Gabelli Funds LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 0.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 421,859 shares of the iPhone maker’s stock after selling 2,143 shares during the quarter. Apple makes up approximately 0.7% of Gabelli Funds LLC’s portfolio, making the stock its 21st largest holding. Gabelli Funds LLC’s holdings in Apple were worth $107,064,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. First National Bank of Hutchinson increased its position 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 during the period. Eagle Capital Management LLC boosted 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 acquiring an additional 272 shares during the period. Brighton Jones LLC boosted 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 acquiring an additional 69,207 shares during the period. Revolve Wealth Partners LLC grew its position in shares of Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after acquiring an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE grew its position in shares of Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after acquiring an additional 1,155 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently commented on AAPL shares. Tigress Financial reiterated a “strong-buy” rating and issued a $375.00 price target (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. Royal Bank Of Canada set a $365.00 price objective on shares of Apple in a research note on Wednesday, July 15th. TD Cowen upped their target price on shares of Apple from $350.00 to $400.00 and gave the company a “buy” rating in a report on Friday, July 31st. KGI Securities downgraded shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price for the company. in a research note on Monday, June 22nd. Finally, UBS Group reiterated a “neutral” rating on shares of Apple in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $330.44.
Apple News Summary
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Planned CEO transition appears orderly. Tim Cook will step down in September and be succeeded by longtime Apple executive John Ternus, a veteran with experience dating back to the Steve Jobs era. Cook’s endorsement and Ternus’ familiarity with Apple’s products may reduce concerns about strategic disruption. Tim Cook Says There’s ‘No Better Person’ to Take Over at Apple
- Positive Sentiment: Core business momentum remains strong. Apple’s latest quarter exceeded earnings and revenue expectations, with revenue up roughly 16% year over year. Broad iPhone, Mac and Services demand continues to support the bullish case. Tim Cook’s Last Quarter as CEO Was Apple’s Best June Quarter Ever
- Positive Sentiment: App Store monetization is holding up. App Store revenue increased slightly despite a 4% decline in iPhone and iPad downloads, as revenue per download rose 4.7%. This suggests continued pricing and engagement resilience in a key Services business. Apple App Store Revenue Ticks Up Despite Falling Downloads
- Neutral Sentiment: OpenAI is seeking dismissal of Apple’s trade-secrets lawsuit. OpenAI denies misappropriating confidential information related to Apple’s consumer-hardware efforts. The filing does not resolve the dispute, leaving legal and competitive uncertainty in place. OpenAI Seeks Dismissal of Apple’s Trade Secrets Lawsuit
- Negative Sentiment: Near-term cost and growth pressures are weighing on sentiment. Rising memory prices, supply constraints and policy risks could pressure margins, while slower Services growth has prompted some firms to downgrade Apple to Hold or Moderate Sell. Apple’s Capex Strategy Worked But Other Pressures Are Mounting
- Negative Sentiment: Competition in emerging hardware is increasing. Samsung reported a 30% rise in foldable-device preorders, highlighting a market Apple has yet to enter. Investors may view future Apple foldables as an opportunity, but execution and timing remain uncertain. Samsung Foldable Preorders Jump 30%
Insider Buying and Selling
In related news, insider Ben Borders sold 116 shares of the firm’s stock in a transaction dated 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 $11,425,754.82. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 insiders.
Apple Stock Performance
NASDAQ:AAPL opened at $313.33 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The firm has a market cap of $4.57 trillion, a price-to-earnings ratio of 35.93, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. The firm’s fifty day moving average price is $309.45 and its 200 day moving average price is $283.42. Apple Inc. has a 1-year low of $219.25 and a 1-year high of $344.57.
Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. During the same quarter in the prior year, the firm earned $1.57 EPS. Apple’s quarterly revenue was up 16.4% on a year-over-year basis. On average, sell-side analysts expect that Apple Inc. will post 8.76 EPS for the current year.
Apple Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, August 10th. Apple’s dividend payout ratio is currently 12.39%.
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.
Featured Stories
- Five stocks we like better than Apple
- Albemarle’s Blowout Quarter Shows Why Lithium Still Matters
- Can DICK’S Turn Foot Locker Into a Winner?
- Why Dutch Bros Plunged Despite a Q2 Earnings Beat and Record Revenue
- Take-Two’s Q1 Results Leave GTA 6 Bulls Stuck in the Fog of War
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Free Report).
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.
