iA Global Asset Management Inc. Cuts Stock Position in Apple Inc. $AAPL

iA Global Asset Management Inc. trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 5.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,296,056 shares of the iPhone maker’s stock after selling 75,177 shares during the period. Apple accounts for approximately 4.7% of iA Global Asset Management Inc.’s holdings, making the stock its 4th largest position. iA Global Asset Management Inc.’s holdings in Apple were worth $328,926,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AAPL. Lifetime Wealth Management P.C. acquired a new position in Apple during the fourth quarter worth $41,000. ROSS JOHNSON & Associates LLC lifted its position in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares during the last quarter. LSV Asset Management acquired a new stake in shares of Apple in the fourth quarter worth about $65,000. Timmons Wealth Management LLC bought a new stake in shares of Apple during the 4th quarter worth about $69,000. Finally, Inspire Investing LLC bought a new stake in shares of Apple during the 4th quarter worth about $76,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on AAPL shares. TD Cowen raised their price objective on Apple from $335.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Morgan Stanley reaffirmed an “overweight” rating on shares of Apple in a research report on Friday, June 26th. Barclays reiterated an “underweight” rating on shares of Apple in a report on Tuesday, June 9th. Monness Crespi & Hardt lifted their price target on shares of Apple from $315.00 to $335.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Oppenheimer restated a “market perform” rating on shares of Apple in a research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $314.85.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s new lawsuit against OpenAI could help protect its hardware roadmap and reinforce its control over proprietary technology, which may support its long-term competitive position. Reuters: Apple sues OpenAI, two former employees for trade secrets theft
• Positive Sentiment: Recent headlines around Apple’s expanded multi-year chip deal with Broadcom continue to boost sentiment, since the agreement strengthens Apple’s supply chain, supports U.S. manufacturing, and deepens its custom silicon strategy. Yahoo Finance: Apple Secures Largest Ever US Chip Deal With Broadcom For $30 Billion
• Neutral Sentiment: Apple was also named among approved U.S. companies eligible for license-free exports under eased UAE trade rules, which is supportive for international operations but not clearly a near-term stock catalyst. Quiver Quant: U.S. eases export controls on UAE
• Neutral Sentiment: Short-interest data showed no meaningful change, suggesting today’s move is being driven more by news flow than by a shift in bearish positioning.
• Negative Sentiment: The OpenAI lawsuit also highlights that Apple’s relationship with a major AI player has soured, adding uncertainty around future AI partnerships and potentially distracting management with litigation. Financial Times: Apple sues OpenAI, alleging it stole top-secret information

Apple Stock Down 0.3%

NASDAQ AAPL opened at $315.32 on Friday. Apple Inc. has a 1-year low of $201.50 and a 1-year high of $317.40. The company has a market capitalization of $4.63 trillion, a price-to-earnings ratio of 38.13, a PEG ratio of 2.75 and a beta of 1.10. The stock’s 50 day moving average is $299.55 and its two-hundred day moving average is $275.26. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. The business 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%.Apple’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the company earned $1.65 EPS. Equities analysts forecast that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, May 11th. This is a boost 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 13.06%.

Insiders Place Their Bets

In other news, 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 value of $421,850.00. Following the sale, the chief financial officer owned 13,366 shares in the company, valued at approximately $3,675,650. The trade was a 10.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ben Borders sold 1,274 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the sale, the insider directly owned 38,713 shares in the company, valued at approximately $11,226,770. The trade was a 3.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 2,924 shares of company stock valued at $825,546. Company insiders own 0.06% of the company’s stock.

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.