Banyan Capital Management Inc. Sells 2,067 Shares of Apple Inc. $AAPL

Banyan Capital Management Inc. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 4.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 41,631 shares of the iPhone maker’s stock after selling 2,067 shares during the period. Apple accounts for about 4.6% of Banyan Capital Management Inc.’s investment portfolio, making the stock its 8th biggest holding. Banyan Capital Management Inc.’s holdings in Apple were worth $10,566,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AAPL. Reyes Financial Architecture Inc. increased its holdings in shares of Apple by 0.4% in the 3rd quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock valued at $2,520,000 after purchasing an additional 37 shares in the last quarter. WESPAC Advisors LLC boosted its holdings in Apple by 0.3% during the fourth quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker’s stock worth $3,351,000 after buying an additional 39 shares in the last quarter. Interactive Financial Advisors Inc. boosted its holdings in Apple by 4.0% during the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock worth $286,000 after buying an additional 40 shares in the last quarter. Sugar Maple Asset Management LLC grew its position in Apple by 2.0% during the first quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker’s stock worth $515,000 after buying an additional 40 shares during the period. Finally, Orion Investment Co grew its position in Apple by 0.3% during the fourth quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker’s stock worth $3,902,000 after buying an additional 41 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial set a $380.00 price target on shares of Apple in a research report on Monday, July 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research note on Tuesday, June 9th. Wedbush reaffirmed an “outperform” rating and set a $400.00 price objective on shares of Apple in a report on Friday, June 5th. Robert W. Baird boosted their target price on Apple from $310.00 to $330.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Tigress Financial reissued a “strong-buy” rating and issued a $375.00 target price (up from $305.00) on shares of Apple in a report on Thursday, May 14th. One 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 assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $327.40.

Apple Trading Up 3.5%

Shares of AAPL opened at $333.02 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. Apple Inc. has a 1-year low of $201.50 and a 1-year high of $334.99. 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. The firm has a 50 day simple moving average of $306.62 and a 200-day simple moving average of $279.01.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The firm had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.Apple’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.65 EPS. Equities analysts forecast that Apple Inc. will post 8.76 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a $0.27 dividend. 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 0.3%. The ex-dividend date was Monday, May 11th. Apple’s dividend payout ratio (DPR) is currently 13.06%.

Apple News Roundup

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.

Insider Activity

In related news, insider Ben Borders sold 116 shares of the stock in a transaction on 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 owned 38,713 shares of the company’s stock, valued at $11,425,754.82. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is owned by corporate insiders.

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.