Apple Inc. $AAPL is North Star Investment Management Corp.’s 2nd Largest Position

North Star Investment Management Corp. lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,757 shares of the iPhone maker’s stock after selling 2,912 shares during the quarter. Apple comprises 3.6% of North Star Investment Management Corp.’s portfolio, making the stock its 2nd biggest holding. North Star Investment Management Corp.’s holdings in Apple were worth $59,579,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. 3Chopt Investment Partners LLC boosted its position in shares of Apple by 5.6% during the 1st quarter. 3Chopt Investment Partners LLC now owns 70,587 shares of the iPhone maker’s stock valued at $17,914,000 after acquiring an additional 3,757 shares during the last quarter. Three Magnolias Financial Advisors LLC increased its position in Apple by 17.7% in the first quarter. Three Magnolias Financial Advisors LLC now owns 18,256 shares of the iPhone maker’s stock worth $4,633,000 after purchasing an additional 2,750 shares during the last quarter. Continuum Advisory LLC raised its stake in Apple by 11.3% during the first quarter. Continuum Advisory LLC now owns 164,367 shares of the iPhone maker’s stock valued at $41,715,000 after purchasing an additional 16,713 shares in the last quarter. Asset Allocation Strategies LLC raised its stake in Apple by 13.9% during the first quarter. Asset Allocation Strategies LLC now owns 8,827 shares of the iPhone maker’s stock valued at $2,240,000 after purchasing an additional 1,080 shares in the last quarter. Finally, Detalus Advisors LLC lifted its position in Apple by 13.4% during the first quarter. Detalus Advisors LLC now owns 26,621 shares of the iPhone maker’s stock valued at $6,756,000 after purchasing an additional 3,144 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction on Thursday, April 23rd. The stock was 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 owned 13,366 shares in the company, valued at $3,675,650. The trade was a 10.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ben Borders sold 1,274 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the transaction, the insider directly owned 38,713 shares in the company, valued at $11,226,770. This trade represents a 3.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 2,924 shares of company stock valued at $825,546. 0.06% of the stock is owned by company insiders.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: The Broadcom agreement should improve Apple’s supply chain resiliency, reduce reliance on overseas suppliers, and strengthen its domestic manufacturing story. Apple to increase spend with Broadcom to produce billions more U.S. chips
• Positive Sentiment: Wall Street is also taking the deal as a sign that Apple is investing aggressively in its long-term chip and AI infrastructure, which could support future product launches and margin stability. Apple Announces Broadcom Chip Deal Worth More Than $30 Billion
• Neutral Sentiment: Apple also lost an EU court challenge to the bloc’s Digital Markets Act, leaving its App Store and iOS under tougher antitrust obligations in Europe, but investors appear to be focusing more on the chip deal today. EU court rejects Apple’s challenge against EU rules reining in Big Tech
• Neutral Sentiment: Separately, JPMorgan said recent hardware price increases are unlikely to hurt demand, reinforcing the view that Apple’s pricing power remains intact heading into earnings later this month. Apple price hikes unlikely to hurt demand, JPMorgan says as it raises PT

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Monness Crespi & Hardt boosted their target price on shares of Apple from $315.00 to $335.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Barclays reaffirmed an “underweight” rating on shares of Apple in a report on Tuesday, June 9th. Jefferies Financial Group reiterated a “hold” rating on shares of Apple in a research report on Tuesday, June 9th. Evercore reissued an “outperform” rating on shares of Apple in a research note on Wednesday. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Apple in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $314.85.

Apple Stock Performance

Apple stock opened at $313.39 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The firm has a market capitalization of $4.60 trillion, a P/E ratio of 37.89, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. Apple Inc. has a 1-year low of $201.50 and a 1-year high of $317.40. The company’s 50-day moving average is $297.74 and its 200 day moving average is $274.68.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.06. The business had revenue of $111.18 billion during 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%.The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.65 earnings per share. Research analysts forecast that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

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