Park National Corp OH Acquires 4,761 Shares of Apple Inc. $AAPL

Park National Corp OH raised its holdings in Apple Inc. (NASDAQ:AAPL) by 1.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 466,121 shares of the iPhone maker’s stock after buying an additional 4,761 shares during the period. Apple makes up approximately 3.6% of Park National Corp OH’s portfolio, making the stock its 4th largest position. Park National Corp OH’s holdings in Apple were worth $118,297,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Isthmus Partners LLC grew its stake in Apple by 6.4% during the 3rd quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker’s stock worth $25,000 after purchasing an additional 5,808 shares in the last quarter. Lifetime Wealth Management P.C. acquired a new stake in Apple in the 4th quarter valued at about $41,000. ROSS JOHNSON & Associates LLC boosted its stake in shares of 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 buying an additional 180 shares during the period. LSV Asset Management purchased a new position in shares of Apple in the 4th quarter valued at about $65,000. Finally, Timmons Wealth Management LLC acquired a new position in shares of Apple during the fourth quarter worth about $69,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 64,949 shares of Apple stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the sale, the chief executive officer directly owned 3,280,418 shares in the company, valued at $833,980,668.14. This trade represents a 1.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction on 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 directly owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 97,875 shares of company stock worth $24,998,541. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $293.05 on Thursday. The stock’s 50-day simple moving average is $291.83 and its 200-day simple moving average is $273.15. The firm has a market capitalization of $4.30 trillion, a PE ratio of 35.44, a price-to-earnings-growth ratio of 2.56 and a beta of 1.09. Apple Inc. has a fifty-two week low of $199.26 and a fifty-two week high of $317.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The firm 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 firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.65 earnings per share. As a group, equities research analysts forecast that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. This is a boost from Apple’s previous quarterly dividend of $0.26. Apple’s payout ratio is presently 13.06%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group restated a “buy” rating on shares of Apple in a research note on Tuesday, June 9th. Monness Crespi & Hardt lifted their price target on shares of Apple from $315.00 to $335.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. KGI Securities cut shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 price target for the company. in a report on Monday. Evercore reissued an “outperform” rating on shares of Apple in a research report on Monday, June 8th. Finally, BNP Paribas Exane upgraded shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price objective on the stock in a report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average 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: Apple’s new Siri and broader AI reset is being viewed positively by analysts, with BofA reiterating a Buy rating and saying the WWDC update could strengthen Apple’s AI position and support the stock. BofA Says Apple’s (AAPL) New Siri Strategy Could Strengthen its AI Position
• Positive Sentiment: Apple’s reported chip partnership with Intel is being framed as strategically important, with investors focused on supply-chain diversification and a longer-term domestic chip roadmap that could benefit future product cycles. Apple-Intel chip deal makes strategic sense but production is years away
• Positive Sentiment: Several market commentaries say Apple shares are building toward a possible breakout, with the stock staying close to its all-time high and forming a fresh buy zone as momentum improves. Apple Stock Polishing New Buy Zone With All-Time High In Sight
• Neutral Sentiment: Apple is also drawing attention for comments from Eddy Cue about expanding entertainment offerings on Apple TV and in theaters, which supports the long-term services story but is not an immediate earnings catalyst. Apple aims for better and more entertainment offerings, executive Cue says
• Negative Sentiment: Investors are still weighing headwinds from rising memory costs and the possibility of iPhone price increases, which could pressure demand if Apple passes through higher component prices. Apple Price Hike Fears May Be Overblown, Says J.P. Morgan
• Negative Sentiment: Apple also faces legal overhang after a UK tribunal allowed a $4 billion iCloud class-action lawsuit to proceed, adding another potential regulatory and financial risk. Apple supplier Lingyi iTech prices $1.06 billion Hong Kong IPO to tap AI demand

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.