Formidable Asset Management LLC Has $49.07 Million Stock Position in Apple Inc. $AAPL

Formidable Asset Management LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 7.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 180,502 shares of the iPhone maker’s stock after selling 15,589 shares during the quarter. Apple accounts for approximately 7.7% of Formidable Asset Management LLC’s holdings, making the stock its biggest position. Formidable Asset Management LLC’s holdings in Apple were worth $49,071,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in Apple in the fourth quarter worth approximately $52,266,468,000. Nuveen LLC purchased a new stake in Apple during the 1st quarter valued at $17,472,482,000. Cardano Risk Management B.V. raised its stake in Apple by 890.7% during 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 buying an additional 37,746,784 shares during the last quarter. Laurel Wealth Advisors LLC lifted its holdings in shares of Apple by 20,464.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock valued at $5,553,753,000 after buying an additional 26,937,401 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Apple by 1.9% in 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 buying an additional 26,856,752 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: J.P. Morgan reportedly raised its price target on Apple, reinforcing bullish expectations heading into fiscal Q3 earnings and signaling confidence in Apple’s growth and margins. J.P. Morgan Lifts Apple Stock (AAPL) Price Target Ahead of Q3 Earnings
• Positive Sentiment: Apple’s extended chip partnership with Broadcom through 2031 strengthens its AI and connectivity supply chain, improving visibility for future products and supporting sentiment around Apple’s long-term execution. Broadcom, Apple extend chip partnership through 2031
• Positive Sentiment: Several reports say investors are warming to Apple’s “cheap AI” strategy, with attention shifting to Macs, Siri, and other ecosystem features rather than just the iPhone, which could create new upside drivers. Why Investors Fell Back In Love With Apple’s Cheap AI Strategy
• Positive Sentiment: Analysts said Apple should be able to weather hardware price increases because demand remains resilient, suggesting consumers may be less price-sensitive than feared. Apple Sales Seen Weathering Hardware Price Increases

Analysts Set New Price Targets

Several brokerages recently commented on AAPL. KGI Securities lowered Apple from an “outperform” rating to a “hold” rating and set a $315.00 price objective for the company. in a report on Monday, June 22nd. Rosenblatt Securities reissued a “neutral” rating and issued a $276.00 target price on shares of Apple in a research report on Tuesday, June 9th. Wells Fargo & Company restated 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. DA Davidson reaffirmed a “neutral” rating and set a $270.00 price target on shares of Apple in a research report on Friday, May 1st. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Apple in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $314.85.

Insiders Place Their Bets

In other Apple news, insider Ben Borders sold 116 shares of the firm’s stock in a transaction dated 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 directly 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 through the SEC website. 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 dated 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 in the company, valued at $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 2,924 shares of company stock valued at $825,546. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Down 0.6%

NASDAQ AAPL opened at $310.66 on Wednesday. Apple Inc. has a 52 week low of $201.50 and a 52 week high of $317.40. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $4.56 trillion, a P/E ratio of 37.56, a price-to-earnings-growth ratio of 2.72 and a beta of 1.10. The stock’s 50-day moving average price is $296.83 and its 200-day moving average price is $274.38.

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

Apple Increases Dividend

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

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.