SBI Okasan Asset Management Co.Ltd. purchased a new position in Apple Inc. (NASDAQ:AAPL – Free Report) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 30,170 shares of the iPhone maker’s stock, valued at approximately $8,259,000. Apple comprises approximately 0.5% of SBI Okasan Asset Management Co.Ltd.’s portfolio, making the stock its 7th biggest position.
Several other institutional investors have also modified their holdings of the business. Sellwood Investment Partners LLC grew its position in shares of Apple by 110.9% during the third quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker’s stock worth $34,000 after buying an additional 71 shares in the last quarter. ROSS JOHNSON & Associates LLC grew its position in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares in the last quarter. LSV Asset Management acquired a new stake in shares of Apple in the 4th quarter valued at about $65,000. PayPay Securities Corp raised its stake in shares of Apple by 52.1% in the 4th quarter. PayPay Securities Corp now owns 365 shares of the iPhone maker’s stock valued at $99,000 after purchasing an additional 125 shares in the last quarter. Finally, eCIO Inc. acquired a new stake in shares of Apple in the 4th quarter valued at about $112,000. Institutional investors and hedge funds own 67.73% of the company’s stock.
Apple Stock Performance
Shares of AAPL stock opened at $290.55 on Wednesday. The company has a market cap of $4.27 trillion, a P/E ratio of 35.13, a PEG ratio of 2.63 and a beta of 1.09. The business has a 50 day moving average of $283.19 and a two-hundred day moving average of $271.79. Apple Inc. has a 52 week low of $195.07 and a 52 week high of $317.40. 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 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 $0.27 dividend. This is a boost from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, May 11th. Apple’s dividend payout ratio is 13.06%.
Apple News Roundup
Here are the key news stories impacting Apple this week:
- Negative Sentiment: Investors were disappointed that Siri’s AI overhaul still appears behind rivals, with launch timing stretching into later this year and some features limited to the U.S. at first. Apple shares slide after big Siri AI reveal
- Negative Sentiment: Analysts warned that Apple is relying on Google Gemini/Nvidia infrastructure for parts of its advanced AI stack, raising questions about how much of the AI value capture Apple keeps in-house. Apple failed to make its AI tool to comply to EU regulations, EU Commission says
- Negative Sentiment: Morgan Stanley said the new Siri features may be held back by older iPhones, limiting the near-term upgrade cycle and the addressable installed base. Apple’s AI Siri will be held back by aging devices, Morgan Stanley says
Analyst Ratings Changes
AAPL has been the topic of a number of recent analyst reports. Citigroup restated a “buy” rating on shares of Apple in a research note on Monday, June 1st. Monness Crespi & Hardt upped their target price 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. UBS Group reiterated a “buy” rating on shares of Apple in a research report on Tuesday. KeyCorp reiterated a “sector weight” rating on shares of Apple in a research report on Tuesday. Finally, Wedbush reiterated an “outperform” rating and issued a $400.00 target price on shares of Apple in a research report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.59.
Check Out Our Latest Research Report on Apple
Insider Buying and Selling
In other Apple news, insider Ben Borders sold 1,274 shares of the stock in a transaction 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 sale, the insider directly owned 38,713 shares of the company’s stock, valued at $11,226,770. This trade represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction 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 completion of the sale, the chief financial officer directly owned 13,366 shares in the company, valued at $3,675,650. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 97,759 shares of company stock valued at $24,964,305 over the last three months. 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.
Further Reading
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