SJS Investment Consulting Inc. Has $16.85 Million Position in Apple Inc. $AAPL

SJS Investment Consulting Inc. lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 7.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 66,401 shares of the iPhone maker’s stock after selling 5,061 shares during the period. Apple accounts for approximately 2.1% of SJS Investment Consulting Inc.’s holdings, making the stock its 7th biggest position. SJS Investment Consulting Inc.’s holdings in Apple were worth $16,852,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AAPL. Norges Bank bought a new position in Apple in the 4th quarter worth about $52,266,468,000. Nuveen LLC bought a new stake in shares of Apple in the 1st quarter worth $17,472,482,000. Cardano Risk Management B.V. lifted its holdings in Apple by 890.7% in the 4th 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 last quarter. Laurel Wealth Advisors LLC lifted its stake in Apple by 20,464.8% during the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock valued at $5,553,753,000 after purchasing an additional 26,937,401 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Apple by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock valued at $387,749,545,000 after acquiring an additional 26,856,752 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In other Apple news, insider Ben Borders sold 116 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 38,713 shares of the company’s stock, valued at $11,425,754.82. This represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the sale, the chief financial officer directly owned 13,366 shares in the company, valued at $3,675,650. The trade was a 10.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 2,924 shares of company stock worth $825,546. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AAPL shares. Morgan Stanley reiterated an “overweight” rating on shares of Apple in a research report on Friday, June 26th. BNP Paribas Exane upgraded Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price objective on the stock in a report on Friday, April 17th. Wedbush reaffirmed an “outperform” rating and set a $400.00 price objective on shares of Apple in a research note on Friday, June 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research note on Tuesday, June 9th. Finally, Robert W. Baird set a $310.00 price objective on Apple in a research report on Friday, May 1st. One 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 company. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $314.85.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple announced a multiyear partnership with Broadcom worth more than $30 billion to design and produce U.S.-made custom silicon and wireless chips, its largest domestic manufacturing commitment to date. The deal improves supply-chain resiliency and supports future product cycles. Article Title
• Positive Sentiment: JPMorgan said Apple’s recent price increases for Mac and iPad, and any possible iPhone hikes, are unlikely to significantly hurt demand, and it raised its price target while reiterating a Buy rating. Article Title
• Positive Sentiment: UBS said App Store data points to roughly 3% growth in Apple’s June quarter, signaling that services revenue remains resilient even as U.S. revenue softens somewhat. Article Title
• Neutral Sentiment: Several pieces framed Apple as a potential leader in a broader “Magnificent Seven” rebound, but these were mostly market commentary rather than company-specific catalysts. Article Title
• Negative Sentiment: An EU court rejected Apple’s challenge to Digital Markets Act gatekeeper rules, leaving the company exposed to tighter App Store and iOS antitrust obligations in Europe. Article Title
• Negative Sentiment: Hedgeye reportedly added Apple as a new short idea, which may be adding some caution around the stock’s near-term valuation after a strong run. Article Title

Apple Stock Performance

AAPL opened at $316.16 on Friday. The company has a market cap of $4.64 trillion, a PE ratio of 38.23, a price-to-earnings-growth ratio of 2.73 and a beta of 1.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The stock has a 50-day moving average of $298.65 and a 200-day moving average of $274.97. Apple Inc. has a 52-week low of $201.50 and a 52-week high of $317.40.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating 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 company had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. During the same quarter last year, the firm posted $1.65 earnings per share. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, equities research analysts forecast that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

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

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.