Fifth Third Bancorp Has $2.33 Billion Position in Apple Inc. $AAPL

Fifth Third Bancorp grew its stake in shares of Apple Inc. (NASDAQ:AAPL) by 53.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,161,758 shares of the iPhone maker’s stock after purchasing an additional 3,187,022 shares during the quarter. Apple comprises about 4.3% of Fifth Third Bancorp’s portfolio, making the stock its 2nd biggest holding. Fifth Third Bancorp’s holdings in Apple were worth $2,325,162,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Glass Wealth Management Co LLC grew its stake in shares of Apple by 3.9% in the first quarter. Glass Wealth Management Co LLC now owns 44,404 shares of the iPhone maker’s stock valued at $11,269,000 after buying an additional 1,647 shares in the last quarter. Sovran Advisors LLC lifted its stake in Apple by 11.1% in the first quarter. Sovran Advisors LLC now owns 114,881 shares of the iPhone maker’s stock valued at $31,173,000 after acquiring an additional 11,492 shares during the last quarter. Signature Resources Capital Management LLC grew its position in shares of Apple by 5.0% in the 1st quarter. Signature Resources Capital Management LLC now owns 3,538 shares of the iPhone maker’s stock valued at $898,000 after acquiring an additional 167 shares during the period. S. R. Schill & Associates increased its stake in shares of Apple by 44.1% during the 1st quarter. S. R. Schill & Associates now owns 1,151 shares of the iPhone maker’s stock worth $292,000 after purchasing an additional 352 shares during the last quarter. Finally, Summit Financial Strategies Inc. raised its holdings in shares of Apple by 1.8% in the 1st quarter. Summit Financial Strategies Inc. now owns 70,124 shares of the iPhone maker’s stock valued at $17,797,000 after purchasing an additional 1,212 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Up 3.5%

Apple stock opened at $333.02 on Friday. The stock has a market cap of $4.89 trillion, a P/E ratio of 40.27, a P/E/G ratio of 2.88 and a beta of 1.10. 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 Inc. has a twelve month low of $201.50 and a twelve month high of $334.99. The company’s 50-day moving average price is $306.62 and its two-hundred day moving average price is $279.01.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 146.69% and a net margin of 27.15%.The business’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.65 earnings per share. As a group, analysts expect that Apple Inc. will post 8.76 EPS for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a dividend of $0.27 per share. This is an increase from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. Apple’s payout ratio is 13.06%.

Analysts Set New Price Targets

AAPL has been the subject of several recent analyst reports. Evercore reiterated an “outperform” rating on shares of Apple in a research note on Wednesday, July 8th. Tigress Financial restated a “strong-buy” rating and issued a $375.00 price objective (up from $305.00) on shares of Apple in a research note on Thursday, May 14th. Needham & Company LLC restated a “hold” rating on shares of Apple in a research note on Tuesday, June 9th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $276.00 price objective on shares of Apple in a research report on Tuesday, June 9th. Finally, TD Cowen lifted their target price on Apple from $335.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $327.40.

Insider Buying and Selling at Apple

In other news, insider Ben Borders sold 116 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were 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 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 SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.06% of the company’s stock.

Key Headlines Impacting Apple

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.

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.