OMC Financial Services LTD reduced its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 7.1% in the first quarter, HoldingsChannel reports. The fund owned 106,872 shares of the iPhone maker’s stock after selling 8,141 shares during the quarter. Apple makes up 10.5% of OMC Financial Services LTD’s holdings, making the stock its 2nd largest holding. OMC Financial Services LTD’s holdings in Apple were worth $27,123,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. First National Bank of Hutchinson boosted its holdings 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 worth $8,845,000 after buying an additional 6,982 shares in the last quarter. Eagle Capital Management LLC increased its holdings in shares of Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after buying an additional 272 shares in the last quarter. Brighton Jones LLC increased its holdings in shares of Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after buying an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC lifted its position 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 acquiring an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE lifted its position in shares of Apple by 2.4% during the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after acquiring an additional 1,155 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
AAPL has been the subject of a number of recent analyst reports. Morgan Stanley set a $364.00 price target on Apple and gave the company an “overweight” rating in a research report on Thursday. Monness Crespi & Hardt upped their price objective on shares of Apple from $315.00 to $335.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Sanford C. Bernstein reiterated an “outperform” rating on shares of Apple in a report on Monday, June 8th. BNP Paribas Exane raised shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 target price on the stock in a research report on Friday, April 17th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $276.00 price target on shares of Apple in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $327.40.
Apple Stock Up 3.5%
Shares of AAPL stock opened at $333.02 on Friday. The stock’s 50 day simple moving average is $306.62 and its 200 day simple moving average is $279.01. Apple Inc. has a twelve month low of $201.50 and a twelve month high of $334.99. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The company has a market capitalization of $4.89 trillion, a price-to-earnings ratio of 40.27, a PEG ratio of 2.78 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 firm had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. During the same quarter in the previous year, the business earned $1.65 EPS. The business’s revenue was up 16.6% on a year-over-year basis. As a group, research analysts predict that Apple Inc. will post 8.76 EPS for the current year.
Apple Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a $0.27 dividend. This is an increase from Apple’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple’s payout ratio is 13.06%.
Key Headlines Impacting Apple
Here are the key news stories impacting Apple this week:
- 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.
Insider Buying and Selling at Apple
In other news, insider Ben Borders sold 116 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.06% of the company’s stock.
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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