First Horizon Corp Buys 24,637 Shares of Apple Inc. $AAPL

First Horizon Corp grew its position in Apple Inc. (NASDAQ:AAPL) by 9.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 273,381 shares of the iPhone maker’s stock after acquiring an additional 24,637 shares during the quarter. Apple comprises about 2.9% of First Horizon Corp’s holdings, making the stock its 2nd largest position. First Horizon Corp’s holdings in Apple were worth $69,381,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Apple in the fourth quarter valued at approximately $52,266,468,000. Nuveen LLC purchased a new position in Apple in the 1st quarter valued at $17,472,482,000. Cardano Risk Management B.V. increased its stake in Apple by 890.7% in the 4th quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker’s stock valued at $11,413,990,000 after buying an additional 37,746,784 shares during the period. Laurel Wealth Advisors LLC raised its position in Apple by 20,464.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock worth $5,553,753,000 after buying an additional 26,937,401 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Apple by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock worth $387,749,545,000 after acquiring an additional 26,856,752 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Transactions at Apple

In other news, insider Ben Borders sold 116 shares of Apple 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 sale, the insider directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $321.66 on Friday. 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 firm has a market cap of $4.72 trillion, a PE ratio of 38.89, a P/E/G ratio of 2.81 and a beta of 1.10. The firm has a 50 day simple moving average of $305.96 and a 200-day simple moving average of $278.63. Apple Inc. has a 1-year low of $201.50 and a 1-year high of $334.99.

Apple (NASDAQ:AAPL) last issued 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. The firm had revenue of $111.18 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.65 earnings per share. On average, equities analysts expect that Apple Inc. will post 8.76 EPS for the current year.

Apple Increases Dividend

The company also recently declared 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. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. 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. Apple’s dividend payout ratio (DPR) is 13.06%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AAPL. Evercore restated an “outperform” rating on shares of Apple in a research report on Wednesday, July 8th. Rosenblatt Securities reissued a “neutral” rating and issued a $276.00 price target on shares of Apple in a report on Tuesday, June 9th. TD Cowen lifted their price target on Apple from $335.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Robert W. Baird set a $310.00 price objective on Apple in a report on Friday, May 1st. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $326.83.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Ford will integrate Apple Maps and Apple software into upcoming lower-cost EVs and self-driving features, expanding Apple’s automotive footprint and creating another potential platform for its services ecosystem. Ford Will Use Apple Software in New Self-Driving System
• Positive Sentiment: Reports that Apple is preparing a smarter shopping assistant for the App Store and testing a more AI-driven buying experience suggest new ways to improve commerce, engagement, and monetization across its ecosystem. Apple Tests Smarter Shopping Experience
• Positive Sentiment: Wall Street sentiment remains constructive in places, with Morgan Stanley reportedly raising its Apple target and several pieces arguing Apple could be an underappreciated AI beneficiary as it readies new Macs, iMacs, and other hardware built for AI demand. Apple Plans To Overhaul Computers to Meet AI Demand
• Neutral Sentiment: Samsung’s new foldables and the broader “AI hardware” race are keeping Apple in the spotlight, but the news is mostly competitive context rather than a direct near-term catalyst.
• Negative Sentiment: Apple lost a key court bid, leaving a $634 million Apple Watch blood-oxygen patent verdict in place, which keeps legal overhangs alive and could raise investor concern about additional costs or product restrictions. Apple Fails to Overturn $634 Million Masimo Verdict
• Negative Sentiment: Multiple market notes point to Apple’s valuation being rich and the stock being vulnerable to volatility into earnings, with some analysts warning that momentum may be peaking after a strong run.

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.