IFM Investors Pty Ltd Acquires 98,016 Shares of Apple Inc. $AAPL

IFM Investors Pty Ltd increased its holdings in Apple Inc. (NASDAQ:AAPL) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,022,506 shares of the iPhone maker’s stock after acquiring an additional 98,016 shares during the period. Apple comprises about 6.4% of IFM Investors Pty Ltd’s holdings, making the stock its 2nd largest holding. IFM Investors Pty Ltd’s holdings in Apple were worth $767,082,000 at the end of the most recent quarter.

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

Insider Transactions at Apple

In related news, insider Ben Borders sold 116 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the transaction, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 the 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 sale, the chief financial officer owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. The trade was a 10.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 2,924 shares of company stock valued at $825,546 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Apple stock traded down $0.90 during trading hours on Friday, reaching $315.32. 34,104,441 shares of the company were exchanged, compared to its average volume of 60,736,044. Apple Inc. has a 12 month low of $201.50 and a 12 month high of $317.40. 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 50-day moving average of $299.55 and a 200 day moving average of $275.26. The firm has a market cap of $4.63 trillion, a price-to-earnings ratio of 38.13, a PEG ratio of 2.74 and a beta of 1.10.

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, topping analysts’ consensus estimates of $1.95 by $0.06. The business had revenue of $111.18 billion during 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%. Apple’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.65 earnings per share. As a group, research analysts anticipate 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. Shareholders of record on Monday, May 11th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. This is a positive change from Apple’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. Apple’s dividend payout ratio is currently 13.06%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AAPL shares. Jefferies Financial Group reaffirmed a “hold” rating on shares of Apple in a research note on Tuesday, June 9th. Rosenblatt Securities reiterated a “neutral” rating and set a $276.00 price target on shares of Apple in a report on Tuesday, June 9th. TD Cowen increased their price target on shares of Apple from $335.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. UBS Group restated a “buy” rating on shares of Apple in a report on Tuesday, June 9th. Finally, Bank of America reaffirmed a “buy” rating and issued a $380.00 price objective on shares of Apple in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $314.85.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s new lawsuit against OpenAI could help protect its hardware roadmap and reinforce its control over proprietary technology, which may support its long-term competitive position. Reuters: Apple sues OpenAI, two former employees for trade secrets theft
• Positive Sentiment: Recent headlines around Apple’s expanded multi-year chip deal with Broadcom continue to boost sentiment, since the agreement strengthens Apple’s supply chain, supports U.S. manufacturing, and deepens its custom silicon strategy. Yahoo Finance: Apple Secures Largest Ever US Chip Deal With Broadcom For $30 Billion
• Neutral Sentiment: Apple was also named among approved U.S. companies eligible for license-free exports under eased UAE trade rules, which is supportive for international operations but not clearly a near-term stock catalyst. Quiver Quant: U.S. eases export controls on UAE
• Neutral Sentiment: Short-interest data showed no meaningful change, suggesting today’s move is being driven more by news flow than by a shift in bearish positioning.
• Negative Sentiment: The OpenAI lawsuit also highlights that Apple’s relationship with a major AI player has soured, adding uncertainty around future AI partnerships and potentially distracting management with litigation. Financial Times: Apple sues OpenAI, alleging it stole top-secret information

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.