Apple Inc. $AAPL Holdings Decreased by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 4.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,746 shares of the iPhone maker’s stock after selling 4,473 shares during the period. Apple makes up about 4.9% of SevenBridge Financial Group LLC’s holdings, making the stock its 2nd biggest position. SevenBridge Financial Group LLC’s holdings in Apple were worth $29,706,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Apple by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock valued at $387,749,545,000 after buying an additional 26,856,752 shares during the period. State Street Corp grew its holdings in shares of Apple by 1.1% during the 4th quarter. State Street Corp now owns 604,056,505 shares of the iPhone maker’s stock valued at $164,218,801,000 after acquiring an additional 6,555,392 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Apple by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker’s stock valued at $97,031,587,000 after acquiring an additional 1,866,103 shares in the last quarter. Morgan Stanley increased its stake in shares of Apple by 0.6% in the fourth quarter. Morgan Stanley now owns 230,483,035 shares of the iPhone maker’s stock worth $62,659,118,000 after acquiring an additional 1,379,651 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Apple in the fourth quarter worth $52,266,468,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $275.15 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The firm has a market cap of $4.04 trillion, a price-to-earnings ratio of 33.27, a P/E/G ratio of 2.55 and a beta of 1.09. The business’s 50-day simple moving average is $292.16 and its 200-day simple moving average is $273.12. Apple Inc. has a 52 week low of $199.26 and a 52 week high of $317.40.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. During the same period last year, the business earned $1.65 EPS. The firm’s revenue was up 16.6% compared to the same quarter last year. As a group, equities research analysts expect that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a $0.27 dividend. 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 dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, May 11th. Apple’s payout ratio is 13.06%.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Some analysts say the price hikes could help Apple protect margins by passing through rising component costs, and long-term bulls still view the company as financially strong. Article Title
• Neutral Sentiment: Apple’s AI strategy remains a work in progress, with some coverage saying the company’s AI upgrade likely will not be a major near-term catalyst for the stock. Article Title
• Negative Sentiment: Apple’s decision to raise Mac and iPad prices has sparked concern about weaker demand and “demand friction,” especially if consumers push back on higher-priced devices. Article Title
• Negative Sentiment: Broader market weakness and a tech selloff added pressure, with Apple leading the downside among major technology names. Article Title

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Tigress Financial reissued a “strong-buy” rating and set a $375.00 price objective (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $276.00 target price on shares of Apple in a research report on Tuesday, June 9th. Maxim Group reaffirmed a “buy” rating and set a $350.00 price target (up from $310.00) on shares of Apple in a research note on Tuesday, June 9th. Citigroup reaffirmed a “buy” rating on shares of Apple in a research note on Monday, June 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Apple in a report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.85.

Insider Activity

In related news, CFO Kevan Parekh sold 1,534 shares of the firm’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the transaction, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 64,949 shares of Apple stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the completion of the transaction, the chief executive officer 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 97,875 shares of company stock valued at $24,998,541 over the last three months. Corporate insiders own 0.06% of the company’s stock.

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.