Northstar Financial Companies Inc. lowered its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 18.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 18,476 shares of the iPhone maker’s stock after selling 4,308 shares during the quarter. Apple accounts for about 3.7% of Northstar Financial Companies Inc.’s investment portfolio, making the stock its 4th biggest position. Northstar Financial Companies Inc.’s holdings in Apple were worth $4,689,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Lifetime Wealth Management P.C. acquired a new stake in Apple in the fourth quarter worth about $41,000. ROSS JOHNSON & Associates LLC increased its stake in Apple by 1,800.0% during the 1st 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 during the period. LSV Asset Management acquired a new position in Apple during the 4th quarter valued at about $65,000. Timmons Wealth Management LLC bought a new stake in shares of Apple during the 4th quarter worth about $69,000. Finally, Inspire Investing LLC acquired a new stake in shares of Apple in the 4th quarter worth approximately $76,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Apple Stock 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 market capitalization of $4.90 trillion, a P/E ratio of 40.32, a PEG ratio of 2.92 and a beta of 1.10. The company’s 50 day simple moving average is $309.51 and its 200 day simple moving average is $281.25. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02.
Apple Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, August 10th. Apple’s dividend payout ratio is 13.06%.
Insider Buying and Selling at Apple
In related news, insider Ben Borders sold 116 shares of Apple stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the transaction, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
AAPL has been the subject of several recent analyst reports. Barclays reiterated an “underweight” rating on shares of Apple in a report on Tuesday, June 9th. Raymond James Financial set a $380.00 target price on Apple in a research report on Monday, July 20th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $276.00 price target on shares of Apple in a research note on Tuesday, June 9th. KGI Securities cut Apple from an “outperform” rating to a “hold” rating and set a $315.00 price target on the stock. in a research report on Monday, June 22nd. Finally, Bank of America reissued a “buy” rating and issued a $380.00 price objective on shares of Apple in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $327.40.
Read Our Latest Research Report on AAPL
Key Apple News
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
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.
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