Cornerstone Financial Management LLC Takes Position in Apple Inc. $AAPL

Cornerstone Financial Management LLC bought a new position in shares of Apple Inc. (NASDAQ:AAPL) in the 4th quarter, Holdings Channel.com reports. The firm bought 7,481 shares of the iPhone maker’s stock, valued at approximately $2,034,000. Apple accounts for approximately 1.9% of Cornerstone Financial Management LLC’s portfolio, making the stock its 13th largest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Apple by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock valued at $387,749,545,000 after buying an additional 26,856,752 shares during the last quarter. State Street Corp boosted its position in shares of Apple by 1.1% during the fourth quarter. State Street Corp now owns 604,056,505 shares of the iPhone maker’s stock worth $164,218,801,000 after acquiring an additional 6,555,392 shares during the last quarter. Geode Capital Management LLC grew its stake in Apple by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker’s stock valued at $97,031,587,000 after acquiring an additional 1,866,103 shares in the last quarter. Morgan Stanley grew its stake in Apple by 0.6% during the fourth quarter. Morgan Stanley now owns 230,483,035 shares of the iPhone maker’s stock valued at $62,659,118,000 after acquiring an additional 1,379,651 shares in the last quarter. Finally, Norges Bank bought a new stake in Apple in the 4th quarter valued at $52,266,468,000. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 30,002 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was 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 directly owned 136,810 shares in the company, valued at $34,934,433.50. This trade represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 1,274 shares of Apple stock in a transaction 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 transaction, the insider directly owned 38,713 shares of the company’s stock, valued at $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. Insiders have sold a total of 97,759 shares of company stock worth $24,964,305 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $291.13 on Monday. The firm’s 50-day moving average price is $285.64 and its 200-day moving average price is $272.25. 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 stock has a market capitalization of $4.28 trillion, a price-to-earnings ratio of 35.20, a P/E/G ratio of 2.53 and a beta of 1.09. Apple Inc. has a 12-month low of $195.07 and a 12-month high of $317.40.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. During the same quarter last year, the business posted $1.65 earnings per share. The firm’s revenue was up 16.6% on a year-over-year basis. On average, equities research analysts anticipate that Apple Inc. will post 8.75 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a $0.27 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 13.06%.

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.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Sanford C. Bernstein reissued an “outperform” rating on shares of Apple in a report on Monday, June 8th. Wedbush reaffirmed an “outperform” rating and issued a $400.00 target price on shares of Apple in a report on Friday, June 5th. Maxim Group reiterated a “buy” rating and issued a $350.00 target price (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. Robert W. Baird set a $310.00 price target on Apple in a research note on Friday, May 1st. Finally, Jefferies Financial Group restated a “hold” rating on shares of Apple in a report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $314.59.

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.