Apple Inc. $AAPL Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. cut its position in Apple Inc. (NASDAQ:AAPL) by 10.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 400,906 shares of the iPhone maker’s stock after selling 45,850 shares during the period. Apple accounts for 8.2% of Cullinan Associates Inc.’s holdings, making the stock its largest position. Cullinan Associates Inc.’s holdings in Apple were worth $101,746,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Apple in the fourth quarter valued at about $52,266,468,000. Nuveen LLC acquired a new position in Apple during the first quarter worth $17,472,482,000. Cardano Risk Management B.V. boosted its holdings 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 purchasing an additional 37,746,784 shares during the last quarter. Laurel Wealth Advisors LLC grew its position in Apple by 20,464.8% in the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock worth $5,553,753,000 after acquiring an additional 26,937,401 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Apple by 1.9% during 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 purchasing an additional 26,856,752 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Ford said it will embed Apple Maps into upcoming EVs, expanding Apple’s software reach and reinforcing the value of its ecosystem. Ford Embeds Apple Maps Directly into Upcoming EVs
• Positive Sentiment: Baird raised its price target on Apple and reiterated an Outperform rating, adding to bullish analyst momentum. Finviz
• Positive Sentiment: Commentary highlighted Apple as outperforming the broader market, supported by strong ratings and a favorable chart setup ahead of earnings. Why is Apple stock outperforming the broader market?
• Neutral Sentiment: Apple was also the subject of discussion around upcoming product launches, AI features, and a possible device-leasing program, which could support demand but remain unconfirmed or longer-term in nature.
• Negative Sentiment: Some reports noted concerns that Apple’s valuation is stretched heading into earnings, and insider sales plus short-interest chatter may temper enthusiasm if results disappoint.

Insiders Place Their Bets

In related news, insider Ben Borders sold 116 shares of the company’s stock in a transaction that occurred 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 transaction, the insider directly owned 38,713 shares of the company’s stock, valued at $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 currently owned by insiders.

Apple Stock Up 3.5%

Shares of NASDAQ:AAPL opened at $333.02 on Friday. The firm’s 50 day moving average price is $306.62 and its 200 day moving average price is $279.01. The stock has a market cap of $4.89 trillion, a price-to-earnings ratio of 40.27, a price-to-earnings-growth ratio of 2.88 and a beta of 1.10. Apple Inc. has a fifty-two week low of $201.50 and a fifty-two week high of $334.99. 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 (NASDAQ:AAPL) last posted 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 company 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%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.65 EPS. As a group, equities research analysts predict that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were paid a dividend of $0.27 per share. The ex-dividend date 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 (DPR) is presently 13.06%.

Analyst Ratings Changes

A number of brokerages have issued reports on AAPL. Maxim Group reissued a “buy” rating and issued a $350.00 target price (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. Wells Fargo & Company reiterated an “overweight” rating and set a $310.00 price target (up from $300.00) on shares of Apple in a research note on Friday, May 1st. Tigress Financial reissued a “strong-buy” rating and set a $375.00 price target (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. BNP Paribas Exane raised shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price objective for the company in a research note on Friday, April 17th. Finally, Morgan Stanley set a $364.00 price objective on shares of Apple and gave the company an “overweight” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $327.40.

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.