Penobscot Wealth Management boosted its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 100.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,057 shares of the iPhone maker’s stock after purchasing an additional 11,526 shares during the quarter. Apple comprises 1.8% of Penobscot Wealth Management’s holdings, making the stock its 10th biggest position. Penobscot Wealth Management’s holdings in Apple were worth $6,060,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Lifetime Wealth Management P.C. acquired a new stake in Apple in the 4th quarter valued at approximately $41,000. ROSS JOHNSON & Associates LLC boosted its position in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares during the period. Timmons Wealth Management LLC bought a new position in shares of Apple in the fourth quarter worth $69,000. LSV Asset Management bought a new position in shares of Apple in the fourth quarter worth $65,000. Finally, Inspire Investing LLC acquired a new position in shares of Apple during the fourth quarter valued at $76,000. 67.73% of the stock is owned by institutional investors and hedge funds.
Key Apple News
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Apple is reportedly planning at least five new iPhone models through early 2027, including a bigger push into foldables, which could refresh demand and support a stronger upgrade cycle. Apple plans five new iPhones through 2027, eyes Chinese-made chips amid foldable push, reports say
- Positive Sentiment: Several reports say Apple’s stock is rebounding after last week’s selloff, with investors viewing recent price hikes as a way to defend margins rather than a sign of weakening demand. Apple’s Aggressive Price Hikes Raise Eyebrows As Wall Street Links AI Chip Shortages To Inflation Pressure— Ryan Detrick Says ‘This is the Real World Stuff’
- Positive Sentiment: Wall Street commentary remained constructive, with some analysts and strategists pointing to Apple’s AI roadmap, App Store/services growth, and long-term product pipeline as reasons to stay bullish on AAPL. What’s Going on With Apple Stock Thursday?
- Neutral Sentiment: Market rotation matters too: Apple is outperforming a weak tech tape, so some of the stock’s strength may reflect investors rotating into higher-quality mega-cap names rather than a company-specific catalyst alone. Dow Jones Futures: Dow Hits High But AI Tumbles; Apple, Robinhood Are Buys As Tesla, Sandisk Dive
- Negative Sentiment: The main overhang is margin pressure from surging memory and component costs, which has already forced Apple to raise prices on Macs and iPads and could squeeze profitability if costs stay elevated. Is Apple stock in trouble? Rising costs threaten margins, demand
- Negative Sentiment: Investors are also watching reports that Apple may source memory chips from blacklisted Chinese suppliers, a move that highlights the seriousness of the supply shortage and adds geopolitical risk. Russia warns Apple of $52 million fine over alleged bias against local apps
Analysts Set New Price Targets
Read Our Latest Stock Report on AAPL
Insider Activity at Apple
In other Apple news, insider Ben Borders sold 1,274 shares of the company’s stock in a transaction 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 owned 38,713 shares of the company’s stock, valued at approximately $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the sale, the chief financial officer owned 13,366 shares of the company’s stock, valued at $3,675,650. This trade represents a 10.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 2,924 shares of company stock worth $825,546. 0.06% of the stock is currently owned by company insiders.
Apple Trading Up 4.8%
Shares of Apple stock opened at $308.63 on Friday. The business has a fifty day simple moving average of $294.54 and a 200-day simple moving average of $273.60. Apple Inc. has a fifty-two week low of $201.50 and a fifty-two week high of $317.40. The firm has a market cap of $4.53 trillion, a price-to-earnings ratio of 37.32, a price-to-earnings-growth ratio of 2.56 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 announced its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company had revenue of $111.18 billion for the quarter, compared to analysts’ expectations of $109.46 billion. During the same quarter in the previous year, the company posted $1.65 EPS. The business’s revenue was up 16.6% compared to the same quarter last year. On average, equities analysts forecast that Apple Inc. will post 8.74 EPS for the current fiscal year.
Apple Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple’s payout ratio is 13.06%.
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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