Perkins Capital Management Inc. Lowers Holdings in Apple Inc. $AAPL

Perkins Capital Management Inc. trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 43.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,650 shares of the iPhone maker’s stock after selling 2,000 shares during the quarter. Perkins Capital Management Inc.’s holdings in Apple were worth $673,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AAPL. SMART Wealth LLC grew its stake in shares of Apple by 20.0% in the first quarter. SMART Wealth LLC now owns 16,375 shares of the iPhone maker’s stock worth $4,156,000 after acquiring an additional 2,724 shares during the last quarter. KOM Wealth Management Group LLC raised its position in shares of Apple by 3.1% in the 1st quarter. KOM Wealth Management Group LLC now owns 3,097 shares of the iPhone maker’s stock worth $786,000 after purchasing an additional 92 shares during the last quarter. Premier Path Wealth Partners LLC boosted its stake in Apple by 0.6% in the 1st quarter. Premier Path Wealth Partners LLC now owns 153,212 shares of the iPhone maker’s stock worth $38,884,000 after purchasing an additional 894 shares in the last quarter. Foundry Financial Group Inc. grew its position in Apple by 14.6% during the 1st quarter. Foundry Financial Group Inc. now owns 3,963 shares of the iPhone maker’s stock valued at $1,006,000 after purchasing an additional 504 shares during the last quarter. Finally, Inman Jager Wealth Management LLC grew its position in Apple by 2.4% during the 1st quarter. Inman Jager Wealth Management LLC now owns 9,805 shares of the iPhone maker’s stock valued at $2,488,000 after purchasing an additional 227 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Apple Stock Down 0.3%

Shares of AAPL stock opened at $315.32 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. Apple Inc. has a 12 month low of $201.50 and a 12 month high of $317.40. The stock has a market cap of $4.63 trillion, a P/E ratio of 38.13, a P/E/G ratio of 2.75 and a beta of 1.10. The company has a 50 day simple moving average of $299.55 and a two-hundred day simple moving average of $275.26.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. During the same period in the previous year, the business earned $1.65 earnings per share. Apple’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, research analysts expect 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 given a dividend of $0.27 per share. 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 dividend yield of 0.3%. The ex-dividend date was Monday, May 11th. Apple’s dividend payout ratio (DPR) is currently 13.06%.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s new lawsuit against OpenAI could help protect its hardware roadmap and reinforce its control over proprietary technology, which may support its long-term competitive position. Reuters: Apple sues OpenAI, two former employees for trade secrets theft
• Positive Sentiment: Recent headlines around Apple’s expanded multi-year chip deal with Broadcom continue to boost sentiment, since the agreement strengthens Apple’s supply chain, supports U.S. manufacturing, and deepens its custom silicon strategy. Yahoo Finance: Apple Secures Largest Ever US Chip Deal With Broadcom For $30 Billion
• Neutral Sentiment: Apple was also named among approved U.S. companies eligible for license-free exports under eased UAE trade rules, which is supportive for international operations but not clearly a near-term stock catalyst. Quiver Quant: U.S. eases export controls on UAE
• Neutral Sentiment: Short-interest data showed no meaningful change, suggesting today’s move is being driven more by news flow than by a shift in bearish positioning.
• Negative Sentiment: The OpenAI lawsuit also highlights that Apple’s relationship with a major AI player has soured, adding uncertainty around future AI partnerships and potentially distracting management with litigation. Financial Times: Apple sues OpenAI, alleging it stole top-secret information

Insiders Place Their Bets

In other news, insider Ben Borders sold 1,274 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the transaction, the insider owned 38,713 shares in the company, valued at $11,226,770. This trade represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kevan Parekh sold 1,534 shares of the firm’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 value 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. This represents a 10.30% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 2,924 shares of company stock valued at $825,546. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

AAPL has been the subject of several analyst reports. BNP Paribas Exane raised shares of Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price target for the company in a research report on Friday, April 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research report on Tuesday, June 9th. Morgan Stanley reiterated an “overweight” rating on shares of Apple in a research note on Friday, June 26th. Tigress Financial restated a “strong-buy” rating and issued a $375.00 price target (up from $305.00) on shares of Apple in a research note on Thursday, May 14th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Apple in a report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Apple currently has a consensus 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.