Sterling Capital Management LLC Sells 198,618 Shares of Apple Inc. $AAPL

Sterling Capital Management LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 30.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 448,175 shares of the iPhone maker’s stock after selling 198,618 shares during the period. Apple accounts for about 2.2% of Sterling Capital Management LLC’s holdings, making the stock its 5th biggest holding. Sterling Capital Management LLC’s holdings in Apple were worth $113,742,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Isthmus Partners LLC grew its position in shares of Apple by 6.4% during the third quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker’s stock worth $25,000 after acquiring an additional 5,808 shares during the last quarter. Lifetime Wealth Management P.C. purchased a new stake in Apple in the 4th quarter valued at $41,000. ROSS JOHNSON & Associates LLC raised its position in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares during the last quarter. LSV Asset Management acquired a new stake in Apple during the 4th quarter worth $65,000. Finally, Timmons Wealth Management LLC acquired a new stake in Apple during the 4th quarter worth $69,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In other news, insider Ben Borders sold 116 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the transaction, the insider directly owned 38,713 shares of the company’s stock, valued at $11,425,754.82. This represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the completion of 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. Insiders have sold a total of 2,924 shares of company stock worth $825,546 over the last 90 days. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of recent research reports. Bank of America restated a “buy” rating and issued a $380.00 price objective on shares of Apple in a research note on Thursday, June 18th. Evercore reissued an “outperform” rating on shares of Apple in a report on Monday, June 8th. Wells Fargo & Company restated an “overweight” rating and issued a $310.00 price target (up from $300.00) on shares of Apple in a research report on Friday, May 1st. Barclays reaffirmed an “underweight” rating on shares of Apple in a research note on Tuesday, June 9th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Apple in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $314.85.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Reports that Apple plans at least five new iPhone models through early 2027, including a stronger foldable iPhone push, have reinforced expectations for a fresh product cycle and a longer growth runway. Apple plans five new iPhones through 2027, eyes Chinese-made chips amid foldable push, reports say
• Positive Sentiment: Apple also appears to be benefiting from investor optimism that it can navigate the memory-chip shortage and secure supply, including possible deals with lower-cost Chinese chipmakers, which could help protect future production. Apple negotiates with blacklisted Chinese chipmakers amid AI-driven memory crunch
• Positive Sentiment: Several market commentary pieces said Apple is holding up better than the broader tech sector, with traders viewing recent weakness as a buying opportunity and analysts still pointing to solid upside potential. Apple’s Aggressive Price Hikes Raise Eyebrows As Wall Street Links AI Chip Shortages To Inflation Pressure
• Neutral Sentiment: Apple’s recent price hikes on Macs and iPads are being interpreted two ways: as a sign of inflationary component costs, but also as a margin-protection move that may not hurt demand as much as feared. Jim Cramer’s Latest Thought on Apple Inc. (AAPL)
• Neutral Sentiment: Apple’s insider-selling activity and mixed institutional positioning are adding caution, but they are not the main driver of the stock today. Apple Stock (AAPL) Opinions on Recent Price Hikes and Analyst Views
• Negative Sentiment: Some coverage continues to flag pressure on Apple’s margins and demand if higher component costs force more price increases, which could weigh on sentiment over time. Is Apple stock in trouble? Rising costs threaten margins, demand

Apple Price Performance

Shares of NASDAQ:AAPL opened at $308.63 on Monday. Apple Inc. has a 52 week low of $201.50 and a 52 week high of $317.40. The company has a 50-day moving average price of $295.25 and a 200 day moving average price of $273.84. The company has a market cap of $4.53 trillion, a P/E ratio of 37.32, a PEG ratio of 2.68 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) last issued its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. The business had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.65 EPS. Research analysts predict that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders 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 was Monday, May 11th. This is an increase from Apple’s previous quarterly dividend of $0.26. Apple’s 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.