Apple Inc. $AAPL Stock Holdings Lessened by Meadowbrook Advisors Group LLC

Meadowbrook Advisors Group LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 6.9% in the first quarter, Holdings Channel.com reports. The fund owned 54,801 shares of the iPhone maker’s stock after selling 4,035 shares during the quarter. Apple makes up about 8.3% of Meadowbrook Advisors Group LLC’s holdings, making the stock its biggest holding. Meadowbrook Advisors Group LLC’s holdings in Apple were worth $13,908,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Overbrook Management Corp increased its holdings in shares of Apple by 57.4% in the 4th quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock worth $28,449,000 after buying an additional 38,174 shares during the last quarter. Torren Management LLC bought a new stake in shares of Apple during the 4th quarter worth $1,178,000. Adventist Health System Sunbelt Healthcare Corp bought a new stake in shares of Apple during the 4th quarter worth $105,482,000. KBC Group NV grew its position in Apple by 3.1% in the fourth quarter. KBC Group NV now owns 7,044,697 shares of the iPhone maker’s stock worth $1,915,172,000 after acquiring an additional 214,215 shares in the last quarter. Finally, Professional Advisory Services Inc. grew its position in Apple by 29.6% in the fourth quarter. Professional Advisory Services Inc. now owns 94,277 shares of the iPhone maker’s stock worth $25,630,000 after acquiring an additional 21,508 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AAPL shares. The Goldman Sachs Group restated a “buy” rating on shares of Apple in a research report on Monday, March 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a report on Tuesday, June 9th. Jefferies Financial Group reiterated a “hold” rating on shares of Apple in a research report on Tuesday, June 9th. Wells Fargo & Company reissued an “overweight” rating and set a $310.00 price objective (up from $300.00) on shares of Apple in a report on Friday, May 1st. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $276.00 target price on shares of Apple in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $314.85.

Trending Headlines about Apple

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

Insider Activity

In related news, insider Ben Borders sold 1,274 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the transaction, the insider directly owned 38,713 shares of the company’s stock, valued at $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Deirdre O’brien sold 30,002 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total value of $7,661,010.70. Following the transaction, the senior vice president owned 136,810 shares in the company, valued at $34,934,433.50. This trade represents a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 97,875 shares of company stock valued at $24,998,541 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Down 6.1%

NASDAQ AAPL opened at $275.15 on Friday. The firm has a market cap of $4.04 trillion, a PE ratio of 33.27, a price-to-earnings-growth ratio of 2.55 and a beta of 1.09. Apple Inc. has a 1-year low of $199.26 and a 1-year high of $317.40. The stock has a 50-day moving average of $292.16 and a 200-day moving average of $273.12. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70.

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

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a $0.27 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, May 11th. Apple’s dividend payout ratio (DPR) is 13.06%.

About Apple

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.