Apple Inc. $AAPL Position Trimmed by AdvisorNet Financial Inc

AdvisorNet Financial Inc decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 118,039 shares of the iPhone maker’s stock after selling 1,872 shares during the period. Apple accounts for 1.6% of AdvisorNet Financial Inc’s portfolio, making the stock its 8th largest position. AdvisorNet Financial Inc’s holdings in Apple were worth $29,957,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Lifetime Wealth Management P.C. bought a new stake in Apple in the fourth quarter worth $41,000. ROSS JOHNSON & Associates LLC increased its holdings in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares in the last quarter. Timmons Wealth Management LLC bought a new position in shares of Apple during the fourth quarter valued at $69,000. LSV Asset Management purchased a new position in shares of Apple in the 4th quarter worth about $65,000. Finally, Inspire Investing LLC purchased a new position in shares of Apple in the 4th quarter worth about $76,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AAPL has been the topic of several recent analyst reports. Morgan Stanley reissued an “overweight” rating on shares of Apple in a research report on Friday. DA Davidson reaffirmed a “neutral” rating and issued a $270.00 target price on shares of Apple in a report on Friday, May 1st. BNP Paribas Exane upgraded shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 target price on the stock in a research note on Friday, April 17th. Monness Crespi & Hardt increased their price target on shares of Apple from $315.00 to $335.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, KeyCorp restated a “sector weight” rating on shares of Apple in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $314.85.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $284.29 on Friday. Apple Inc. has a fifty-two week low of $199.26 and a fifty-two week high of $317.40. The business has a 50-day simple moving average of $292.51 and a two-hundred day simple moving average of $273.20. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The firm has a market cap of $4.18 trillion, a price-to-earnings ratio of 34.38, a price-to-earnings-growth ratio of 2.47 and a beta of 1.09.

Apple (NASDAQ:AAPL) last announced its quarterly 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. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. During the same quarter last year, the firm posted $1.65 EPS. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, analysts expect that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. This is a positive change from Apple’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. Apple’s payout ratio is currently 13.06%.

Insider Activity at Apple

In other Apple news, insider Ben Borders sold 116 shares of Apple stock in a transaction that occurred on 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 position. The transaction was disclosed in a document filed with the SEC, 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 business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction 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. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 97,875 shares of company stock worth $24,998,541. Company insiders own 0.06% of the company’s stock.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Some analysts and traders see the recent decline as overdone, arguing that Apple’s pullback has created an attractive entry point and that the stock is oversold at support. Stock Of The Day: Is The Apple Sell-Off Over?
• Positive Sentiment: Morgan Stanley reiterated a Buy rating on AAPL, saying Apple’s pricing and margin-defense strategy supports upside and leaving its $360 target unchanged. Apple Buy Rating Reiterated as Margin Defense Strategy Supports Upside; $360 Price Target Unchanged
• Neutral Sentiment: Wall Street remains divided on the broader implications of Apple’s recent price hikes, with some analysts saying the company can pass through costs thanks to its loyal customer base, while others warn the iPhone will be the real test. Apple Can Get Away With Mac Price Hikes, but iPhone Is the Real Test
• Negative Sentiment: Apple raised prices on several Mac and iPad models because surging memory and storage chip costs tied to AI demand are squeezing margins, raising concerns that higher prices could hurt demand and signal more pressure ahead. Apple raises prices of MacBooks, iPads as memory costs skyrocket
• Negative Sentiment: Apple also lost a key Vision Pro hardware executive to OpenAI, adding to investor concern about execution in its spatial-computing and AI efforts. Apple (AAPL) Loses Key Vision Pro Hardware Chief to OpenAI in Major Talent Blow

Apple 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.