Sovran Advisors LLC increased its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 11.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 114,881 shares of the iPhone maker’s stock after purchasing an additional 11,492 shares during the period. Apple makes up 2.4% of Sovran Advisors LLC’s holdings, making the stock its 3rd largest position. Sovran Advisors LLC’s holdings in Apple were worth $31,173,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Overbrook Management Corp increased its holdings in Apple by 57.4% during the fourth quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock worth $28,449,000 after buying an additional 38,174 shares during the last quarter. Rainier Family Wealth Inc. lifted its stake in Apple by 14.1% in the first quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker’s stock valued at $6,189,000 after acquiring an additional 3,014 shares during the last quarter. Torren Management LLC acquired a new stake in Apple in the fourth quarter valued at $1,178,000. Summit Wealth Partners LLC grew its position in shares of Apple by 108.3% in the 1st quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker’s stock valued at $8,880,000 after acquiring an additional 18,188 shares during the period. Finally, Adventist Health System Sunbelt Healthcare Corp bought a new position in shares of Apple in the 4th quarter valued at about $105,482,000. Institutional investors and hedge funds own 67.73% of the company’s stock.
Insider Buying and Selling
In related news, insider Ben Borders sold 1,274 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were 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 approximately $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.06% of the stock is currently owned by corporate insiders.
Apple News Summary
- Positive Sentiment: Ford said it will embed Apple Maps into upcoming EVs, expanding Apple’s software reach and reinforcing the value of its ecosystem. Ford Embeds Apple Maps Directly into Upcoming EVs
- Positive Sentiment: Baird raised its price target on Apple and reiterated an Outperform rating, adding to bullish analyst momentum. Finviz
- Positive Sentiment: Commentary highlighted Apple as outperforming the broader market, supported by strong ratings and a favorable chart setup ahead of earnings. Why is Apple stock outperforming the broader market?
- Neutral Sentiment: Apple was also the subject of discussion around upcoming product launches, AI features, and a possible device-leasing program, which could support demand but remain unconfirmed or longer-term in nature.
- Negative Sentiment: Some reports noted concerns that Apple’s valuation is stretched heading into earnings, and insider sales plus short-interest chatter may temper enthusiasm if results disappoint.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. HSBC raised shares of Apple from a “hold” rating to a “buy” rating and upped their target price for the company from $260.00 to $366.00 in a report on Thursday, July 16th. Rosenblatt Securities reissued a “neutral” rating and set a $276.00 price target on shares of Apple in a research report on Tuesday, June 9th. TD Cowen upped their price objective on Apple from $335.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Bank of America reaffirmed a “buy” rating and issued a $380.00 price objective on shares of Apple in a research report on Thursday, June 18th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Apple in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $327.40.
Get Our Latest Analysis on Apple
Apple Stock Up 3.5%
Apple stock opened at $333.02 on Friday. The company’s 50-day moving average price is $306.62 and its two-hundred day moving average price is $279.01. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The stock has a market cap of $4.89 trillion, a P/E ratio of 40.27, a P/E/G ratio of 2.88 and a beta of 1.10. Apple Inc. has a twelve month low of $201.50 and a twelve month high of $334.99.
Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the company posted $1.65 earnings per share. The business’s revenue was up 16.6% on a year-over-year basis. As a group, analysts expect that Apple Inc. will post 8.76 EPS for the current year.
Apple Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were paid a $0.27 dividend. 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 yield of 0.3%. Apple’s dividend payout ratio is presently 13.06%.
Apple 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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