New World Advisors LLC cut its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 7.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,838 shares of the iPhone maker’s stock after selling 2,666 shares during the period. Apple accounts for 1.5% of New World Advisors LLC’s holdings, making the stock its 3rd biggest holding. New World Advisors LLC’s holdings in Apple were worth $8,334,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in AAPL. First National Bank of Hutchinson grew its stake in Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after acquiring an additional 6,982 shares in the last quarter. Eagle Capital Management LLC lifted its stake in Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after purchasing an additional 272 shares in the last quarter. Brighton Jones LLC boosted its holdings in shares of Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after purchasing an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after purchasing an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE increased its holdings in shares of Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after purchasing an additional 1,155 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the company. Wedbush reiterated an “outperform” rating and issued a $400.00 target price on shares of Apple in a research report on Friday, June 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research note on Tuesday, June 9th. Maxim Group reaffirmed a “buy” rating and set a $350.00 price objective (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. Tigress Financial reiterated a “strong-buy” rating and set a $375.00 target price (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. Finally, Oppenheimer reissued a “market perform” rating on shares of Apple in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $313.11.
Insider Buying and Selling
In related news, CFO Kevan Parekh sold 1,534 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the transaction, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $3,675,650. This represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ben Borders sold 1,274 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider owned 38,713 shares of the company’s stock, valued at $11,226,770. The trade was a 3.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,924 shares of company stock worth $825,546 over the last quarter. 0.06% of the stock is currently owned by insiders.
Trending Headlines about Apple
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Citi raised its price target on Apple to $365 and kept a Buy rating, arguing the company can keep gaining market share and may benefit from premium iPhone pricing and Apple Intelligence upside. Article Title
- Positive Sentiment: Apple continues to show strong smartphone performance, including record Q2 market share in China and reports that it has outperformed the broader smartphone slump, which supports the case for resilient demand. Article Title
- Positive Sentiment: Investors are also focusing on potential future catalysts such as a possible iPhone price increase and new product cycles, including foldable iPhone plans and AI-focused chip development. Article Title
- Neutral Sentiment: Apple’s lawsuit against OpenAI is keeping the stock in the headlines; it could protect Apple’s intellectual property and slow a competitor’s hardware push, but it also adds legal uncertainty. Article Title
- Neutral Sentiment: Broadcom’s multiyear chip agreement was described as strategically positive for Apple’s AI silicon efforts, but it is more of a longer-term support story than a direct near-term stock mover. Article Title
- Negative Sentiment: KeyBanc’s downgrade and related bearish commentary from other firms are the clearest reasons Apple stock is lower, with analysts warning that slowing iPhone upgrades and softer Services growth could limit further upside. Article Title
Apple Trading Down 0.8%
Shares of AAPL opened at $314.86 on Wednesday. The company has a 50-day moving average of $301.09 and a 200 day moving average of $275.89. 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 Inc. has a 1-year low of $201.50 and a 1-year high of $323.45. The firm has a market capitalization of $4.62 trillion, a price-to-earnings ratio of 38.07, a PEG ratio of 2.76 and a beta of 1.10.
Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. During the same period last year, the company posted $1.65 EPS. The business’s revenue was up 16.6% on a year-over-year basis. On average, research analysts expect that Apple Inc. will post 8.74 EPS for the current year.
Apple Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. This is a boost from Apple’s previous quarterly dividend of $0.26. 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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