BI Asset Management Fondsmaeglerselskab A S Sells 213,037 Shares of Apple Inc. $AAPL

BI Asset Management Fondsmaeglerselskab A S decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 9.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,086,741 shares of the iPhone maker’s stock after selling 213,037 shares during the period. Apple comprises 5.5% of BI Asset Management Fondsmaeglerselskab A S’s portfolio, making the stock its 3rd biggest position. BI Asset Management Fondsmaeglerselskab A S’s holdings in Apple were worth $522,932,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of AAPL. Lifetime Wealth Management P.C. bought a new position in shares of Apple in the fourth quarter valued at about $41,000. ROSS JOHNSON & Associates LLC grew its holdings in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares during the last quarter. Timmons Wealth Management LLC acquired a new stake in Apple in the 4th quarter valued at about $69,000. LSV Asset Management acquired a new stake in Apple in the 4th quarter valued at about $65,000. Finally, Inspire Investing LLC bought a new position in shares of Apple in the fourth quarter worth about $76,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AAPL shares. Wedbush reiterated an “outperform” rating and set a $400.00 target price on shares of Apple in a research report on Friday, June 5th. Moffett Nathanson boosted their price objective on shares of Apple from $241.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. KGI Securities cut Apple from an “outperform” rating to a “hold” rating and set a $315.00 price target on the stock. in a report on Monday. Maxim Group reiterated a “buy” rating and issued a $350.00 price objective (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $310.00 price objective (up from $300.00) on shares of Apple in a report on Friday, May 1st. One 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 issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.85.

Apple Stock Down 0.4%

Shares of Apple stock opened at $293.05 on Thursday. The business has a fifty day simple moving average of $291.83 and a 200 day simple moving average of $273.15. The stock has a market cap of $4.30 trillion, a PE ratio of 35.44, a price-to-earnings-growth ratio of 2.56 and a beta of 1.09. 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 Inc. has a 12 month low of $199.26 and a 12 month high of $317.40.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating the consensus estimate 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%.The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.65 earnings per share. Research analysts predict that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

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

Insider Activity

In other news, insider Ben Borders sold 1,274 shares of Apple 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 transaction, the insider owned 38,713 shares in the company, valued at $11,226,770. The trade was a 3.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the transaction, the chief financial officer owned 13,366 shares of the company’s stock, valued at $3,675,650. This represents a 10.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 97,875 shares of company stock valued at $24,998,541. 0.06% of the stock is owned by company insiders.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s new Siri and broader AI reset is being viewed positively by analysts, with BofA reiterating a Buy rating and saying the WWDC update could strengthen Apple’s AI position and support the stock. BofA Says Apple’s (AAPL) New Siri Strategy Could Strengthen its AI Position
• Positive Sentiment: Apple’s reported chip partnership with Intel is being framed as strategically important, with investors focused on supply-chain diversification and a longer-term domestic chip roadmap that could benefit future product cycles. Apple-Intel chip deal makes strategic sense but production is years away
• Positive Sentiment: Several market commentaries say Apple shares are building toward a possible breakout, with the stock staying close to its all-time high and forming a fresh buy zone as momentum improves. Apple Stock Polishing New Buy Zone With All-Time High In Sight
• Neutral Sentiment: Apple is also drawing attention for comments from Eddy Cue about expanding entertainment offerings on Apple TV and in theaters, which supports the long-term services story but is not an immediate earnings catalyst. Apple aims for better and more entertainment offerings, executive Cue says
• Negative Sentiment: Investors are still weighing headwinds from rising memory costs and the possibility of iPhone price increases, which could pressure demand if Apple passes through higher component prices. Apple Price Hike Fears May Be Overblown, Says J.P. Morgan
• Negative Sentiment: Apple also faces legal overhang after a UK tribunal allowed a $4 billion iCloud class-action lawsuit to proceed, adding another potential regulatory and financial risk. Apple supplier Lingyi iTech prices $1.06 billion Hong Kong IPO to tap AI demand

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.