Arax Advisory Partners Has $84.74 Million Stock Holdings in Apple Inc. $AAPL

Arax Advisory Partners lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 46.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 311,700 shares of the iPhone maker’s stock after selling 268,906 shares during the period. Apple comprises 2.5% of Arax Advisory Partners’ holdings, making the stock its 3rd largest holding. Arax Advisory Partners’ holdings in Apple were worth $84,739,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Overbrook Management Corp raised its stake in Apple by 57.4% during the fourth quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock worth $28,449,000 after buying an additional 38,174 shares during the last quarter. Tufton Capital Management raised its stake in Apple by 4.3% during the third quarter. Tufton Capital Management now owns 100,130 shares of the iPhone maker’s stock worth $25,496,000 after buying an additional 4,157 shares during the last quarter. Torren Management LLC bought a new position in Apple during the fourth quarter worth $1,178,000. KBC Group NV raised its stake in Apple by 3.1% during the fourth quarter. KBC Group NV now owns 7,044,697 shares of the iPhone maker’s stock worth $1,915,172,000 after buying an additional 214,215 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in Apple by 5.5% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 2,246,305 shares of the iPhone maker’s stock worth $572,168,000 after buying an additional 116,960 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In other news, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the completion of the transaction, the chief financial officer directly owned 13,366 shares in the company, valued at $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ben Borders sold 1,274 shares of Apple stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the transaction, the insider owned 38,713 shares of the company’s stock, valued at $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 97,759 shares of company stock valued at $24,964,305 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus set a $330.00 target price on shares of Apple in a research note on Monday, March 2nd. KeyCorp reaffirmed a “sector weight” rating on shares of Apple in a research note on Tuesday. Jefferies Financial Group reaffirmed a “hold” rating on shares of Apple in a research note on Tuesday. UBS Group reaffirmed a “buy” rating on shares of Apple in a research note on Tuesday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $400.00 price target on shares of Apple in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $314.59.

Apple News Summary

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.

Apple Stock Down 1.5%

Shares of NASDAQ AAPL opened at $291.13 on Friday. The stock has a market capitalization of $4.28 trillion, a P/E ratio of 35.20, a P/E/G ratio of 2.53 and a beta of 1.09. The company has a 50-day moving average price of $285.64 and a 200-day moving average price of $272.27. Apple Inc. has a 1 year low of $195.07 and a 1 year high of $317.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPL) last issued 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 firm had revenue of $111.18 billion during 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 was up 16.6% on a year-over-year basis. During the same period last year, the company earned $1.65 earnings per share. On average, equities research analysts forecast that Apple Inc. will post 8.75 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently disclosed 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. 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 0.4%. The ex-dividend date was Monday, May 11th. Apple’s dividend payout ratio is 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.