Penobscot Wealth Management Purchases 11,526 Shares of Apple Inc. $AAPL

Penobscot Wealth Management boosted its position in shares of Apple Inc. (NASDAQ:AAPL) by 100.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,057 shares of the iPhone maker’s stock after purchasing an additional 11,526 shares during the period. Apple makes up 1.8% of Penobscot Wealth Management’s portfolio, making the stock its 10th biggest position. Penobscot Wealth Management’s holdings in Apple were worth $6,060,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lifetime Wealth Management P.C. purchased a new stake in Apple during the 4th quarter worth approximately $41,000. ROSS JOHNSON & Associates LLC boosted its stake in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 180 shares during the last quarter. Timmons Wealth Management LLC acquired a new stake in shares of Apple during the fourth quarter worth approximately $69,000. LSV Asset Management acquired a new stake in shares of Apple during the fourth quarter worth approximately $65,000. Finally, Inspire Investing LLC bought a new stake in shares of Apple in the fourth quarter worth $76,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Activity

In related news, insider Ben Borders sold 116 shares of the stock in a transaction dated Tuesday, June 16th. The shares were 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 in the company, valued at $11,425,754.82. This 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 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 Apple stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the transaction, the chief financial officer owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 2,924 shares of company stock worth $825,546. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

AAPL has been the topic of several recent analyst reports. Maxim Group reaffirmed a “buy” rating and issued a $350.00 price target (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. KeyCorp reissued a “sector weight” rating on shares of Apple in a report on Tuesday, June 9th. 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. Wedbush reaffirmed an “outperform” rating and set a $400.00 price target on shares of Apple in a research report on Friday, June 5th. Finally, DA Davidson reiterated a “neutral” rating and issued a $270.00 price target on shares of Apple in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $314.85.

Apple Stock Performance

Apple stock opened at $308.63 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 12 month low of $201.50 and a 12 month high of $317.40. The company has a fifty day moving average price of $294.54 and a two-hundred day moving average price of $273.60. The company has a market cap of $4.53 trillion, a PE ratio of 37.32, a P/E/G ratio of 2.56 and a beta of 1.10.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping 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 company had revenue of $111.18 billion for the quarter, compared to analysts’ expectations of $109.46 billion. During the same period in the prior year, the company earned $1.65 earnings per share. The firm’s revenue was up 16.6% compared to the same quarter last year. Research analysts expect that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The firm 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. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Apple’s previous quarterly dividend of $0.26. Apple’s payout ratio is currently 13.06%.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is reportedly planning at least five new iPhone models through early 2027, including a bigger push into foldables, which could refresh demand and support a stronger upgrade cycle. Apple plans five new iPhones through 2027, eyes Chinese-made chips amid foldable push, reports say
• Positive Sentiment: Several reports say Apple’s stock is rebounding after last week’s selloff, with investors viewing recent price hikes as a way to defend margins rather than a sign of weakening demand. Apple’s Aggressive Price Hikes Raise Eyebrows As Wall Street Links AI Chip Shortages To Inflation Pressure— Ryan Detrick Says ‘This is the Real World Stuff’
• Positive Sentiment: Wall Street commentary remained constructive, with some analysts and strategists pointing to Apple’s AI roadmap, App Store/services growth, and long-term product pipeline as reasons to stay bullish on AAPL. What’s Going on With Apple Stock Thursday?
• Neutral Sentiment: Market rotation matters too: Apple is outperforming a weak tech tape, so some of the stock’s strength may reflect investors rotating into higher-quality mega-cap names rather than a company-specific catalyst alone. Dow Jones Futures: Dow Hits High But AI Tumbles; Apple, Robinhood Are Buys As Tesla, Sandisk Dive
• Negative Sentiment: The main overhang is margin pressure from surging memory and component costs, which has already forced Apple to raise prices on Macs and iPads and could squeeze profitability if costs stay elevated. Is Apple stock in trouble? Rising costs threaten margins, demand
• Negative Sentiment: Investors are also watching reports that Apple may source memory chips from blacklisted Chinese suppliers, a move that highlights the seriousness of the supply shortage and adds geopolitical risk. Russia warns Apple of $52 million fine over alleged bias against local apps

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.