Apple Inc. $AAPL is Summit Financial LLC’s 4th Largest Position

Summit Financial LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 531,978 shares of the iPhone maker’s stock after selling 11,798 shares during the period. Apple makes up approximately 2.1% of Summit Financial LLC’s holdings, making the stock its 4th largest position. Summit Financial LLC’s holdings in Apple were worth $144,624,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Overbrook Management Corp raised its holdings in 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 acquiring an additional 38,174 shares during the last quarter. Tufton Capital Management raised its holdings in Apple by 4.3% in the 3rd quarter. Tufton Capital Management now owns 100,130 shares of the iPhone maker’s stock worth $25,496,000 after acquiring an additional 4,157 shares during the last quarter. Torren Management LLC purchased a new position in Apple in the 4th quarter worth approximately $1,178,000. KBC Group NV raised its holdings in Apple by 3.1% in the 4th 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 during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Apple by 5.5% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 2,246,305 shares of the iPhone maker’s stock worth $572,168,000 after acquiring an additional 116,960 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other news, insider Ben Borders sold 1,274 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the sale, the insider owned 38,713 shares of the company’s stock, valued at $11,226,770. The trade was a 3.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy D. Cook sold 64,949 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the sale, the chief executive officer directly owned 3,280,418 shares of the company’s stock, valued at approximately $833,980,668.14. The trade was a 1.94% 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. In the last 90 days, insiders sold 97,759 shares of company stock worth $24,964,305. 0.06% of the stock is currently owned by insiders.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s Services business posted record revenue in the fiscal second quarter, supported by ecosystem growth, AI-related updates, and its huge installed device base. Apple Continues to Expand Services Business: What’s the Path Ahead?
• Positive Sentiment: Several commentators said Apple still has strong fundamentals, including a solid balance sheet, loyal customer base, and products investors continue to love, which supports the long-term bull case. Jim Cramer on Apple: “It Still Has Products We All Love”
• Positive Sentiment: Analysts at Erste Group Bank raised their earnings estimates for Apple, signaling expectations for steady profit growth over the next two fiscal years. Apple earnings estimate update
• Neutral Sentiment: Apple’s WWDC announcements showed a clearer AI roadmap, including next-generation Siri features and device software updates, but the market appears to be waiting for stronger evidence that these changes will drive meaningful revenue growth. Apple Unveils Siri AI. Here’s Why It’s Not Impressing Investors
• Neutral Sentiment: Some coverage suggested Apple’s AI launch could help the stock over time, but it may take more than Siri upgrades alone to restore investor enthusiasm. Apple Just Gave Investors a Glimpse of Is AI Future at WWDC. It May Take More to Revive AAPL Stock.
• Negative Sentiment: Investors are worried Apple’s AI ambitions are colliding with a memory-cost crunch, creating pricing pressure that could weigh on margins. Apple Faces a No-Win Pricing Dilemma. Should Investors Be Worried?
• Negative Sentiment: Multiple reports say the market was disappointed that Apple’s Siri AI reveal did not feel like a big enough breakthrough to justify a sharper rerating of the stock. Apple’s AI News Underwhelms. Siri AI Release Concerns Persist.

Apple Trading Down 1.5%

NASDAQ:AAPL opened at $291.13 on Friday. 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 $195.07 and a 12 month high of $317.40. The company has a market cap of $4.28 trillion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 2.57 and a beta of 1.09. The company has a 50 day simple moving average of $285.64 and a two-hundred day simple moving average of $272.27.

Apple (NASDAQ:AAPL) last posted its 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 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 the consensus estimate 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% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 8.75 earnings per share 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 given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. Apple’s payout ratio is presently 13.06%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AAPL shares. DA Davidson restated a “neutral” rating and issued a $270.00 price objective on shares of Apple in a report on Friday, May 1st. KeyCorp reaffirmed a “sector weight” rating on shares of Apple in a research report on Tuesday. Morgan Stanley set a $325.00 target price on shares of Apple in a research report on Tuesday. Jefferies Financial Group reaffirmed a “hold” rating on shares of Apple in a research report on Tuesday. Finally, Monness Crespi & Hardt lifted their target price on shares of Apple from $315.00 to $335.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $314.59.

Apple Company 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.