Apple Inc. $AAPL Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its position in shares of Apple Inc. (NASDAQ:AAPL) by 10.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,154,968 shares of the iPhone maker’s stock after purchasing an additional 106,491 shares during the period. Apple makes up about 3.7% of Illinois Municipal Retirement Fund’s investment portfolio, making the stock its 2nd largest position. Illinois Municipal Retirement Fund’s holdings in Apple were worth $293,119,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. First National Bank of Hutchinson increased its holdings in Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after purchasing an additional 6,982 shares during the last quarter. Eagle Capital Management LLC raised its position in shares of Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after purchasing an additional 272 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after buying an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after buying an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE grew its position in shares of Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after buying an additional 1,155 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Evercore restated an “outperform” rating on shares of Apple in a research note on Wednesday, July 8th. Wells Fargo & Company reiterated an “overweight” rating and set a $350.00 price objective (up from $310.00) on shares of Apple in a research note on Friday. KGI Securities lowered shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 price objective for the company. in a report on Monday, June 22nd. JPMorgan Chase & Co. dropped their target price on shares of Apple from $345.00 to $340.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Bank of America restated a “buy” rating and issued a $380.00 target price on shares of Apple in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $331.60.

Insider Activity

In other news, insider Ben Borders sold 1,274 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the transaction, the insider directly owned 38,713 shares in the company, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple reported record June-quarter revenue of $109.4 billion, up 16.4% year over year, and diluted EPS of $2.02, exceeding Wall Street expectations. iPhone revenue rose 22% to $54.3 billion, while Mac revenue increased 29% to $10.4 billion. Apple reports third quarter results
• Positive Sentiment: Apple’s large installed base, strong hardware demand and potential consumer-AI opportunities remain long-term supports. Some analysts remain bullish: TD Cowen raised its price target to $400, while other firms maintained Buy or Overweight ratings despite trimming estimates. Analyst raises Apple price target
• Positive Sentiment: The company declared a quarterly dividend of $0.27 per share, payable August 13 to shareholders of record August 10. Apple also continues to emphasize an AI strategy that requires less capital spending than the infrastructure-heavy approach used by some peers. Apple Q3 financial results

Apple Stock Performance

AAPL stock opened at $308.91 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. The firm has a market cap of $4.54 trillion, a P/E ratio of 35.43, a P/E/G ratio of 2.88 and a beta of 1.10. Apple Inc. has a 12-month low of $201.50 and a 12-month high of $344.57. The stock’s 50 day simple moving average is $309.51 and its 200 day simple moving average is $281.45.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.13. The firm had revenue of $109.42 billion for the quarter, compared to analysts’ expectations of $109.04 billion. Apple had a return on equity of 142.29% and a net margin of 27.62%.The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period last year, the business posted $1.57 earnings per share. As a group, equities research analysts predict that Apple Inc. will post 8.76 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, August 10th. Apple’s dividend payout ratio is 12.39%.

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.