New World Advisors LLC Cuts Stock Position in Apple Inc. $AAPL

New World Advisors LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 7.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 32,838 shares of the iPhone maker’s stock after selling 2,666 shares during the period. Apple comprises about 1.5% of New World Advisors LLC’s holdings, making the stock its 3rd largest holding. New World Advisors LLC’s holdings in Apple were worth $8,334,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Overbrook Management Corp boosted its holdings in Apple by 57.4% in the fourth quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock worth $28,449,000 after acquiring an additional 38,174 shares in the last quarter. Rainier Family Wealth Inc. boosted its stake in Apple by 14.1% in the 1st quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker’s stock worth $6,189,000 after purchasing an additional 3,014 shares in the last quarter. Torren Management LLC bought a new position in Apple in the 4th quarter worth about $1,178,000. Summit Wealth Partners LLC grew its position in Apple by 108.3% during the 1st quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker’s stock valued at $8,880,000 after purchasing an additional 18,188 shares during the last quarter. Finally, Adventist Health System Sunbelt Healthcare Corp purchased a new stake in Apple during the 4th quarter valued at about $105,482,000. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of several recent analyst reports. Evercore reaffirmed an “outperform” rating on shares of Apple in a report on Wednesday, July 8th. BNP Paribas Exane raised shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price target for the company in a research report on Friday, April 17th. Sanford C. Bernstein restated an “outperform” rating on shares of Apple in a report on Monday, June 8th. Citigroup reiterated a “buy” rating and set a $365.00 target price (up from $315.00) on shares of Apple in a research note on Monday. Finally, KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $250.00 target price for the company. in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $313.11.

Apple Price Performance

Shares of Apple stock opened at $314.86 on Wednesday. Apple Inc. has a one year low of $201.50 and a one year high of $323.45. The stock’s fifty day moving average is $301.09 and its 200 day moving average is $275.89. The stock has a market cap of $4.62 trillion, a P/E ratio of 38.07, a P/E/G ratio of 2.76 and a beta of 1.10. 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 (NASDAQ:AAPL) last released its quarterly 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%.Apple’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.65 earnings per share. Sell-side analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given 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 was Monday, May 11th. This is an increase from Apple’s previous quarterly dividend of $0.26. Apple’s payout ratio is presently 13.06%.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Citi raised its price target on Apple to $365 and kept a Buy rating, arguing the company can keep gaining market share and may benefit from premium iPhone pricing and Apple Intelligence upside. Article Title
• Positive Sentiment: Apple continues to show strong smartphone performance, including record Q2 market share in China and reports that it has outperformed the broader smartphone slump, which supports the case for resilient demand. Article Title
• Positive Sentiment: Investors are also focusing on potential future catalysts such as a possible iPhone price increase and new product cycles, including foldable iPhone plans and AI-focused chip development. Article Title
• Neutral Sentiment: Apple’s lawsuit against OpenAI is keeping the stock in the headlines; it could protect Apple’s intellectual property and slow a competitor’s hardware push, but it also adds legal uncertainty. Article Title
• Neutral Sentiment: Broadcom’s multiyear chip agreement was described as strategically positive for Apple’s AI silicon efforts, but it is more of a longer-term support story than a direct near-term stock mover. Article Title
• Negative Sentiment: KeyBanc’s downgrade and related bearish commentary from other firms are the clearest reasons Apple stock is lower, with analysts warning that slowing iPhone upgrades and softer Services growth could limit further upside. Article Title

Insider Buying and Selling

In related news, insider Ben Borders sold 1,274 shares of the business’s stock in a transaction that occurred on 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 directly owned 38,713 shares in the company, valued at approximately $11,226,770. The trade was a 3.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevan Parekh sold 1,534 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer owned 13,366 shares in the company, valued at approximately $3,675,650. The trade was a 10.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 2,924 shares of company stock valued at $825,546. 0.06% of the stock is currently owned by corporate insiders.

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.