Biondo Investment Advisors LLC Has $58.37 Million Holdings in Apple Inc. $AAPL

Biondo Investment Advisors LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 3.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 214,696 shares of the iPhone maker’s stock after selling 7,309 shares during the period. Apple accounts for 7.1% of Biondo Investment Advisors LLC’s portfolio, making the stock its 2nd biggest position. Biondo Investment Advisors LLC’s holdings in Apple were worth $58,367,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sellwood Investment Partners LLC raised its holdings in shares of Apple by 110.9% in the third quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker’s stock valued at $34,000 after acquiring an additional 71 shares in the last quarter. ROSS JOHNSON & Associates LLC raised its holdings in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares in the last quarter. Timmons Wealth Management LLC bought a new stake in shares of Apple in the fourth quarter valued at about $69,000. LSV Asset Management bought a new stake in shares of Apple in the fourth quarter valued at about $65,000. Finally, PayPay Securities Corp raised its holdings in shares of Apple by 52.1% in the fourth quarter. PayPay Securities Corp now owns 365 shares of the iPhone maker’s stock valued at $99,000 after acquiring an additional 125 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

More Apple News

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.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Rosenblatt Securities reiterated a “neutral” rating and issued a $276.00 target price on shares of Apple in a research note on Tuesday, June 9th. Wedbush reiterated an “outperform” rating and issued a $400.00 target price on shares of Apple in a research note on Friday, June 5th. Wells Fargo & Company reiterated an “overweight” rating and issued a $310.00 target price (up from $300.00) on shares of Apple in a research note on Friday, May 1st. Citigroup reiterated a “buy” rating on shares of Apple in a research note on Monday, June 1st. Finally, UBS Group restated a “buy” rating on shares of Apple in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $314.59.

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 64,949 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total value of $16,511,984.27. Following the sale, the chief executive officer owned 3,280,418 shares in the company, valued at $833,980,668.14. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Deirdre O’brien sold 30,002 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 136,810 shares in the company, valued at approximately $34,934,433.50. This represents a 17.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 97,759 shares of company stock worth $24,964,305 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $291.13 on Friday. The business’s 50 day moving average price is $285.64 and its 200 day moving average price is $272.27. The firm has a market cap of $4.28 trillion, a P/E ratio of 35.20, a P/E/G ratio of 2.53 and a beta of 1.09. Apple Inc. has a 52 week low of $195.07 and a 52 week high of $317.40. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70.

Apple (NASDAQ:AAPL) last issued its 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. The firm had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.Apple’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.65 earnings per share. On average, sell-side analysts expect that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Increases Dividend

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

About Apple

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.