Peak Financial Management Inc. increased its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 29.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,913 shares of the iPhone maker’s stock after purchasing an additional 5,369 shares during the quarter. Apple makes up about 1.5% of Peak Financial Management Inc.’s portfolio, making the stock its 22nd largest holding. Peak Financial Management Inc.’s holdings in Apple were worth $6,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also added to or reduced their stakes in AAPL. NBT Bank N A NY boosted its position in Apple by 2.4% in the first quarter. NBT Bank N A NY now owns 270,817 shares of the iPhone maker’s stock valued at $68,731,000 after buying an additional 6,444 shares in the last quarter. Cobblestone Asset Management LLC increased its holdings in shares of Apple by 3.1% during the first quarter. Cobblestone Asset Management LLC now owns 8,733 shares of the iPhone maker’s stock worth $2,216,000 after buying an additional 263 shares in the last quarter. St. Johns Investment Management Company LLC lifted its stake in shares of Apple by 0.7% in the 1st quarter. St. Johns Investment Management Company LLC now owns 50,443 shares of the iPhone maker’s stock valued at $12,802,000 after acquiring an additional 367 shares during the last quarter. Clear Retirement Advice LLC boosted its holdings in shares of Apple by 190.7% during the 1st quarter. Clear Retirement Advice LLC now owns 9,147 shares of the iPhone maker’s stock valued at $2,321,000 after acquiring an additional 6,000 shares in the last quarter. Finally, Brighton Jones LLC boosted its holdings in shares of Apple by 0.9% during the 1st quarter. Brighton Jones LLC now owns 569,999 shares of the iPhone maker’s stock valued at $144,660,000 after acquiring an additional 4,991 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. Maxim Group reaffirmed a “buy” rating and issued a $350.00 target price (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. Wells Fargo & Company restated 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. KGI Securities downgraded Apple from an “outperform” rating to a “hold” rating and set a $315.00 price objective for the company. in a research note on Monday, June 22nd. UBS Group set a $250.00 price objective on shares of Apple in a report on Tuesday. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Apple in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $318.43.
Key Stories Impacting Apple
Here are the key news stories impacting Apple this week:
- Positive Sentiment: China approved Apple Intelligence for iPhones, clearing a major hurdle for Apple’s delayed AI rollout in its biggest international market. Reports also say Alibaba’s Qwen and Baidu models will help power the experience, which should support Apple’s AI adoption story. Alibaba and Baidu shares jump in Hong Kong on Apple AI partnership
- Positive Sentiment: Several market commentators say Apple is benefiting from a “standard oil” style strategy: keep monetizing a massive installed base through hardware, services, and selective ecosystem expansion rather than chasing capital-intensive AI infrastructure. That narrative is helping justify the stock’s record highs. Why Apple’s ‘Standard Oil’ Strategy Is Driving the Stock to All-Time Highs
- Positive Sentiment: Warren Buffett reiterated that Apple remains one of Berkshire Hathaway’s favorite holdings, easing some investor concern about the planned CEO transition from Tim Cook. Warren Buffett Just Reaffirmed Apple as One of His Favorite Stocks
- Neutral Sentiment: KeyCorp raised earnings estimates for Apple for several future periods, but kept an Underweight rating and a $250 price target, signaling improving fundamentals while still warning that valuation is rich. Apple Inc. research notes and analyst updates
- Neutral Sentiment: Apple is reportedly exploring acquisitions of chip startups to strengthen its AI server and custom silicon efforts. That could help long-term competitiveness, but the impact is still speculative. Apple chasing AI chip company deals, The Information reports
- Negative Sentiment: Some reports say Apple’s iPhone manufacturing costs are rising because of higher component prices, and that could pressure margins if Apple can’t fully offset those costs with pricing or mix improvements. Apple’s New iPhone Is Going to Cost Significantly More Than Last Year
- Negative Sentiment: Apple is also facing scrutiny from U.S. lawmakers over its China memory-chip sourcing plans, adding a political and supply-chain overhang to the AI and hardware story. AAPL’s China Memory Chip Plans Draw National Security Scrutiny
Apple Stock Up 1.8%
Shares of NASDAQ:AAPL opened at $333.26 on Friday. Apple Inc. has a 1 year low of $201.50 and a 1 year high of $334.68. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The business’s 50-day moving average is $302.80 and its 200-day moving average is $276.70. The company has a market capitalization of $4.89 trillion, a price-to-earnings ratio of 40.30, a P/E/G ratio of 2.84 and a beta of 1.10.
Apple (NASDAQ:AAPL – Get Free Report) last issued its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. The business had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.65 earnings per share. Equities research analysts predict that Apple Inc. will post 8.76 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 dividend on an annualized basis and a yield of 0.3%. 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 dividend payout ratio is presently 13.06%.
Insider Activity at Apple
In other news, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the completion of the sale, the chief financial officer owned 13,366 shares in the company, valued at $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ben Borders sold 1,274 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the transaction, the insider directly owned 38,713 shares in the company, valued at $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. In the last quarter, insiders sold 2,924 shares of company stock worth $825,546. Corporate insiders own 0.06% of the company’s stock.
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.
Featured Articles
- Five stocks we like better than Apple
- Why Abbott Laboratories Stock Is Suddenly Winning Back Wall Street
- Revving Up Returns: Big Banks Race Through the Rate Plateau
- Why Uber’s Biggest Deal Yet Could Unlock Its Next Growth Phase
- Why Microsoft Is Playing a Different AI Game Than Big Tech—and Cash Flow Is the Test
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Free Report).
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.
