Mill Creek Capital Advisors LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 5.1% during the 4th quarter, Holdings Channel reports. The firm owned 149,129 shares of the iPhone maker’s stock after selling 7,998 shares during the quarter. Apple makes up about 0.8% of Mill Creek Capital Advisors LLC’s holdings, making the stock its 18th largest holding. Mill Creek Capital Advisors LLC’s holdings in Apple were worth $40,542,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Overbrook Management Corp lifted its position 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 valued at $28,449,000 after acquiring an additional 38,174 shares in the last quarter. Tufton Capital Management lifted its position in shares of Apple by 4.3% in the third quarter. Tufton Capital Management now owns 100,130 shares of the iPhone maker’s stock valued at $25,496,000 after acquiring an additional 4,157 shares in the last quarter. Torren Management LLC purchased a new position in shares of Apple in the fourth quarter valued at approximately $1,178,000. Adventist Health System Sunbelt Healthcare Corp purchased a new position in Apple during the fourth quarter worth approximately $105,482,000. Finally, KBC Group NV lifted its position in Apple by 3.1% during the fourth quarter. KBC Group NV now owns 7,044,697 shares of the iPhone maker’s stock worth $1,915,172,000 after buying an additional 214,215 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Apple news, CEO Timothy D. Cook sold 64,949 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was 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 trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of the firm’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the sale, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 97,759 shares of company stock worth $24,964,305 in the last three months. 0.06% of the stock is owned by insiders.
Apple Price Performance
Apple (NASDAQ:AAPL – Get Free Report) last posted 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 company had revenue of $111.18 billion during 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 firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 earnings per share. As a group, research analysts anticipate that Apple Inc. will post 8.75 earnings per share for the current year.
Apple Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.4%. This is a positive change from Apple’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. Apple’s payout ratio is 13.06%.
Key Apple News
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Wedbush said Apple’s WWDC AI rollout could be the “first step” toward adding as much as $100 to the stock, as investors focus on the company’s AI execution and the potential for a stronger Siri/Apple Intelligence roadmap. Article Title
- Positive Sentiment: Multiple reports on iOS 27 and Apple Intelligence suggest Apple is making progress on features that could improve older iPhones, expand software value, and strengthen the case for users to upgrade into the next product cycle. Article Title
- Positive Sentiment: Analyst commentary remains constructive, with several firms reiterating buy/overweight views and price targets clustered well above current levels, reinforcing a bullish long-term sentiment on AAPL. Article Title
- Neutral Sentiment: Several articles highlight Apple’s strong recent operating performance, including record iPhone demand and services revenue, but these are largely a rehash of prior earnings strength rather than a fresh catalyst. Article Title
- Negative Sentiment: A Yahoo Finance report says rising memory chip costs could pressure Apple’s hardware margins as AI features require more device memory, creating a potential headwind for profitability over the next few quarters. Article Title
- Negative Sentiment: Broader sentiment is also being dampened by articles noting that the Magnificent Seven, including Apple, have been weak in June and have lagged the broader market at times, which can weigh on near-term momentum. Article Title
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. BNP Paribas Exane upgraded Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research report on Friday, April 17th. Stifel Nicolaus set a $330.00 price objective on Apple in a research report on Monday, March 2nd. UBS Group reiterated a “buy” rating on shares of Apple in a research report on Tuesday, June 9th. Evercore reiterated an “outperform” rating on shares of Apple in a research report on Monday, June 8th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Apple in a research report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.59.
View Our Latest Research Report on Apple
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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