Apple Inc. $AAPL is Eagle Bay Advisors LLC's Largest Position

Key Points

• Eagle Bay Advisors LLC trimmed its Apple stake by 5.8% in the first quarter, but Apple remains its largest position at about 8.7% of the portfolio, worth roughly $9.88 million.
• Apple recently reported strong quarterly results, posting $2.01 EPS versus $1.95 expected and revenue of $111.18 billion, while also lifting its quarterly dividend to $0.27 per share.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $316.32, even as some recent reports highlight legal and AI-related uncertainty around the company.

Eagle Bay Advisors LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 5.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,947 shares of the iPhone maker's stock after selling 2,412 shares during the quarter. Apple accounts for approximately 8.7% of Eagle Bay Advisors LLC's portfolio, making the stock its largest position. Eagle Bay Advisors LLC's holdings in Apple were worth $9,884,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. First National Bank of Hutchinson raised its position in Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after purchasing an additional 6,982 shares in the last quarter. Eagle Capital Management LLC lifted its holdings in shares of Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after acquiring an additional 272 shares during the last quarter. Brighton Jones LLC lifted its holdings in shares of Apple by 14.8% in the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after acquiring an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after purchasing an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE increased its holdings in shares of Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock worth $12,587,000 after buying an additional 1,155 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Apple Price Performance

NASDAQ AAPL opened at $317.31 on Tuesday. Apple Inc. has a one year low of $201.50 and a one year high of $323.45. The stock has a 50-day moving average of $300.47 and a 200 day moving average of $275.60. The company has a market capitalization of $4.66 trillion, a price-to-earnings ratio of 38.37, a PEG ratio of 2.74 and a beta of 1.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07.

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

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a dividend of $0.27 per share. This is a boost from Apple's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. Apple's dividend payout ratio is presently 13.06%.

Insider Transactions at Apple

In related news, CFO Kevan Parekh sold 1,534 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $3,675,650. The trade was a 10.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ben Borders sold 116 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the transaction, the insider owned 38,713 shares of the company's stock, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 2,924 shares of company stock valued at $825,546. Company insiders own 0.06% of the company's stock.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Citi raised its price target on Apple to $365 from $315 and kept a Buy rating, saying Apple should keep gaining market share and may benefit from premium iPhone demand, selective price increases, and an upcoming iPhone 18 launch as a catalyst. Article Title
• Positive Sentiment: Several reports highlighted Apple’s stock hitting record highs, with analysts arguing the company is benefiting from relative restraint on AI spending versus peers and that investors still see more upside after the recent rally. Article Title
• Positive Sentiment: Apple was also tied to a reported acquisition of open-source observability developer SigScalr, which could support its internal data and software tooling efforts. Article Title
• Neutral Sentiment: News that Apple sued OpenAI over alleged trade-secret theft is generating headlines and could help Apple strategically if it protects future AI hardware plans, but it also adds legal uncertainty and keeps pressure on the company’s AI narrative. Article Title
• Neutral Sentiment: Commentary around Apple’s AI strategy, including reports that it may accelerate chip releases, reflects investor focus on whether the company can keep up in AI-enabled hardware without ramping spending as aggressively as rivals. Article Title
• Negative Sentiment: The OpenAI lawsuit could intensify Apple’s legal battles, including renewed scrutiny of App Store fees and broader competitive risks, which may create headline volatility even if the core business remains strong. Article Title

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Sanford C. Bernstein restated an "outperform" rating on shares of Apple in a research report on Monday, June 8th. KGI Securities cut Apple from an "outperform" rating to a "hold" rating and set a $315.00 target price on the stock. in a research note on Monday, June 22nd. Robert W. Baird set a $310.00 target price on Apple in a research note on Friday, May 1st. BNP Paribas Exane upgraded Apple from a "neutral" rating to an "outperform" rating and set a $300.00 target price for the company in a report on Friday, April 17th. Finally, Maxim Group restated a "buy" rating and set a $350.00 target price (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. 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 issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $316.32.

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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.