Apple Inc. $AAPL is State of Michigan Retirement System’s 2nd Largest Position

State of Michigan Retirement System lessened its stake in Apple Inc. (NASDAQ:AAPL) by 6.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,900,499 shares of the iPhone maker’s stock after selling 283,300 shares during the quarter. Apple comprises about 5.2% of State of Michigan Retirement System’s holdings, making the stock its 2nd largest holding. State of Michigan Retirement System’s holdings in Apple were worth $989,908,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Reyes Financial Architecture Inc. raised its holdings in shares of Apple by 0.4% during the 3rd quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock worth $2,520,000 after acquiring an additional 37 shares during the period. WESPAC Advisors LLC grew its holdings in shares of Apple by 0.3% in the fourth quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker’s stock valued at $3,351,000 after purchasing an additional 39 shares during the period. Interactive Financial Advisors Inc. grew its holdings in shares of Apple by 4.0% in the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock valued at $286,000 after purchasing an additional 40 shares during the period. Sugar Maple Asset Management LLC increased its position in Apple by 2.0% during the first quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker’s stock worth $515,000 after purchasing an additional 40 shares during the last quarter. Finally, Orion Investment Co raised its stake in Apple by 0.3% during the fourth quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker’s stock worth $3,902,000 after purchasing an additional 41 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $340.08 on Wednesday. The firm has a 50-day simple moving average of $308.22 and a two-hundred day simple moving average of $280.18. The stock has a market cap of $4.99 trillion, a PE ratio of 41.12, a P/E/G ratio of 2.91 and a beta of 1.10. Apple Inc. has a 1-year low of $201.50 and a 1-year high of $342.89. 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 (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. The firm had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.65 EPS. As a group, analysts forecast that Apple Inc. will post 8.76 EPS for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were given a $0.27 dividend. The ex-dividend date of this dividend 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 dividend payout ratio is presently 13.06%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Bank of America reiterated a “buy” rating and issued a $380.00 target price on shares of Apple in a report on Thursday, June 18th. DA Davidson reaffirmed a “neutral” rating and set a $270.00 price target on shares of Apple in a research report on Friday, May 1st. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a report on Tuesday, June 9th. Monness Crespi & Hardt increased their price objective on Apple from $315.00 to $335.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $276.00 target price on shares of Apple in a research note 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 assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $327.40.

Insider Buying and Selling

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 transaction of $369,460.00. Following the transaction, the insider directly owned 38,713 shares in the company, valued at $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by company insiders.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Investor optimism is building ahead of earnings. Analysts expect continued strength in iPhone and Services revenue, while Goldman Sachs raised its price target and projected outperformance in iPhone and Mac sales. Options activity also indicates expectations for a substantial post-earnings move. Goldman raises Apple price target
• Positive Sentiment: Apple launched Apple Upgrade, a U.S. leasing program powered by Klarna. Customers can lease iPhones, Macs, iPads and Apple Watches through monthly payments, including iPhone plans starting at $17.99. The program could improve affordability, support upgrade frequency and broaden access to Apple’s hardware ecosystem. Apple launches US device leasing program with Klarna
• Neutral Sentiment: Apple’s privacy positioning is receiving favorable attention after users’ seemingly private Claude AI conversations appeared in Google search results. The publicity may reinforce Apple’s privacy brand, although the direct financial impact is unclear. Claude chats exposed in Google searches
• Negative Sentiment: Valuation and execution risks are elevated. KeyBanc remains bearish, citing slowing unit and user growth, while Apple’s premium earnings multiple leaves limited room for an earnings or outlook disappointment. Investors will closely watch iPhone demand, Services growth, margins and management commentary during Tim Cook’s final earnings call as CEO. Apple earnings preview
• Negative Sentiment: Rising memory and component costs could pressure hardware margins, particularly if tariffs restrict Apple’s access to lower-cost Chinese suppliers. Separately, a lawsuit alleges that a fraudulent Bitcoin wallet app on the App Store caused about $1.8 million in losses, creating a modest App Store oversight and reputational risk. Memory tariffs and Apple margins

Apple Company 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.