NFSG Corp reduced its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 4.8% during the 1st quarter, Holdings Channel.com reports. The fund owned 89,477 shares of the iPhone maker’s stock after selling 4,531 shares during the quarter. Apple comprises about 3.7% of NFSG Corp’s portfolio, making the stock its 2nd biggest position. NFSG Corp’s holdings in Apple were worth $22,708,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Apple in the 4th quarter valued at about $52,266,468,000. Nuveen LLC purchased a new position in Apple during the 1st quarter worth approximately $17,472,482,000. Cardano Risk Management B.V. grew its stake in Apple by 890.7% during the 4th quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker’s stock worth $11,413,990,000 after buying an additional 37,746,784 shares during the last quarter. Laurel Wealth Advisors LLC increased its position in Apple by 20,464.8% during the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock worth $5,553,753,000 after buying an additional 26,937,401 shares during the period. Finally, Vanguard Group Inc. increased its position in Apple by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock worth $387,749,545,000 after buying an additional 26,856,752 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on AAPL. Needham & Company LLC reissued a “hold” rating on shares of Apple in a report on Tuesday, June 9th. TD Cowen lifted their target price on shares of Apple from $335.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Oppenheimer reiterated a “market perform” rating on shares of Apple in a research report on Tuesday, June 9th. Barclays reiterated an “underweight” rating on shares of Apple in a research note on Tuesday, June 9th. Finally, Wedbush reissued an “outperform” rating and set a $400.00 price objective on shares of Apple in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $327.40.
Insider Activity at Apple
In other news, insider Ben Borders sold 116 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares in the company, valued at approximately $11,425,754.82. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.06% of the company’s stock.
Trending Headlines about Apple
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Apple reported record June-quarter revenue of approximately $109.4 billion, up 16% year over year, while diluted EPS of $2.02 rose 29% and exceeded Wall Street expectations. Strong iPhone and Mac sales drove the results. Apple reports third quarter results
- Positive Sentiment: The company said its active installed base reached an all-time high, and iPhone, Mac and Services each posted June-quarter revenue records. Apple also declared a quarterly dividend of $0.27 per share. Apple Q3 revenue rises
- Neutral Sentiment: Apple indicated that a revamped Siri could eventually become a paid service for heavy users, offering a potential long-term monetization opportunity as the company expands its consumer-AI strategy. Tim Cook says Apple may charge for AI Siri
- Neutral Sentiment: Thursday marked Tim Cook’s final earnings call as CEO before he steps down in September, adding leadership-transition uncertainty despite incoming CEO John Ternus’s expected continuity.
- Negative Sentiment: Apple’s fiscal fourth-quarter revenue outlook of $111.7 billion to $113.7 billion was below the roughly $114.3 billion consensus estimate. The cautious forecast is a key reason the stock has decreased despite the quarterly beat.
- Negative Sentiment: The generative-AI hardware boom is driving severe memory and component shortages. Apple is stockpiling inventory, but CEO Tim Cook warned that the impact of higher memory prices will worsen, pressuring product margins and potentially requiring further price increases. The quarter’s 50.1% gross margin benefited by about two percentage points from tariff refunds, a benefit that may not recur. Apple stockpiles inventory
- Negative Sentiment: Services revenue missed expectations, with Apple citing a slowdown in gaming and the effects of App Store changes. Weaker-than-expected China performance also raised concerns about regional demand and competition.
- Negative Sentiment: With Apple valued near $5 trillion and trading at roughly 40 times earnings, investors had set very high expectations. That premium leaves less room for disappointment in growth, margins or guidance. Apple forecasts slower growth
Apple Trading Down 1.4%
NASDAQ:AAPL opened at $333.43 on Friday. Apple Inc. has a 12-month low of $201.50 and a 12-month high of $344.57. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The stock’s 50 day simple moving average is $309.51 and its 200-day simple moving average is $281.25. The firm has a market cap of $4.90 trillion, a P/E ratio of 40.32, a PEG ratio of 2.92 and a beta of 1.10.
Apple (NASDAQ:AAPL – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.13. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. During the same period last year, the company earned $1.57 earnings per share. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. Equities analysts anticipate that Apple Inc. will post 8.76 EPS for the current year.
Apple Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be given a dividend of $0.27 per share. The ex-dividend date is Monday, August 10th. This represents a $1.08 dividend on an annualized basis 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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