Ally Financial Inc. Sells 44,000 Shares of Apple Inc. $AAPL

Ally Financial Inc. cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 88.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,000 shares of the iPhone maker's stock after selling 44,000 shares during the quarter. Ally Financial Inc.'s holdings in Apple were worth $1,631,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Reyes Financial Architecture Inc. lifted its holdings 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 valued at $2,520,000 after acquiring an additional 37 shares during the period. WESPAC Advisors LLC lifted its holdings in shares of Apple by 0.3% during the fourth quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker's stock valued at $3,351,000 after acquiring an additional 39 shares during the period. Interactive Financial Advisors Inc. lifted its holdings in shares of Apple by 4.0% during 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 period. American Alpha Advisors LLC lifted its holdings in shares of Apple by 3.7% during the third quarter. American Alpha Advisors LLC now owns 1,151 shares of the iPhone maker's stock valued at $293,000 after acquiring an additional 41 shares during the period. Finally, Orion Investment Co lifted its holdings in shares of Apple by 0.3% during the fourth quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker's stock valued at $3,902,000 after acquiring an additional 41 shares during the period. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Maxim Group reiterated a "buy" rating and set a $350.00 price target (up from $310.00) on shares of Apple in a research report on Tuesday. Bank of America restated a "buy" rating and issued a $380.00 price objective (up from $330.00) on shares of Apple in a research report on Tuesday, May 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research note on Tuesday, June 9th. Oppenheimer reiterated a "market perform" rating on shares of Apple in a research report on Tuesday. Finally, Rosenblatt Securities reiterated a "neutral" rating and set a $276.00 target price on shares of Apple in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $314.59.

Apple Stock Performance

Apple stock opened at $291.13 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 1 year low of $195.07 and a 1 year high of $317.40. The company has a market cap of $4.28 trillion, a PE ratio of 35.20, a PEG ratio of 2.53 and a beta of 1.09. The company's 50-day moving average is $285.64 and its two-hundred day moving average is $272.27.

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

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a $0.27 dividend. This is a boost 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 13.06%.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O'brien sold 30,002 shares of the firm's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total value of $7,661,010.70. Following the transaction, the senior vice president owned 136,810 shares of the company's stock, valued at approximately $34,934,433.50. This trade represents a 17.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 dated Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the transaction, the insider directly owned 38,713 shares in the company, valued at $11,226,770. This trade represents a 3.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 97,759 shares of company stock worth $24,964,305 over the last quarter. Company insiders own 0.06% of the company's stock.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s Services business posted record revenue in the fiscal second quarter, supported by ecosystem growth, AI-related updates, and its huge installed device base. Apple Continues to Expand Services Business: What's the Path Ahead?
• Positive Sentiment: Several commentators said Apple still has strong fundamentals, including a solid balance sheet, loyal customer base, and products investors continue to love, which supports the long-term bull case. Jim Cramer on Apple: “It Still Has Products We All Love”
• Positive Sentiment: Analysts at Erste Group Bank raised their earnings estimates for Apple, signaling expectations for steady profit growth over the next two fiscal years. Apple earnings estimate update
• Neutral Sentiment: Apple’s WWDC announcements showed a clearer AI roadmap, including next-generation Siri features and device software updates, but the market appears to be waiting for stronger evidence that these changes will drive meaningful revenue growth. Apple Unveils Siri AI. Here's Why It's Not Impressing Investors
• Neutral Sentiment: Some coverage suggested Apple’s AI launch could help the stock over time, but it may take more than Siri upgrades alone to restore investor enthusiasm. Apple Just Gave Investors a Glimpse of Is AI Future at WWDC. It May Take More to Revive AAPL Stock.
• Negative Sentiment: Investors are worried Apple’s AI ambitions are colliding with a memory-cost crunch, creating pricing pressure that could weigh on margins. Apple Faces a No-Win Pricing Dilemma. Should Investors Be Worried?
• Negative Sentiment: Multiple reports say the market was disappointed that Apple’s Siri AI reveal did not feel like a big enough breakthrough to justify a sharper rerating of the stock. Apple's AI News Underwhelms. Siri AI Release Concerns Persist.

Apple 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.

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