Sims Investment Management LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 56.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,288 shares of the iPhone maker’s stock after selling 1,655 shares during the period. Sims Investment Management LLC’s holdings in Apple were worth $332,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Isthmus Partners LLC raised its position in Apple by 6.4% during the third 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 in the last quarter. Lifetime Wealth Management P.C. purchased a new stake in Apple in the 4th quarter worth approximately $41,000. ROSS JOHNSON & Associates LLC grew its stake in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares during the period. LSV Asset Management purchased a new position in shares of Apple during the 4th quarter valued at approximately $65,000. Finally, Timmons Wealth Management LLC purchased a new position in shares of Apple during the 4th quarter valued at approximately $69,000. 67.73% of the stock is owned by institutional investors and hedge funds.
Apple Price Performance
Shares of NASDAQ AAPL opened at $308.63 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The firm has a fifty day moving average of $295.25 and a 200 day moving average of $273.85. The firm has a market cap of $4.53 trillion, a PE ratio of 37.32, a PEG ratio of 2.68 and a beta of 1.10. Apple Inc. has a one year low of $201.50 and a one year high of $317.40.
Apple Increases Dividend
The business also recently declared 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. This is a boost from Apple’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. Apple’s payout ratio is currently 13.06%.
Insider Transactions at Apple
In related news, CFO Kevan Parekh sold 1,534 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ben Borders sold 1,274 shares of Apple stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,924 shares of company stock worth $825,546 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of brokerages recently issued reports on AAPL. Wells Fargo & Company reissued an “overweight” rating and set a $310.00 price target (up from $300.00) on shares of Apple in a report on Friday, May 1st. KeyCorp reissued a “sector weight” rating on shares of Apple in a research note on Tuesday, June 9th. Wedbush restated an “outperform” rating and set a $400.00 target price on shares of Apple in a research report on Friday, June 5th. Morgan Stanley restated an “overweight” rating on shares of Apple in a research note on Friday, June 26th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Apple in a report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $314.85.
View Our Latest Report on Apple
Key Headlines Impacting Apple
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Reports that Apple plans at least five new iPhone models through early 2027, including a stronger foldable iPhone push, have reinforced expectations for a fresh product cycle and a longer growth runway. Apple plans five new iPhones through 2027, eyes Chinese-made chips amid foldable push, reports say
- Positive Sentiment: Apple also appears to be benefiting from investor optimism that it can navigate the memory-chip shortage and secure supply, including possible deals with lower-cost Chinese chipmakers, which could help protect future production. Apple negotiates with blacklisted Chinese chipmakers amid AI-driven memory crunch
- Positive Sentiment: Several market commentary pieces said Apple is holding up better than the broader tech sector, with traders viewing recent weakness as a buying opportunity and analysts still pointing to solid upside potential. Apple’s Aggressive Price Hikes Raise Eyebrows As Wall Street Links AI Chip Shortages To Inflation Pressure
- Neutral Sentiment: Apple’s recent price hikes on Macs and iPads are being interpreted two ways: as a sign of inflationary component costs, but also as a margin-protection move that may not hurt demand as much as feared. Jim Cramer’s Latest Thought on Apple Inc. (AAPL)
- Neutral Sentiment: Apple’s insider-selling activity and mixed institutional positioning are adding caution, but they are not the main driver of the stock today. Apple Stock (AAPL) Opinions on Recent Price Hikes and Analyst Views
- Negative Sentiment: Some coverage continues to flag pressure on Apple’s margins and demand if higher component costs force more price increases, which could weigh on sentiment over time. Is Apple stock in trouble? Rising costs threaten margins, demand
Apple Company 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.
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