Apple Inc. $AAPL Shares Sold by First United Bank & Trust

First United Bank & Trust decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 6.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 33,869 shares of the iPhone maker’s stock after selling 2,242 shares during the quarter. Apple makes up 2.8% of First United Bank & Trust’s investment portfolio, making the stock its 8th largest position. First United Bank & Trust’s holdings in Apple were worth $8,596,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Reyes Financial Architecture Inc. boosted its position in shares of Apple by 0.4% during the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock worth $2,520,000 after purchasing an additional 37 shares in the last quarter. WESPAC Advisors LLC raised its holdings in shares of Apple by 0.3% in the fourth quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker’s stock valued at $3,351,000 after purchasing an additional 39 shares during the last quarter. Interactive Financial Advisors Inc. increased its position in shares of Apple by 4.0% in the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock valued at $286,000 after acquiring an additional 40 shares during the last quarter. Orion Investment Co raised its stake in shares of Apple by 0.3% during the 4th quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker’s stock worth $3,902,000 after purchasing an additional 41 shares in the last quarter. Finally, Seven Springs Wealth Group LLC grew its position in shares of Apple by 0.3% in the 3rd quarter. Seven Springs Wealth Group LLC now owns 15,451 shares of the iPhone maker’s stock valued at $3,934,000 after acquiring an additional 42 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several research reports. Evercore reiterated an “outperform” rating on shares of Apple in a report on Monday, June 8th. Maxim Group reiterated a “buy” rating and set a $350.00 price objective (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. Tigress Financial reissued a “strong-buy” rating and set a $375.00 target price (up from $305.00) on shares of Apple in a report on Thursday, May 14th. Citigroup reaffirmed a “buy” rating on shares of Apple in a research report on Monday, June 1st. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $310.00 price objective (up from $300.00) on shares of Apple in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $314.85.

Insiders Place Their Bets

In related news, insider Ben Borders sold 116 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the transaction, the insider directly owned 38,713 shares of the company’s stock, valued at $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the sale, the chief financial officer directly 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 2,924 shares of company stock worth $825,546 in the last ninety days. Insiders own 0.06% of the company’s stock.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Reports that Apple plans at least five new iPhone models through early 2027, including a stronger foldable iPhone push, have reinforced expectations for a fresh product cycle and a longer growth runway. Apple plans five new iPhones through 2027, eyes Chinese-made chips amid foldable push, reports say
• Positive Sentiment: Apple also appears to be benefiting from investor optimism that it can navigate the memory-chip shortage and secure supply, including possible deals with lower-cost Chinese chipmakers, which could help protect future production. Apple negotiates with blacklisted Chinese chipmakers amid AI-driven memory crunch
• Positive Sentiment: Several market commentary pieces said Apple is holding up better than the broader tech sector, with traders viewing recent weakness as a buying opportunity and analysts still pointing to solid upside potential. Apple’s Aggressive Price Hikes Raise Eyebrows As Wall Street Links AI Chip Shortages To Inflation Pressure
• Neutral Sentiment: Apple’s recent price hikes on Macs and iPads are being interpreted two ways: as a sign of inflationary component costs, but also as a margin-protection move that may not hurt demand as much as feared. Jim Cramer’s Latest Thought on Apple Inc. (AAPL)
• Neutral Sentiment: Apple’s insider-selling activity and mixed institutional positioning are adding caution, but they are not the main driver of the stock today. Apple Stock (AAPL) Opinions on Recent Price Hikes and Analyst Views
• Negative Sentiment: Some coverage continues to flag pressure on Apple’s margins and demand if higher component costs force more price increases, which could weigh on sentiment over time. Is Apple stock in trouble? Rising costs threaten margins, demand

Apple Stock Performance

Shares of AAPL stock opened at $308.63 on Friday. The stock’s fifty day simple moving average is $295.25 and its 200 day simple moving average is $273.85. The firm has a market capitalization of $4.53 trillion, a P/E ratio of 37.32, a P/E/G ratio of 2.68 and a beta of 1.10. Apple Inc. has a twelve month low of $201.50 and a twelve month high of $317.40. 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 (NASDAQ:AAPL) last posted its 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. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. During the same period in the previous year, the firm posted $1.65 EPS. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, sell-side analysts predict that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a $0.27 dividend. This is an increase from Apple’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. Apple’s dividend payout ratio is presently 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.