Apple Inc. $AAPL is Connors Investor Services Inc.'s 2nd Largest Position

Key Points

• Connors Investor Services increased its Apple stake by 9.9% in the fourth quarter, making Apple its 2nd largest position. The fund now holds 186,185 shares valued at about $50.6 million.
• Apple continues to attract heavy institutional ownership and analyst support. Major firms like Vanguard, State Street, and Geode all added shares, while Wall Street’s average rating remains Moderate Buy with an average price target of $312.82.
• Recent business updates were mostly positive: Apple beat quarterly earnings expectations, raised its dividend, and faces optimism around its upcoming WWDC event and AI strategy. However, some analysts warn that valuation and slowing App Store growth could be risks if AI execution disappoints.

Connors Investor Services Inc. raised its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 9.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 186,185 shares of the iPhone maker's stock after buying an additional 16,825 shares during the quarter. Apple comprises 4.4% of Connors Investor Services Inc.'s holdings, making the stock its 2nd largest position. Connors Investor Services Inc.'s holdings in Apple were worth $50,604,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased 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 during the period. State Street Corp increased its holdings in shares of Apple by 0.9% in 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 purchasing an additional 5,224,229 shares during the period. Geode Capital Management LLC increased its holdings in shares of Apple by 1.4% in 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 purchasing an additional 4,942,638 shares during the period. Norges Bank acquired a new position in shares of Apple in the second quarter valued at about $38,942,255,000. Finally, Northern Trust Corp increased its holdings in shares of Apple by 13.3% in 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 purchasing an additional 20,079,472 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wells Fargo & Company reissued an "overweight" rating and issued a $310.00 price objective (up from $300.00) on shares of Apple in a report on Friday, May 1st. BNP Paribas Exane raised Apple from a "neutral" rating to an "outperform" rating and set a $300.00 target price on the stock in a report on Friday, April 17th. Bank of America reaffirmed a "buy" rating and set a $380.00 target price (up from $330.00) on shares of Apple in a report on Tuesday, May 26th. Rosenblatt Securities raised their target price on Apple from $268.00 to $276.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. Finally, Moffett Nathanson raised their target price on Apple from $241.00 to $270.00 and gave the stock a "neutral" rating in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $312.82.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s WWDC keynote is expected to highlight a revamped Siri, Apple Intelligence updates, and a broader AI strategy, which could act as a near-term catalyst if the company shows meaningful progress. Will WWDC Drive Apple Stock (AAPL) Higher? Here’s What Analysts Expect
• Positive Sentiment: Analysts remain constructive, with Citi reiterating a Buy and Wedbush reaffirming Outperform with a $400 target, citing Apple’s AI inflection point and resilient iPhone fundamentals. Asiya Merchant Reiterates Buy on Apple, Citing AI Strategy Inflection and Resilient iPhone Fundamentals
• Positive Sentiment: Apple’s App Store update showed $1.4 trillion in sales and billings last year, reinforcing the scale of its Services ecosystem even as most transactions did not carry a commission. Apple touts $1.4 trillion in App Store billings and sales, 90% without a commission
• Positive Sentiment: Foxconn raised its second-quarter outlook, a constructive signal for Apple’s supply chain and iPhone demand, since Foxconn is Apple’s top iPhone assembler. Taiwan's Foxconn raises guidance for second-quarter outlook
• Neutral Sentiment: Reports that Apple may rely on Google cloud infrastructure and Nvidia chips to power a redesigned Siri suggest the company is prioritizing speed to market, but they also underscore that Apple is leaning on outside partners for its AI push. Apple Taps Google to Prep Siri For September Revamp
• Negative Sentiment: Some coverage warns that Apple still faces a high bar to justify its valuation, and UBS noted decelerating App Store growth could pressure the Services growth story if AI execution disappoints. Investors Should Worry About Apple’s (AAPL) Decelerating App Store Growth, Says UBS

Insider Transactions at Apple

In other news, insider Ben Borders sold 1,274 shares of the firm's stock in a transaction that occurred 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 owned 38,713 shares in the company, valued at $11,226,770. This trade represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kevan Parekh sold 1,534 shares of the firm's stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the transaction, the chief financial officer owned 13,366 shares in the company, valued at approximately $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. In the last ninety days, insiders have sold 97,759 shares of company stock worth $24,964,305. 0.06% of the stock is owned by insiders.

Apple Stock Down 1.2%

Shares of AAPL opened at $307.34 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 12 month low of $195.07 and a 12 month high of $316.94. The stock's 50 day moving average is $281.39 and its two-hundred day moving average is $271.37. The firm has a market cap of $4.51 trillion, a P/E ratio of 37.16, a PEG ratio of 2.68 and a beta of 1.09.

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

Apple Increases Dividend

The firm also recently disclosed 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 is an increase from Apple's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.4%. Apple's dividend payout ratio 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.

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