Apple Inc. $AAPL is Cardinal Point Capital Management ULC's 2nd Largest Position

Key Points

• Cardinal Point Capital Management ULC trimmed its Apple stake by 1.5% in the fourth quarter but still held 274,167 shares worth about $74.5 million, making Apple its second-largest position and 4.9% of its portfolio.
• Apple’s latest quarterly results beat expectations, with $2.01 EPS and $111.18 billion in revenue, while revenue rose 16.6% year over year. The company also increased its quarterly dividend to $0.27 per share.
• Investor focus remains on Apple’s AI and Siri roadmap ahead of WWDC, but there are mixed signals: analysts are generally bullish, while concerns persist about slowing App Store growth and ongoing regulatory risk in India.

Cardinal Point Capital Management ULC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 274,167 shares of the iPhone maker's stock after selling 4,187 shares during the quarter. Apple accounts for 4.9% of Cardinal Point Capital Management ULC's holdings, making the stock its 2nd largest position. Cardinal Point Capital Management ULC's holdings in Apple were worth $74,535,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Apple by 1.9% during 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 acquiring an additional 26,856,752 shares in the last quarter. State Street Corp raised its position in Apple by 0.9% during the second quarter. State Street Corp now owns 601,249,995 shares of the iPhone maker's stock valued at $123,358,461,000 after acquiring an additional 5,224,229 shares in the last quarter. Geode Capital Management LLC raised its position in Apple by 1.4% during the second quarter. Geode Capital Management LLC now owns 354,749,794 shares of the iPhone maker's stock valued at $72,506,336,000 after acquiring an additional 4,942,638 shares in the last quarter. Norges Bank purchased a new position in Apple during the second quarter valued at approximately $38,942,255,000. Finally, Northern Trust Corp raised its position in Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after acquiring an additional 20,079,472 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Investors are looking for WWDC to showcase a major Siri overhaul and new AI features, which could help justify a higher valuation if Apple demonstrates stronger product momentum. Article Title
• Positive Sentiment: Apple’s App Store generated more than $1.4 trillion in developer sales and billings last year, reinforcing the scale and stickiness of its Services ecosystem. Article Title
• Positive Sentiment: Analysts remain constructive on Apple’s AI roadmap and ecosystem strength, with several price-target hikes and Buy calls suggesting upside if the company executes at WWDC. Article Title
• Neutral Sentiment: Apple approved Poke as the first AI agent on its Messages for Business platform, showing early AI adoption inside its messaging ecosystem, but the near-term financial impact appears limited. Article Title
• Neutral Sentiment: Reports that Apple may use Google cloud servers and Nvidia chips to help power Siri signal a faster AI rollout, though they also highlight Apple’s reliance on outside infrastructure. Article Title
• Negative Sentiment: UBS warned that App Store growth is decelerating, which matters because App Store revenue is a key driver of Apple’s high-margin Services segment. Article Title
• Negative Sentiment: Apple agreed to submit India financials in a long-running antitrust case, keeping regulatory risk in focus as authorities move closer to a penalty decision. Article Title

Analyst Ratings Changes

AAPL has been the subject of a number of recent analyst reports. Needham & Company LLC restated a "hold" rating on shares of Apple in a research report on Friday, May 1st. Citigroup restated a "buy" rating on shares of Apple in a research report on Monday. UBS Group restated a "neutral" rating on shares of Apple in a research report on Wednesday. Barclays restated an "underweight" rating and issued a $253.00 price objective (up from $248.00) on shares of Apple in a research report on Friday, May 1st. Finally, 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. One equities 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 assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $312.82.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $311.24 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 business's 50 day moving average price is $280.29 and its 200-day moving average price is $271.11. The firm has a market capitalization of $4.57 trillion, a PE ratio of 37.63, a P/E/G ratio of 2.70 and a beta of 1.09. Apple Inc. has a 1 year low of $195.07 and a 1 year high of $316.94.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.06. The firm had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business's revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.65 earnings per share. As a group, equities 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 dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. This is an increase from Apple's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. Apple's dividend payout ratio is presently 13.06%.

Insider Buying and Selling

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the business's stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the transaction, the chief financial officer owned 13,366 shares of the company's stock, valued at approximately $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ben Borders sold 1,274 shares of the business's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following 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. Over the last three months, insiders sold 97,759 shares of company stock worth $24,964,305. 0.06% of the stock is currently owned by corporate insiders.

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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