Klingenstein Fields & Co. LP Cuts Stock Holdings in Apple Inc. $AAPL

Klingenstein Fields & Co. LP cut its holdings in Apple Inc. (NASDAQ:AAPL) by 1.3% during the 4th quarter, Holdings Channel reports. The firm owned 363,394 shares of the iPhone maker’s stock after selling 4,740 shares during the period. Apple makes up approximately 3.7% of Klingenstein Fields & Co. LP’s investment portfolio, making the stock its 6th biggest position. Klingenstein Fields & Co. LP’s holdings in Apple were worth $98,792,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Apple by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock worth $387,749,545,000 after purchasing an additional 26,856,752 shares during the last quarter. State Street Corp grew its stake in shares of Apple by 0.9% in the second quarter. State Street Corp now owns 601,249,995 shares of the iPhone maker’s stock worth $123,358,461,000 after purchasing an additional 5,224,229 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Apple by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker’s stock worth $97,031,587,000 after purchasing an additional 1,866,103 shares during the last quarter. Norges Bank bought a new stake in Apple during the 4th quarter valued at approximately $52,266,468,000. Finally, Northern Trust Corp boosted its position in Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after acquiring an additional 20,079,472 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s Services business posted record revenue in the fiscal second quarter, supported by ecosystem growth, AI-related updates, and its huge installed device base. Apple Continues to Expand Services Business: What’s the Path Ahead?
• Positive Sentiment: Several commentators said Apple still has strong fundamentals, including a solid balance sheet, loyal customer base, and products investors continue to love, which supports the long-term bull case. Jim Cramer on Apple: “It Still Has Products We All Love”
• Positive Sentiment: Analysts at Erste Group Bank raised their earnings estimates for Apple, signaling expectations for steady profit growth over the next two fiscal years. Apple earnings estimate update
• Neutral Sentiment: Apple’s WWDC announcements showed a clearer AI roadmap, including next-generation Siri features and device software updates, but the market appears to be waiting for stronger evidence that these changes will drive meaningful revenue growth. Apple Unveils Siri AI. Here’s Why It’s Not Impressing Investors
• Neutral Sentiment: Some coverage suggested Apple’s AI launch could help the stock over time, but it may take more than Siri upgrades alone to restore investor enthusiasm. Apple Just Gave Investors a Glimpse of Is AI Future at WWDC. It May Take More to Revive AAPL Stock.
• Negative Sentiment: Investors are worried Apple’s AI ambitions are colliding with a memory-cost crunch, creating pricing pressure that could weigh on margins. Apple Faces a No-Win Pricing Dilemma. Should Investors Be Worried?
• Negative Sentiment: Multiple reports say the market was disappointed that Apple’s Siri AI reveal did not feel like a big enough breakthrough to justify a sharper rerating of the stock. Apple’s AI News Underwhelms. Siri AI Release Concerns Persist.

Insider Buying and Selling at Apple

In other news, insider Ben Borders sold 1,274 shares of Apple stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the transaction, the insider directly owned 38,713 shares in the company, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $421,850.00. Following the transaction, the chief financial officer owned 13,366 shares of the company’s stock, valued at $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. Insiders have sold a total of 97,759 shares of company stock valued at $24,964,305 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Rosenblatt Securities reaffirmed a “neutral” rating and set a $276.00 price objective on shares of Apple in a research report on Tuesday. DA Davidson reaffirmed a “neutral” rating and set a $270.00 price objective on shares of Apple in a research report on Friday, May 1st. Monness Crespi & Hardt lifted their price objective on Apple from $315.00 to $335.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Bank of America reaffirmed a “buy” rating and set a $380.00 price objective (up from $330.00) on shares of Apple in a research report on Tuesday, May 26th. Finally, Wedbush reaffirmed an “outperform” rating and set a $400.00 price objective on shares of Apple in a research report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $314.59.

Apple Price Performance

AAPL stock opened at $291.13 on Friday. The firm has a 50 day moving average price of $285.64 and a 200-day moving average price of $272.27. Apple Inc. has a 52-week low of $195.07 and a 52-week high of $317.40. The firm has a market capitalization of $4.28 trillion, a price-to-earnings ratio of 35.20, a PEG ratio of 2.57 and a beta of 1.09. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. During the same period last year, the business earned $1.65 earnings per share. The business’s revenue was up 16.6% on a year-over-year basis. Equities research analysts forecast that Apple Inc. will post 8.75 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is 13.06%.

Apple 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.