CHICAGO TRUST Co NA Reduces Position in Apple Inc. $AAPL

CHICAGO TRUST Co NA cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.0% during the 1st quarter, Holdings Channel reports. The firm owned 118,687 shares of the iPhone maker’s stock after selling 4,883 shares during the period. Apple comprises 4.8% of CHICAGO TRUST Co NA’s investment portfolio, making the stock its largest position. CHICAGO TRUST Co NA’s holdings in Apple were worth $30,122,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AAPL. Cassia Capital Partners LLC lifted its holdings in shares of Apple by 6.3% in the first quarter. Cassia Capital Partners LLC now owns 11,122 shares of the iPhone maker’s stock valued at $2,823,000 after buying an additional 659 shares during the period. Stegent Equity Advisors Inc. raised its position in Apple by 14.5% in the first quarter. Stegent Equity Advisors Inc. now owns 9,522 shares of the iPhone maker’s stock worth $2,417,000 after acquiring an additional 1,204 shares in the last quarter. Alaska Wealth Advisors LLC lifted its holdings in Apple by 136.2% in the 1st quarter. Alaska Wealth Advisors LLC now owns 30,239 shares of the iPhone maker’s stock valued at $7,674,000 after acquiring an additional 17,438 shares during the last quarter. Merited Wealth LLC boosted its position in shares of Apple by 3.5% during the 1st quarter. Merited Wealth LLC now owns 6,462 shares of the iPhone maker’s stock valued at $1,640,000 after purchasing an additional 218 shares in the last quarter. Finally, Cane Capital Partners LLC grew its stake in shares of Apple by 7.2% in the 1st quarter. Cane Capital Partners LLC now owns 43,149 shares of the iPhone maker’s stock worth $10,951,000 after purchasing an additional 2,914 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Sanford C. Bernstein reiterated an “outperform” rating on shares of Apple in a report on Monday, June 8th. Maxim Group restated a “buy” rating and set a $350.00 target price (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. Tigress Financial restated a “strong-buy” rating and issued a $375.00 price target (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. DA Davidson reaffirmed a “neutral” rating and issued a $270.00 price target on shares of Apple in a report on Friday, May 1st. Finally, BNP Paribas Exane upgraded Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price objective for the company in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $314.85.

Apple Stock Performance

Apple stock opened at $315.32 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. Apple Inc. has a 12 month low of $201.50 and a 12 month high of $317.40. The company’s fifty day simple moving average is $299.55 and its 200-day simple moving average is $275.29. The stock has a market cap of $4.63 trillion, a P/E ratio of 38.13, a P/E/G ratio of 2.74 and a beta of 1.10.

Apple (NASDAQ:AAPL) last posted its quarterly 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. 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 business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the business earned $1.65 EPS. As a group, sell-side analysts forecast that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a dividend of $0.27 per share. This is a positive change from Apple’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. Apple’s dividend payout ratio (DPR) is currently 13.06%.

More Apple News

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

Insider Buying and Selling at Apple

In related news, insider Ben Borders sold 1,274 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $290.00, for a total value 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. This represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kevan Parekh sold 1,534 shares of the 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 in the company, valued at $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 2,924 shares of company stock worth $825,546. 0.06% of the stock is currently owned by company insiders.

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.