Apple Inc. $AAPL Holdings Reduced by Cardinal Point Capital Management ULC

Key Points

• Cardinal Point Capital Management ULC cut its Apple stake by 14.4% in the first quarter, selling 39,522 shares and leaving it with 234,645 shares valued at about $59.6 million.
• Apple reported better-than-expected quarterly results, posting EPS of $2.01 versus $1.95 expected and revenue of $111.18 billion versus $109.46 billion expected, with revenue up 16.6% year over year.
• The company also raised its quarterly dividend to $0.27 per share from $0.26, while analysts remain broadly constructive with a consensus rating of “Moderate Buy” and an average price target of $314.85.

Cardinal Point Capital Management ULC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 14.4% during the first quarter, according to its most recent Form 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 accounts for 3.7% of Cardinal Point Capital Management ULC's investment portfolio, making the stock its 6th largest position. Cardinal Point Capital Management ULC's holdings in Apple were worth $59,551,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Apple in the fourth quarter valued at about $52,266,468,000. Nuveen LLC acquired a new position in shares of Apple in the 1st quarter worth approximately $17,472,482,000. Cardano Risk Management B.V. boosted its position in shares of Apple by 890.7% during the fourth quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker's stock worth $11,413,990,000 after buying an additional 37,746,784 shares during the period. Laurel Wealth Advisors LLC grew its position in Apple by 20,464.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker's stock valued at $5,553,753,000 after acquiring an additional 26,937,401 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Apple by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock valued at $387,749,545,000 after purchasing an additional 26,856,752 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Up 1.7%

AAPL stock opened at $294.38 on Thursday. The stock has a market cap of $4.32 trillion, a P/E ratio of 35.60, a PEG 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 Inc. has a twelve month low of $201.50 and a twelve month high of $317.40. The company's 50 day moving average is $293.69 and its two-hundred day moving average is $273.39.

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 business had revenue of $111.18 billion during the quarter, compared to analysts' expectations 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 in the prior year, the business posted $1.65 EPS. Research analysts expect that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders 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. This represents a $1.08 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, May 11th. Apple's payout ratio is currently 13.06%.

Insider Buying and Selling at Apple

In other Apple 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 transaction, the insider owned 38,713 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Also, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the sale, the chief financial officer owned 13,366 shares in the company, valued at $3,675,650. This trade represents a 10.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,924 shares of company stock valued at $825,546 in the last 90 days. 0.06% of the stock is currently owned by insiders.

Apple News Summary

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AAPL shares. UBS Group reissued a "buy" rating on shares of Apple in a research report on Tuesday, June 9th. Robert W. Baird set a $310.00 price target on shares of Apple in a research note on Friday, May 1st. Maxim Group reiterated a "buy" rating and set a $350.00 price target (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. Wedbush reissued an "outperform" rating and issued a $400.00 price objective on shares of Apple in a research report on Friday, June 5th. Finally, Evercore restated 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 assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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