Apple Inc. $AAPL Holdings Trimmed by Element Squared LLC

Key Points

• Element Squared LLC cut its Apple stake by 31.2% in the first quarter, selling 4,124 shares and leaving it with 9,085 shares worth about $2.3 million.
• Several other hedge funds also adjusted Apple positions, while institutional investors still control 67.73% of the company’s stock.
• Apple reported strong quarterly results, beating EPS and revenue estimates, and raised its dividend to $0.27 per share from $0.26.

Element Squared LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 31.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,085 shares of the iPhone maker's stock after selling 4,124 shares during the quarter. Apple makes up 1.3% of Element Squared LLC's holdings, making the stock its 12th largest holding. Element Squared LLC's holdings in Apple were worth $2,306,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Lifetime Wealth Management P.C. purchased a new position in shares of Apple during the 4th quarter valued at $41,000. ROSS JOHNSON & Associates LLC lifted its holdings in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after purchasing an additional 180 shares during the last quarter. Timmons Wealth Management LLC bought a new stake in shares of Apple during the 4th quarter worth $69,000. LSV Asset Management acquired a new stake in shares of Apple in the fourth quarter valued at about $65,000. Finally, Inspire Investing LLC acquired a new stake in Apple in the 4th quarter valued at approximately $76,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insiders Place Their Bets

In related news, insider Ben Borders sold 1,274 shares of the company'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 owned 38,713 shares in the company, valued at $11,226,770. This represents a 3.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevan Parekh sold 1,534 shares of the firm's stock in a transaction on 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 directly owned 13,366 shares in the company, valued at $3,675,650. The trade was a 10.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 2,924 shares of company stock worth $825,546. Insiders own 0.06% of the company's stock.

Apple Stock Performance

Shares of AAPL stock opened at $315.32 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The stock has a market cap of $4.63 trillion, a PE ratio of 38.13, a price-to-earnings-growth ratio of 2.75 and a beta of 1.10. The stock has a 50-day moving average of $299.55 and a 200-day moving average of $275.26. Apple Inc. has a one year low of $201.50 and a one year high of $317.40.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. During the same quarter last year, the firm earned $1.65 EPS. Apple's quarterly revenue was up 16.6% compared to the same quarter last year. As a group, sell-side analysts expect that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The company 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. This represents a $1.08 annualized dividend and a yield of 0.3%. This is a boost from Apple's previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. Apple's dividend payout ratio (DPR) is 13.06%.

Analysts Set New Price Targets

AAPL has been the subject of several recent research reports. UBS Group reaffirmed a "buy" rating on shares of Apple in a report on Tuesday, June 9th. Citigroup reissued a "buy" rating on shares of Apple in a report on Monday, June 1st. Monness Crespi & Hardt increased their price objective on shares of Apple from $315.00 to $335.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Robert W. Baird set a $310.00 target price on Apple in a research report on Friday, May 1st. Finally, Rosenblatt Securities reissued a "neutral" rating and set a $276.00 price target on shares of Apple in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $314.85.

More Apple News

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

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.

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