First United Bank & Trust Sells 2,242 Shares of Apple Inc. $AAPL

First United Bank & Trust reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 6.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,869 shares of the iPhone maker’s stock after selling 2,242 shares during the quarter. Apple makes up 2.8% of First United Bank & Trust’s portfolio, making the stock its 8th biggest holding. First United Bank & Trust’s holdings in Apple were worth $8,596,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Lifetime Wealth Management P.C. acquired a new position in Apple during the fourth quarter worth approximately $41,000. ROSS JOHNSON & Associates LLC grew its holdings in shares of 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 purchasing an additional 180 shares during the period. Timmons Wealth Management LLC purchased a new stake in shares of Apple during the 4th quarter worth about $69,000. LSV Asset Management purchased a new position in Apple in the fourth quarter valued at approximately $65,000. Finally, Inspire Investing LLC acquired a new position in Apple during the fourth quarter valued at approximately $76,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Ben Borders sold 116 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares in the company, valued at $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the transaction, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,924 shares of company stock valued at $825,546 over the last 90 days. 0.06% of the stock is currently owned by insiders.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Reports that Apple plans at least five new iPhone models through early 2027, including a stronger foldable iPhone push, have reinforced expectations for a fresh product cycle and a longer growth runway. Apple plans five new iPhones through 2027, eyes Chinese-made chips amid foldable push, reports say
• Positive Sentiment: Apple also appears to be benefiting from investor optimism that it can navigate the memory-chip shortage and secure supply, including possible deals with lower-cost Chinese chipmakers, which could help protect future production. Apple negotiates with blacklisted Chinese chipmakers amid AI-driven memory crunch
• Positive Sentiment: Several market commentary pieces said Apple is holding up better than the broader tech sector, with traders viewing recent weakness as a buying opportunity and analysts still pointing to solid upside potential. Apple’s Aggressive Price Hikes Raise Eyebrows As Wall Street Links AI Chip Shortages To Inflation Pressure
• Neutral Sentiment: Apple’s recent price hikes on Macs and iPads are being interpreted two ways: as a sign of inflationary component costs, but also as a margin-protection move that may not hurt demand as much as feared. Jim Cramer’s Latest Thought on Apple Inc. (AAPL)
• Neutral Sentiment: Apple’s insider-selling activity and mixed institutional positioning are adding caution, but they are not the main driver of the stock today. Apple Stock (AAPL) Opinions on Recent Price Hikes and Analyst Views
• Negative Sentiment: Some coverage continues to flag pressure on Apple’s margins and demand if higher component costs force more price increases, which could weigh on sentiment over time. Is Apple stock in trouble? Rising costs threaten margins, demand

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AAPL shares. Jefferies Financial Group reissued a “hold” rating on shares of Apple in a research report on Tuesday, June 9th. TD Cowen increased their price objective on shares of Apple from $335.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $276.00 target price on shares of Apple in a research report on Tuesday, June 9th. Wedbush restated an “outperform” rating and issued a $400.00 target price on shares of Apple in a research note on Friday, June 5th. Finally, Maxim Group reissued a “buy” rating and set a $350.00 price target (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. One research 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $314.85.

Apple Price Performance

Shares of Apple stock opened at $308.63 on Friday. The business’s fifty day moving average price is $295.25 and its two-hundred day moving average price is $273.85. 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 company has a market capitalization of $4.53 trillion, a P/E ratio of 37.32, a PEG ratio of 2.68 and a beta of 1.10. Apple Inc. has a 1-year low of $201.50 and a 1-year high of $317.40.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The business had revenue of $111.18 billion for the quarter, compared to analysts’ expectations of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.65 earnings per share. As a group, research analysts forecast 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. Investors of record on Monday, May 11th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.3%. Apple’s dividend payout ratio is presently 13.06%.

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.