Apple Inc. $AAPL Shares Sold by Summitry LLC

Summitry LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 35.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 89,797 shares of the iPhone maker’s stock after selling 48,403 shares during the quarter. Summitry LLC’s holdings in Apple were worth $24,412,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Apple by 11.7% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45,773 shares of the iPhone maker’s stock valued at $12,444,000 after purchasing an additional 4,795 shares during the last quarter. Linden Rose Investment LLC purchased a new position in Apple during the fourth quarter worth approximately $26,246,000. Fisher Asset Management LLC raised its stake in Apple by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 55,146,752 shares of the iPhone maker’s stock worth $14,992,196,000 after purchasing an additional 704,293 shares during the period. Rooted Wealth Advisors Inc. raised its stake in Apple by 1.1% during the fourth quarter. Rooted Wealth Advisors Inc. now owns 16,422 shares of the iPhone maker’s stock worth $4,541,000 after purchasing an additional 179 shares during the period. Finally, CYBER HORNET ETFs LLC raised its stake in Apple by 4.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 43,694 shares of the iPhone maker’s stock worth $11,879,000 after purchasing an additional 2,008 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AAPL shares. Monness Crespi & Hardt increased their price target on shares of Apple from $315.00 to $335.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Stifel Nicolaus set a $330.00 price target on shares of Apple in a research note on Monday, March 2nd. Sanford C. Bernstein reissued an “outperform” rating on shares of Apple in a research note on Monday. Wedbush reissued an “outperform” rating and issued a $400.00 target price on shares of Apple in a research note on Friday. Finally, Citigroup reissued a “buy” rating on shares of Apple in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $312.82.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s new Siri AI and broader Apple Intelligence rollout could improve user engagement, strengthen the ecosystem, and support longer-term monetization across its large installed base. Apple introduces Siri AI, a profoundly more capable and personal assistant
• Positive Sentiment: Wedbush and other bullish analysts said the WWDC announcements could unlock significant AI-driven upside, with one note calling the event a potential catalyst for meaningful monetization across Apple’s installed base. AI Could Add $75-$100 to Apple Stock (AAPL), Says Top Wedbush Analyst after WWDC Event
• Neutral Sentiment: Apple expanded developer tools and AI frameworks, including cheaper access to its Foundation Models for smaller developers, which may help grow the ecosystem but is unlikely to move near-term earnings immediately. Apple bets cheaper AI will woo small developers
• Negative Sentiment: The market’s reaction suggests investors wanted a bigger AI breakthrough; several reports said Apple shares faded after the announcements as the new platform was seen as underwhelming versus high expectations. Apple (AAPL) Stock Slides after New AI Platform Underwhelms
• Negative Sentiment: Apple is still being viewed as late to AI, and some coverage framed WWDC as catch-up rather than a clear leadership moment, raising concerns that the announcements may not be enough to drive a new wave of hardware upgrades right away. Apple plays catch-up at WWDC

Insider Buying and Selling at Apple

In other news, CFO Kevan Parekh sold 1,534 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ben Borders sold 1,274 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the transaction, the insider owned 38,713 shares in the company, valued at approximately $11,226,770. The trade was a 3.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 97,759 shares of company stock valued at $24,964,305. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL opened at $301.54 on Tuesday. The company has a fifty day simple moving average of $282.36 and a 200 day simple moving average of $271.63. The firm has a market cap of $4.43 trillion, a price-to-earnings ratio of 36.46, a PEG ratio of 2.68 and a beta of 1.09. Apple Inc. has a twelve month low of $195.07 and a twelve month high of $317.40. 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 (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.06. The company had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the business earned $1.65 EPS. Equities research analysts expect that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, May 11th. This is an increase from Apple’s previous quarterly dividend of $0.26. Apple’s payout ratio is 13.06%.

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.