Monarch Capital Management Inc. Sells 2,953 Shares of Apple Inc. $AAPL

Monarch Capital Management Inc. cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 4.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 59,810 shares of the iPhone maker’s stock after selling 2,953 shares during the period. Apple accounts for approximately 3.7% of Monarch Capital Management Inc.’s holdings, making the stock its 2nd biggest holding. Monarch Capital Management Inc.’s holdings in Apple were worth $15,179,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. Isthmus Partners LLC increased its stake in Apple by 6.4% during the third quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker’s stock worth $25,000 after acquiring an additional 5,808 shares during the last quarter. Lifetime Wealth Management P.C. acquired a new position in shares of Apple in the 4th quarter valued at about $41,000. ROSS JOHNSON & Associates LLC lifted its stake in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares in the last quarter. LSV Asset Management purchased a new stake in shares of Apple during the 4th quarter worth about $65,000. Finally, Timmons Wealth Management LLC purchased a new stake in shares of Apple during the 4th quarter worth about $69,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Oppenheimer restated a “market perform” rating on shares of Apple in a report on Tuesday, June 9th. BNP Paribas Exane upgraded shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price objective for the company in a research note on Friday, April 17th. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research report on Tuesday, June 9th. KeyCorp reissued a “sector weight” rating on shares of Apple in a research note on Tuesday, June 9th. Finally, Evercore restated an “outperform” rating on shares of Apple in a report on Monday, June 8th. 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, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $314.85.

Insider Activity

In other Apple news, SVP Deirdre O’brien sold 30,002 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total value of $7,661,010.70. Following the transaction, the senior vice president owned 136,810 shares in the company, valued at $34,934,433.50. The trade was a 17.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the completion of the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 97,875 shares of company stock valued at $24,998,541 over the last ninety days. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $293.05 on Thursday. The business’s 50-day simple moving average is $291.83 and its 200 day simple moving average is $273.15. The company has a market cap of $4.30 trillion, a P/E ratio of 35.44, a PEG ratio of 2.56 and a beta of 1.09. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. Apple Inc. has a one year low of $199.26 and a one year high of $317.40.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share 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 firm had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. During the same quarter in the prior year, the business earned $1.65 EPS. Apple’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, sell-side analysts forecast 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 $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. This is a boost from Apple’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. Apple’s payout ratio is currently 13.06%.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s new Siri and broader AI reset is being viewed positively by analysts, with BofA reiterating a Buy rating and saying the WWDC update could strengthen Apple’s AI position and support the stock. BofA Says Apple’s (AAPL) New Siri Strategy Could Strengthen its AI Position
• Positive Sentiment: Apple’s reported chip partnership with Intel is being framed as strategically important, with investors focused on supply-chain diversification and a longer-term domestic chip roadmap that could benefit future product cycles. Apple-Intel chip deal makes strategic sense but production is years away
• Positive Sentiment: Several market commentaries say Apple shares are building toward a possible breakout, with the stock staying close to its all-time high and forming a fresh buy zone as momentum improves. Apple Stock Polishing New Buy Zone With All-Time High In Sight
• Neutral Sentiment: Apple is also drawing attention for comments from Eddy Cue about expanding entertainment offerings on Apple TV and in theaters, which supports the long-term services story but is not an immediate earnings catalyst. Apple aims for better and more entertainment offerings, executive Cue says
• Negative Sentiment: Investors are still weighing headwinds from rising memory costs and the possibility of iPhone price increases, which could pressure demand if Apple passes through higher component prices. Apple Price Hike Fears May Be Overblown, Says J.P. Morgan
• Negative Sentiment: Apple also faces legal overhang after a UK tribunal allowed a $4 billion iCloud class-action lawsuit to proceed, adding another potential regulatory and financial risk. Apple supplier Lingyi iTech prices $1.06 billion Hong Kong IPO to tap AI demand

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.