Park National Corp OH Buys 4,761 Shares of Apple Inc. $AAPL

Park National Corp OH grew its stake in Apple Inc. (NASDAQ:AAPL) by 1.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 466,121 shares of the iPhone maker’s stock after purchasing an additional 4,761 shares during the period. Apple makes up about 3.6% of Park National Corp OH’s holdings, making the stock its 4th largest holding. Park National Corp OH’s holdings in Apple were worth $118,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Uhlmann Price Securities LLC raised its holdings in shares of Apple by 199.2% during the 1st quarter. Uhlmann Price Securities LLC now owns 43,717 shares of the iPhone maker’s stock worth $11,031,000 after acquiring an additional 29,104 shares during the period. Financial Designs Corp purchased a new stake in shares of Apple in the first quarter valued at about $777,000. ARS Investment Partners LLC grew its holdings in shares of Apple by 5.2% in the first quarter. ARS Investment Partners LLC now owns 334,764 shares of the iPhone maker’s stock valued at $84,960,000 after purchasing an additional 16,531 shares during the period. McClarren Financial Advisors Inc. increased its position in Apple by 115.1% during the first quarter. McClarren Financial Advisors Inc. now owns 20,739 shares of the iPhone maker’s stock worth $5,263,000 after purchasing an additional 11,098 shares during the last quarter. Finally, Lexington Hill Partners LLC increased its position in Apple by 11.7% during the first quarter. Lexington Hill Partners LLC now owns 21,907 shares of the iPhone maker’s stock worth $5,560,000 after purchasing an additional 2,295 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Apple stock opened at $293.05 on Thursday. The company’s 50 day simple moving average is $291.83 and its 200-day simple moving average is $273.15. 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 Inc. has a 1 year low of $199.26 and a 1 year high of $317.40. The company has a market capitalization of $4.30 trillion, a price-to-earnings ratio of 35.44, a price-to-earnings-growth ratio of 2.56 and a beta of 1.09.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. During the same quarter last year, the company posted $1.65 EPS. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, equities research analysts expect that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The company also recently declared 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 is an increase from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, May 11th. Apple’s dividend payout ratio (DPR) is 13.06%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AAPL shares. TD Cowen increased their price target on shares of Apple from $335.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Monness Crespi & Hardt upped their price objective on Apple from $315.00 to $335.00 and gave the company a “buy” rating in a report on Friday, May 1st. KGI Securities lowered Apple from an “outperform” rating to a “hold” rating and set a $315.00 price objective for the company. in a research report on Monday. Maxim Group reissued a “buy” rating and set a $350.00 target price (up from $310.00) on shares of Apple in a research note on Tuesday, June 9th. Finally, Morgan Stanley set a $325.00 target price on Apple in a research report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $314.85.

Key Stories Impacting Apple

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

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 64,949 shares of the business’s stock in a transaction 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 approximately $833,980,668.14. The trade was a 1.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following 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 disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 97,875 shares of company stock valued at $24,998,541. Corporate insiders own 0.06% of the company’s stock.

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.