Swedbank AB raised its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 7.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,443,032 shares of the iPhone maker’s stock after acquiring an additional 1,386,374 shares during the period. Apple makes up 5.2% of Swedbank AB’s portfolio, making the stock its 3rd biggest position. Swedbank AB’s holdings in Apple were worth $4,934,447,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Lifetime Wealth Management P.C. purchased a new position in Apple in the fourth quarter valued at approximately $41,000. ROSS JOHNSON & Associates LLC lifted its position in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 180 shares in the last quarter. LSV Asset Management purchased a new stake in Apple during the fourth quarter worth approximately $65,000. Timmons Wealth Management LLC purchased a new stake in Apple during the fourth quarter worth approximately $69,000. Finally, Inspire Investing LLC acquired a new stake in shares of Apple in the fourth quarter worth $76,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Apple News Summary
Here are the key news stories impacting Apple this week:
- Positive Sentiment: HSBC upgraded Apple Inc. (NASDAQ: AAPL) to Buy and raised its price target to $366 from $260, saying the company is at an operational turning point with AI features and hardware momentum supporting growth. HSBC upgrades Apple to Buy, sees “strong cycle ahead”
- Positive Sentiment: China approved Apple Intelligence for iPhones, and Apple will integrate Alibaba’s Qwen AI model in its China rollout, a key step that could expand Apple’s AI adoption in one of its most important markets. Alibaba and Baidu shares jump in Hong Kong on Apple AI partnership
- Positive Sentiment: Multiple reports say Apple briefly overtook Nvidia in market value, reinforcing the view that investors are rotating toward Apple’s consumer execution and away from some AI-heavy names. Apple closes in on Nvidia in race for world’s most valuable company
- Positive Sentiment: Several commentaries highlighted Apple’s cash generation, shareholder returns, and robotics/innovation efforts, supporting the bullish “cash flow machine” and diversification narrative. Apple’s Core Business Cash Flow Machine Will Support Innovation and Diversification
Insiders Place Their Bets
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on AAPL. UBS Group set a $250.00 target price on shares of Apple in a research note on Tuesday, July 14th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $276.00 price target on shares of Apple in a research report on Tuesday, June 9th. Wells Fargo & Company reiterated an “overweight” rating and issued a $310.00 price target (up from $300.00) on shares of Apple in a report on Friday, May 1st. Maxim Group reissued a “buy” rating and issued a $350.00 price objective (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. Finally, TD Cowen boosted their price objective on Apple from $335.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. One equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $318.43.
View Our Latest Research Report on Apple
Apple Price Performance
AAPL stock opened at $333.74 on Monday. The stock’s 50 day moving average is $303.61 and its two-hundred day moving average is $277.12. Apple Inc. has a 52-week low of $201.50 and a 52-week high of $334.99. The company has a market capitalization of $4.90 trillion, a PE ratio of 40.36, a P/E/G ratio of 2.90 and a beta of 1.10. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70.
Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating the consensus estimate of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. During the same period in the prior year, the business posted $1.65 EPS. The business’s revenue was up 16.6% on a year-over-year basis. Analysts predict that Apple Inc. will post 8.76 earnings per share for the current fiscal year.
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 issued a $0.27 dividend. This is a boost from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. Apple’s dividend payout ratio is currently 13.06%.
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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