. Asiya Merchant Reiterates Buy on Apple, Citing AI Strategy Inflection and Resilient iPhone Fundamentals
- Positive Sentiment: Apple’s App Store update showed $1.4 trillion in sales and billings last year, reinforcing the scale of its Services ecosystem even as most transactions did not carry a commission. Apple touts $1.4 trillion in App Store billings and sales, 90% without a commission
- Positive Sentiment: Foxconn raised its second-quarter outlook, a constructive signal for Apple’s supply chain and iPhone demand, since Foxconn is Apple’s top iPhone assembler. Taiwan’s Foxconn raises guidance for second-quarter outlook
- Neutral Sentiment: Reports that Apple may rely on Google cloud infrastructure and Nvidia chips to power a redesigned Siri suggest the company is prioritizing speed to market, but they also underscore that Apple is leaning on outside partners for its AI push. Apple Taps Google to Prep Siri For September Revamp
- Negative Sentiment: Some coverage warns that Apple still faces a high bar to justify its valuation, and UBS noted decelerating App Store growth could pressure the Services growth story if AI execution disappoints. Investors Should Worry About Apple’s (AAPL) Decelerating App Store Growth, Says UBS
Apple Price Performance
Shares of AAPL opened at $307.34 on Friday. The company has a 50 day moving average price of $281.39 and a 200-day moving average price of $271.37. Apple Inc. has a fifty-two week low of $195.07 and a fifty-two week high of $316.94. The stock has a market capitalization of $4.51 trillion, a PE ratio of 37.16, a PEG ratio of 2.71 and a beta of 1.09. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07.
Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly 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 firm had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. During the same quarter in the prior year, the company earned $1.65 EPS. The company’s revenue was up 16.6% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 8.74 earnings per share for the current fiscal 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 dividend of $0.27 per share. 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. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio is currently 13.06%.
Analyst Ratings Changes
Several equities analysts recently commented on AAPL shares. Citigroup reiterated a “buy” rating on shares of Apple in a report on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a report on Friday, May 1st. Tigress Financial reiterated a “strong-buy” rating and set a $375.00 price target (up from $305.00) on shares of Apple in a report on Thursday, May 14th. Bank of America reiterated a “buy” rating and set a $380.00 price target (up from $330.00) on shares of Apple in a report on Tuesday, May 26th. Finally, DA Davidson reiterated a “neutral” rating and set a $270.00 price target on shares of Apple in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $312.82.
View Our Latest Stock Analysis on AAPL
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.
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