Financial Management Network Inc. Sells 2,190 Shares of Apple Inc. $AAPL

Financial Management Network Inc. cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.3% in the first quarter, Holdings Channel reports. The firm owned 65,077 shares of the iPhone maker’s stock after selling 2,190 shares during the period. Apple accounts for 2.6% of Financial Management Network Inc.’s investment portfolio, making the stock its 10th largest holding. Financial Management Network Inc.’s holdings in Apple were worth $16,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in AAPL. Isthmus Partners LLC increased its holdings in shares of Apple by 6.4% during the 3rd quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker’s stock valued at $25,000 after acquiring an additional 5,808 shares during the last quarter. Lifetime Wealth Management P.C. bought a new stake in shares of Apple during the fourth quarter valued at approximately $41,000. ROSS JOHNSON & Associates LLC raised 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 in the last quarter. LSV Asset Management bought a new position in Apple during the fourth quarter worth about $65,000. Finally, Timmons Wealth Management LLC acquired a new stake in Apple in the 4th quarter valued at $69,000. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. KeyCorp reaffirmed a “sector weight” rating on shares of Apple in a report on Tuesday, June 9th. Tigress Financial reissued a “strong-buy” rating and set a $375.00 price target (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research report on Tuesday, June 9th. Maxim Group restated a “buy” rating and set a $350.00 target price (up from $310.00) on shares of Apple in a research note on Tuesday, June 9th. Finally, Bank of America restated a “buy” rating and set a $380.00 target price on shares of Apple in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently 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 and traders see the recent decline as overdone, arguing that Apple’s pullback has created an attractive entry point and that the stock is oversold at support. Stock Of The Day: Is The Apple Sell-Off Over?
• Positive Sentiment: Morgan Stanley reiterated a Buy rating on AAPL, saying Apple’s pricing and margin-defense strategy supports upside and leaving its $360 target unchanged. Apple Buy Rating Reiterated as Margin Defense Strategy Supports Upside; $360 Price Target Unchanged
• Neutral Sentiment: Wall Street remains divided on the broader implications of Apple’s recent price hikes, with some analysts saying the company can pass through costs thanks to its loyal customer base, while others warn the iPhone will be the real test. Apple Can Get Away With Mac Price Hikes, but iPhone Is the Real Test
• Negative Sentiment: Apple raised prices on several Mac and iPad models because surging memory and storage chip costs tied to AI demand are squeezing margins, raising concerns that higher prices could hurt demand and signal more pressure ahead. Apple raises prices of MacBooks, iPads as memory costs skyrocket
• Negative Sentiment: Apple also lost a key Vision Pro hardware executive to OpenAI, adding to investor concern about execution in its spatial-computing and AI efforts. Apple (AAPL) Loses Key Vision Pro Hardware Chief to OpenAI in Major Talent Blow

Apple Stock Performance

Shares of AAPL stock opened at $284.29 on Friday. The firm has a market capitalization of $4.18 trillion, a price-to-earnings ratio of 34.38, a PEG ratio of 2.47 and a beta of 1.09. The business’s 50-day moving average price is $292.51 and its 200-day moving average price is $273.20. 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 Inc. has a 12 month low of $199.26 and a 12 month high of $317.40.

Apple (NASDAQ:AAPL) last posted 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. The business 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%.Apple’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.65 earnings per share. Equities research analysts forecast that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

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

Insider Activity at Apple

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The stock was 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. The trade was a 10.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 64,949 shares of Apple stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total value of $16,511,984.27. Following the transaction, the chief executive officer directly owned 3,280,418 shares in the company, valued at approximately $833,980,668.14. The trade was a 1.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 97,875 shares of company stock worth $24,998,541. 0.06% of the stock is owned by insiders.

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.