Apple Inc. $AAPL Shares Sold by SVB Wealth LLC

SVB Wealth LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 8.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 346,827 shares of the iPhone maker’s stock after selling 32,063 shares during the quarter. Apple makes up about 5.8% of SVB Wealth LLC’s portfolio, making the stock its biggest holding. SVB Wealth LLC’s holdings in Apple were worth $88,021,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Bell Investment Advisors Inc raised its stake in shares of Apple by 50.8% during the 1st quarter. Bell Investment Advisors Inc now owns 37,248 shares of the iPhone maker’s stock worth $9,453,000 after purchasing an additional 12,548 shares in the last quarter. Outlook Wealth Advisors LLC grew its stake in shares of Apple by 1.3% in the first quarter. Outlook Wealth Advisors LLC now owns 23,520 shares of the iPhone maker’s stock valued at $5,969,000 after buying an additional 311 shares in the last quarter. Anchyra Partners LLC increased its holdings in Apple by 2.5% during the first quarter. Anchyra Partners LLC now owns 60,469 shares of the iPhone maker’s stock worth $15,346,000 after buying an additional 1,458 shares during the last quarter. Marathon Mission Inc. increased its holdings in Apple by 2.6% during the first quarter. Marathon Mission Inc. now owns 4,816 shares of the iPhone maker’s stock worth $1,222,000 after buying an additional 123 shares during the last quarter. Finally, Summit Wealth Partners LLC raised its position in Apple by 108.3% during the first quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker’s stock worth $8,880,000 after acquiring an additional 18,188 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Some analysts and traders see the recent decline as overdone, arguing that Apple’s pullback has created an attractive entry point and that the stock is oversold at support. Stock Of The Day: Is The Apple Sell-Off Over?
• Positive Sentiment: Morgan Stanley reiterated a Buy rating on AAPL, saying Apple’s pricing and margin-defense strategy supports upside and leaving its $360 target unchanged. Apple Buy Rating Reiterated as Margin Defense Strategy Supports Upside; $360 Price Target Unchanged
• Neutral Sentiment: Wall Street remains divided on the broader implications of Apple’s recent price hikes, with some analysts saying the company can pass through costs thanks to its loyal customer base, while others warn the iPhone will be the real test. Apple Can Get Away With Mac Price Hikes, but iPhone Is the Real Test
• Negative Sentiment: Apple raised prices on several Mac and iPad models because surging memory and storage chip costs tied to AI demand are squeezing margins, raising concerns that higher prices could hurt demand and signal more pressure ahead. Apple raises prices of MacBooks, iPads as memory costs skyrocket
• Negative Sentiment: Apple also lost a key Vision Pro hardware executive to OpenAI, adding to investor concern about execution in its spatial-computing and AI efforts. Apple (AAPL) Loses Key Vision Pro Hardware Chief to OpenAI in Major Talent Blow

Analyst Upgrades and Downgrades

A number of analysts have commented on AAPL shares. Stifel Nicolaus set a $330.00 price target on shares of Apple in a research note on Monday, March 2nd. Maxim Group reaffirmed a “buy” rating and issued a $350.00 target price (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. Tigress Financial reiterated a “strong-buy” rating and issued a $375.00 target price (up from $305.00) on shares of Apple in a research note on Thursday, May 14th. UBS Group reiterated a “buy” rating on shares of Apple in a report on Tuesday, June 9th. Finally, Oppenheimer reissued a “market perform” rating on shares of Apple in a research report 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.85.

Apple Stock Up 3.3%

NASDAQ AAPL opened at $284.29 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The company has a market cap of $4.18 trillion, a price-to-earnings ratio of 34.38, a PEG ratio of 2.47 and a beta of 1.09. The company has a 50 day moving average of $292.51 and a 200-day moving average of $273.20. Apple Inc. has a 1-year low of $199.26 and a 1-year high of $317.40.

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

Apple Increases Dividend

The business 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. This is an increase from Apple’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. Apple’s payout ratio is currently 13.06%.

Insider Buying and Selling

In related news, insider Ben Borders sold 1,274 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the transaction, the insider owned 38,713 shares of the company’s stock, valued at $11,226,770. The trade was 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 available through this link. Also, SVP Deirdre O’brien sold 30,002 shares of the company’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the sale, the senior vice president directly owned 136,810 shares of the company’s stock, valued at $34,934,433.50. This represents a 17.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 97,875 shares of company stock worth $24,998,541 over the last three months. Company insiders own 0.06% of the company’s stock.

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.