Bayban Acquires 2,596 Shares of Apple Inc. $AAPL

Bayban lifted its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 14.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,993 shares of the iPhone maker’s stock after purchasing an additional 2,596 shares during the period. Apple comprises approximately 4.4% of Bayban’s holdings, making the stock its 4th biggest holding. Bayban’s holdings in Apple were worth $5,074,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. First National Bank of Hutchinson grew its holdings in shares of Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after buying an additional 6,982 shares in the last quarter. Eagle Capital Management LLC lifted its stake in shares of Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after purchasing an additional 272 shares during the period. Brighton Jones LLC lifted its position in Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after buying an additional 69,207 shares during the period. Revolve Wealth Partners LLC lifted its position in Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after buying an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE boosted its stake in Apple by 2.4% in the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after buying an additional 1,155 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Down 0.3%

NASDAQ:AAPL traded down $0.90 during trading hours on Friday, hitting $315.32. The stock had a trading volume of 34,104,441 shares, compared to its average volume of 60,736,044. 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 Inc. has a 1-year low of $201.50 and a 1-year high of $317.40. The business has a 50 day simple moving average of $299.55 and a two-hundred day simple moving average of $275.26. The company has a market cap of $4.63 trillion, a PE ratio of 38.13, a price-to-earnings-growth ratio of 2.74 and a beta of 1.10.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. The business had revenue of $111.18 billion for the quarter, compared to analysts’ expectations of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 earnings per share. Analysts predict that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on AAPL shares. KGI Securities lowered shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 price target on the stock. in a report on Monday, June 22nd. Rosenblatt Securities reiterated a “neutral” rating and set a $276.00 target price on shares of Apple in a report on Tuesday, June 9th. Barclays restated an “underweight” rating on shares of Apple in a report on Tuesday, June 9th. BNP Paribas Exane raised shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price target on the stock in a research report on Friday, April 17th. Finally, Needham & Company LLC reiterated a “hold” 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 assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $314.85.

Insider Activity at Apple

In other Apple news, insider Ben Borders sold 116 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the transaction, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. This represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 firm’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the transaction, the chief financial officer directly 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. Insiders have sold a total of 2,924 shares of company stock worth $825,546 over the last 90 days. 0.06% of the stock is owned by company insiders.

Apple News Roundup

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 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.