Seven Mile Advisory Sells 14,469 Shares of Apple Inc. $AAPL

Seven Mile Advisory decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 24.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,362 shares of the iPhone maker’s stock after selling 14,469 shares during the period. Apple comprises approximately 2.1% of Seven Mile Advisory’s investment portfolio, making the stock its 14th biggest holding. Seven Mile Advisory’s holdings in Apple were worth $12,060,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. South Plains Financial Inc. grew its position in shares of Apple by 3.8% in the fourth quarter. South Plains Financial Inc. now owns 27,711 shares of the iPhone maker’s stock valued at $7,533,000 after purchasing an additional 1,008 shares during the last quarter. MLP3 LLC acquired a new position in shares of Apple in the fourth quarter valued at approximately $2,587,000. MML Investors Services LLC grew its position in shares of Apple by 5.9% in the fourth quarter. MML Investors Services LLC now owns 2,778,119 shares of the iPhone maker’s stock valued at $755,260,000 after purchasing an additional 154,601 shares during the last quarter. Mariner LLC grew its position in shares of Apple by 5.2% in the fourth quarter. Mariner LLC now owns 17,268,228 shares of the iPhone maker’s stock valued at $4,694,783,000 after purchasing an additional 853,890 shares during the last quarter. Finally, MayTech Global Investments LLC grew its position in shares of Apple by 0.7% in the fourth quarter. MayTech Global Investments LLC now owns 157,467 shares of the iPhone maker’s stock valued at $42,810,000 after purchasing an additional 1,076 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Wedbush said Apple’s WWDC AI rollout could be the “first step” toward adding as much as $100 to the stock, as investors focus on the company’s AI execution and the potential for a stronger Siri/Apple Intelligence roadmap. Article Title
• Positive Sentiment: Multiple reports on iOS 27 and Apple Intelligence suggest Apple is making progress on features that could improve older iPhones, expand software value, and strengthen the case for users to upgrade into the next product cycle. Article Title
• Positive Sentiment: Analyst commentary remains constructive, with several firms reiterating buy/overweight views and price targets clustered well above current levels, reinforcing a bullish long-term sentiment on AAPL. Article Title
• Neutral Sentiment: Several articles highlight Apple’s strong recent operating performance, including record iPhone demand and services revenue, but these are largely a rehash of prior earnings strength rather than a fresh catalyst. Article Title
• Negative Sentiment: A Yahoo Finance report says rising memory chip costs could pressure Apple’s hardware margins as AI features require more device memory, creating a potential headwind for profitability over the next few quarters. Article Title
• Negative Sentiment: Broader sentiment is also being dampened by articles noting that the Magnificent Seven, including Apple, have been weak in June and have lagged the broader market at times, which can weigh on near-term momentum. Article Title

Analyst Upgrades and Downgrades

AAPL has been the topic of several research reports. DA Davidson reaffirmed a “neutral” rating and issued a $270.00 target price on shares of Apple in a research report on Friday, May 1st. Evercore reaffirmed an “outperform” rating on shares of Apple in a research report on Monday, June 8th. Stifel Nicolaus set a $330.00 target price on Apple in a research report on Monday, March 2nd. Jefferies Financial Group reaffirmed a “hold” rating on shares of Apple in a research report on Tuesday, June 9th. Finally, Moffett Nathanson upped their target price on Apple from $241.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. One 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $314.59.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 64,949 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total value of $16,511,984.27. Following the sale, the chief executive officer owned 3,280,418 shares of the company’s stock, valued at approximately $833,980,668.14. This trade represents a 1.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 1,274 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the sale, 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. In the last 90 days, insiders sold 97,759 shares of company stock worth $24,964,305. 0.06% of the stock is owned by company insiders.

Apple Trading Up 1.8%

Shares of AAPL stock opened at $296.42 on Tuesday. The stock’s fifty day moving average price is $286.45 and its two-hundred day moving average price is $272.38. The company has a market cap of $4.35 trillion, a PE ratio of 35.84, a P/E/G ratio of 2.53 and a beta of 1.09. Apple Inc. has a fifty-two week low of $195.07 and a fifty-two week high of $317.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The firm had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company’s revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.65 EPS. Equities analysts predict that Apple Inc. will post 8.75 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a $0.27 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from Apple’s previous quarterly dividend of $0.26. Apple’s dividend payout ratio (DPR) is 13.06%.

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.