Apple Inc. $AAPL is PFG Investments LLC’s Largest Position

PFG Investments LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 0.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 527,569 shares of the iPhone maker’s stock after selling 4,017 shares during the quarter. Apple makes up 6.2% of PFG Investments LLC’s holdings, making the stock its largest holding. PFG Investments LLC’s holdings in Apple were worth $133,892,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Lifetime Wealth Management P.C. bought a new position in Apple during the 4th quarter valued at about $41,000. ROSS JOHNSON & Associates LLC boosted its stake in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares during the last quarter. LSV Asset Management purchased a new position in Apple during the fourth quarter valued at $65,000. Timmons Wealth Management LLC purchased a new position in shares of Apple during the 4th quarter valued at about $69,000. Finally, Inspire Investing LLC purchased a new position in Apple during the fourth quarter valued at approximately $76,000. 67.73% of the stock is owned by institutional investors.

Insider Activity at Apple

In related news, CFO Kevan Parekh sold 1,534 shares of Apple 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 sale, the chief financial officer owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ben Borders sold 116 shares of Apple stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares in the company, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 2,924 shares of company stock worth $825,546. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. KGI Securities lowered Apple from an “outperform” rating to a “hold” rating and set a $315.00 price objective for the company. in a research note on Monday, June 22nd. Maxim Group reissued a “buy” rating and issued a $350.00 price objective (up from $310.00) on shares of Apple in a research note on Tuesday, June 9th. DA Davidson reiterated a “neutral” rating and issued a $270.00 target price on shares of Apple in a report on Friday, May 1st. Royal Bank Of Canada set a $365.00 price target on shares of Apple in a report on Wednesday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $400.00 price objective on shares of Apple in a research report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $314.26.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: China approved Apple Intelligence for iPhones, a key regulatory green light that clears the way for Apple’s AI rollout in one of its most important markets and could help support upgrades and Services growth. Reuters: Apple Intelligence AI service registered with China’s cyberspace regulator
• Positive Sentiment: Reports that Apple is exploring acquisitions of AI chip startups to strengthen its server and AI hardware capabilities reinforced the idea that the company is actively investing to remain competitive in AI without a huge data-center spending spree. Reuters: Apple chasing AI chip company deals, The Information reports
• Positive Sentiment: News that Apple may spend about $30 billion through its Broadcom partnership adds confidence in supply-chain security and custom silicon development, which investors see as supportive for future product cycles and margins. Yahoo Finance/Reuters: Apple Plans to Spend $30 Billion in a Deal With Broadcom (AVGO)
• Positive Sentiment: Apple also won dismissal of a high-stakes iCloud-related lawsuit, removing an overhang and improving sentiment around legal risk. Yahoo Finance: Apple Wins Dismissal of iCloud Lawsuit
• Neutral Sentiment: Several media and analyst pieces noted Apple’s stock hitting record highs and trading near a new 52-week high, reflecting strong momentum after a sharp run-up rather than a fresh fundamental surprise. Investopedia: Apple Could Buy an AI Chip Company. Its Hot Stock Just Set a Fresh Record High
• Negative Sentiment: KeyBanc downgraded Apple to Underweight, warning that slowing hardware demand, softer Services growth, and valuation concerns could limit further upside. Yahoo Finance: KeyBanc Downgrades Apple on Growth Concerns

Apple Trading Up 4.0%

Shares of NASDAQ:AAPL opened at $327.50 on Thursday. Apple Inc. has a 1 year low of $201.50 and a 1 year high of $328.73. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The firm has a market capitalization of $4.81 trillion, a P/E ratio of 39.60, a P/E/G ratio of 2.74 and a beta of 1.10. The business’s 50-day moving average is $301.89 and its 200 day moving average is $276.27.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping 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 company had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. During the same quarter in the previous year, the firm posted $1.65 EPS. The firm’s revenue was up 16.6% compared to the same quarter last year. On average, research analysts predict that Apple Inc. will post 8.74 earnings per share for the current fiscal 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 paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. This is an increase from Apple’s previous quarterly dividend of $0.26. Apple’s dividend payout ratio is currently 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.