Apple Inc. $AAPL Shares Sold by Cardinal Point Capital Management ULC

Cardinal Point Capital Management ULC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 14.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 234,645 shares of the iPhone maker’s stock after selling 39,522 shares during the period. Apple makes up 3.7% of Cardinal Point Capital Management ULC’s investment portfolio, making the stock its 6th largest holding. Cardinal Point Capital Management ULC’s holdings in Apple were worth $59,551,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Lifetime Wealth Management P.C. purchased a new position in Apple in the 4th quarter valued at approximately $41,000. ROSS JOHNSON & Associates LLC grew its holdings in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares during the last quarter. Timmons Wealth Management LLC acquired a new stake in Apple in the fourth quarter valued at $69,000. LSV Asset Management purchased a new position in shares of Apple in the fourth quarter valued at $65,000. Finally, Inspire Investing LLC purchased a new position in shares of Apple in the fourth quarter valued at $76,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: UBS said iPhone demand is improving in key markets, though it does not appear to be driven by Apple Intelligence. Apple’s (AAPL) iPhone Demand Is Improving, But AI Isn’t The Reason Why
• Positive Sentiment: Several articles highlighted Apple as a favored large-cap name, with bullish pieces citing seasonal strength, Warren Buffett-style appeal, and strong long-term fundamentals. This Stock is My Biggest Bet For July
• Neutral Sentiment: Apple’s AI expansion remains a focus, with reports saying the company is weaving AI deeper into services and hardware, but competition from Alphabet and Microsoft keeps expectations in check. Apple’s AI Expansion Aims to Boost Services Momentum: What’s Ahead?
• Negative Sentiment: Apple is dealing with a reported memory-chip crunch that has already forced price increases on some products, which could pressure margins and demand if costs stay elevated. Apple negotiates with blacklisted Chinese chipmakers amid AI-driven memory crunch
• Negative Sentiment: Supply-chain and cybersecurity concerns also weighed on sentiment after reports of a Tata Electronics breach exposed confidential iPhone 18 Pro-related information. Apple’s China Memory Push Could Be a Win for AAPL Stock
• Negative Sentiment: Regulatory pressure remains a risk, with Russia warning of a possible fine and the U.K. CMA targeting Apple’s App Store payment rules, which could eventually hit services revenue. Russia warns Apple of $52 million fine over alleged bias against local apps

Insider Activity at Apple

In related news, CFO Kevan Parekh sold 1,534 shares of the company’s 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 completion of the transaction, the chief financial officer 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ben Borders sold 1,274 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the transaction, the insider directly owned 38,713 shares in the company, valued at approximately $11,226,770. This represents a 3.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 2,924 shares of company stock valued at $825,546 in the last ninety days. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

NASDAQ AAPL opened at $294.38 on Thursday. The business’s 50-day moving average price is $293.69 and its 200 day moving average price is $273.39. Apple Inc. has a twelve month low of $201.50 and a twelve month high of $317.40. The company has a market capitalization of $4.32 trillion, a PE ratio of 35.60, a price-to-earnings-growth ratio of 2.52 and a beta of 1.10. 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 (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating the consensus estimate of $1.95 by $0.06. The company had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.65 EPS. On average, research analysts predict that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a $0.27 dividend. 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 dividend on an annualized basis and a yield of 0.4%. Apple’s payout ratio is presently 13.06%.

Analysts Set New Price Targets

Several equities research analysts recently commented on AAPL shares. DA Davidson reiterated a “neutral” rating and issued a $270.00 price objective on shares of Apple in a research report on Friday, May 1st. Barclays reiterated an “underweight” rating on shares of Apple in a research report on Tuesday, June 9th. KGI Securities cut Apple from an “outperform” rating to a “hold” rating and set a $315.00 target price on the stock. in a report on Monday, June 22nd. Tigress Financial reissued a “strong-buy” rating and issued a $375.00 price target (up from $305.00) on shares of Apple in a report on Thursday, May 14th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Apple in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $314.85.

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.