Parker Financial LLC Has $1.42 Million Stock Position in Apple Inc. $AAPL

Parker Financial LLC grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 42.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,585 shares of the iPhone maker’s stock after buying an additional 1,674 shares during the period. Apple makes up 0.6% of Parker Financial LLC’s portfolio, making the stock its 15th biggest position. Parker Financial LLC’s holdings in Apple were worth $1,418,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Apple in the 4th quarter valued at $52,266,468,000. Nuveen LLC acquired a new position in Apple in the first quarter valued at about $17,472,482,000. Cardano Risk Management B.V. grew its stake in Apple by 890.7% in the fourth quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker’s stock valued at $11,413,990,000 after acquiring an additional 37,746,784 shares during the period. Laurel Wealth Advisors LLC increased its holdings in shares of Apple by 20,464.8% in the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock worth $5,553,753,000 after acquiring an additional 26,937,401 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Apple by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock worth $387,749,545,000 after acquiring an additional 26,856,752 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Rosenblatt Securities reissued a “neutral” rating and set a $276.00 target price on shares of Apple in a research note on Tuesday, June 9th. TD Cowen upped their price target on shares of Apple from $335.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. BNP Paribas Exane raised shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price objective for the company in a research report on Friday, April 17th. Tigress Financial restated a “strong-buy” rating and set a $375.00 price objective (up from $305.00) on shares of Apple in a report on Thursday, May 14th. Finally, Citigroup reaffirmed a “buy” rating on shares of Apple in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $314.85.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $308.63 on Friday. The company’s 50-day moving average price is $295.25 and its two-hundred day moving average price is $273.85. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. Apple Inc. has a one year low of $201.50 and a one year high of $317.40. The stock has a market capitalization of $4.53 trillion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 2.68 and a beta of 1.10.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. The company had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company’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 EPS. On average, equities analysts forecast that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.3%. This is a boost from Apple’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. Apple’s payout ratio is currently 13.06%.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Reports that Apple plans at least five new iPhone models through early 2027, including a stronger foldable iPhone push, have reinforced expectations for a fresh product cycle and a longer growth runway. Apple plans five new iPhones through 2027, eyes Chinese-made chips amid foldable push, reports say
• Positive Sentiment: Apple also appears to be benefiting from investor optimism that it can navigate the memory-chip shortage and secure supply, including possible deals with lower-cost Chinese chipmakers, which could help protect future production. Apple negotiates with blacklisted Chinese chipmakers amid AI-driven memory crunch
• Positive Sentiment: Several market commentary pieces said Apple is holding up better than the broader tech sector, with traders viewing recent weakness as a buying opportunity and analysts still pointing to solid upside potential. Apple’s Aggressive Price Hikes Raise Eyebrows As Wall Street Links AI Chip Shortages To Inflation Pressure
• Neutral Sentiment: Apple’s recent price hikes on Macs and iPads are being interpreted two ways: as a sign of inflationary component costs, but also as a margin-protection move that may not hurt demand as much as feared. Jim Cramer’s Latest Thought on Apple Inc. (AAPL)
• Neutral Sentiment: Apple’s insider-selling activity and mixed institutional positioning are adding caution, but they are not the main driver of the stock today. Apple Stock (AAPL) Opinions on Recent Price Hikes and Analyst Views
• Negative Sentiment: Some coverage continues to flag pressure on Apple’s margins and demand if higher component costs force more price increases, which could weigh on sentiment over time. Is Apple stock in trouble? Rising costs threaten margins, demand

Insider Activity at Apple

In other news, insider Ben Borders sold 1,274 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the sale, the insider owned 38,713 shares in the company, valued at $11,226,770. This represents a 3.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction that occurred 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 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 SEC filing for this sale provides additional information. Insiders have sold 2,924 shares of company stock valued at $825,546 over the last three months. 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.