Apple Inc. $AAPL Holdings Cut by United Asset Strategies Inc.

United Asset Strategies Inc. lowered its position in Apple Inc. (NASDAQ:AAPL) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,942 shares of the iPhone maker’s stock after selling 2,986 shares during the quarter. Apple accounts for approximately 4.6% of United Asset Strategies Inc.’s holdings, making the stock its 3rd biggest holding. United Asset Strategies Inc.’s holdings in Apple were worth $57,595,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Overbrook Management Corp raised its holdings in shares of Apple by 57.4% during the fourth quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock valued at $28,449,000 after buying an additional 38,174 shares during the last quarter. Rainier Family Wealth Inc. grew its holdings in Apple by 14.1% in the 1st quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker’s stock worth $6,189,000 after buying an additional 3,014 shares in the last quarter. Torren Management LLC bought a new position in Apple in the 4th quarter worth approximately $1,178,000. Summit Wealth Partners LLC increased its position in Apple by 108.3% in the 1st quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker’s stock valued at $8,880,000 after acquiring an additional 18,188 shares during the period. Finally, Adventist Health System Sunbelt Healthcare Corp bought a new stake in Apple during the 4th quarter valued at $105,482,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of AAPL opened at $333.74 on Monday. The business’s 50-day moving average is $303.61 and its 200-day moving average is $277.12. 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 company has a market capitalization of $4.90 trillion, a price-to-earnings ratio of 40.36, a P/E/G ratio of 2.90 and a beta of 1.10. Apple Inc. has a fifty-two week low of $201.50 and a fifty-two week high of $334.99.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. During the same period last year, the company posted $1.65 earnings per share. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post 8.76 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. Apple’s payout ratio is currently 13.06%.

Insiders Place Their Bets

In other news, CFO Kevan Parekh sold 1,534 shares of the company’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 of the company’s stock, valued at approximately $3,675,650. This represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ben Borders sold 116 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the sale, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. This represents 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. Insiders have sold a total of 2,924 shares of company stock valued at $825,546 in the last three months. Company insiders own 0.06% of the company’s stock.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: HSBC upgraded Apple Inc. (NASDAQ: AAPL) to Buy and raised its price target to $366 from $260, saying the company is at an operational turning point with AI features and hardware momentum supporting growth. HSBC upgrades Apple to Buy, sees “strong cycle ahead”
• Positive Sentiment: China approved Apple Intelligence for iPhones, and Apple will integrate Alibaba’s Qwen AI model in its China rollout, a key step that could expand Apple’s AI adoption in one of its most important markets. Alibaba and Baidu shares jump in Hong Kong on Apple AI partnership
• Positive Sentiment: Multiple reports say Apple briefly overtook Nvidia in market value, reinforcing the view that investors are rotating toward Apple’s consumer execution and away from some AI-heavy names. Apple closes in on Nvidia in race for world’s most valuable company
• Positive Sentiment: Several commentaries highlighted Apple’s cash generation, shareholder returns, and robotics/innovation efforts, supporting the bullish “cash flow machine” and diversification narrative. Apple’s Core Business Cash Flow Machine Will Support Innovation and Diversification

Analyst Ratings Changes

AAPL has been the subject of several recent analyst reports. Royal Bank Of Canada set a $365.00 price target on Apple in a research note on Wednesday. TD Cowen upped their price objective on shares of Apple from $335.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Maxim Group reiterated a “buy” rating and issued a $350.00 target price (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. UBS Group set a $250.00 target price on shares of Apple in a research note on Tuesday, July 14th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Apple in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $318.43.

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.