Apple Inc. $AAPL is First Horizon Corp's 2nd Largest Position

Key Points

• First Horizon Corp increased its Apple stake by 9.9% in Q1, ending with 273,381 shares worth about $69.4 million. Apple is now the fund’s 2nd largest holding and makes up 2.9% of its portfolio.
• Apple continues to attract major institutional interest, with several other funds also boosting positions, while 67.73% of the company’s stock is owned by institutions and hedge funds.
• Despite positive analyst coverage and strong earnings results, Apple still faces some pressure from a $634 million Apple Watch patent verdict and concerns that its valuation may be stretched.

First Horizon Corp boosted its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 9.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 273,381 shares of the iPhone maker's stock after acquiring an additional 24,637 shares during the quarter. Apple comprises 2.9% of First Horizon Corp's holdings, making the stock its 2nd largest holding. First Horizon Corp's holdings in Apple were worth $69,381,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Overbrook Management Corp boosted its stake in Apple by 57.4% in the 4th quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker's stock worth $28,449,000 after purchasing an additional 38,174 shares in the last quarter. Rainier Family Wealth Inc. increased its stake in Apple by 14.1% during the 1st quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker's stock valued at $6,189,000 after purchasing an additional 3,014 shares in the last quarter. Torren Management LLC purchased a new position in shares of Apple in the fourth quarter worth $1,178,000. Summit Wealth Partners LLC raised its holdings in shares of Apple by 108.3% in the first quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker's stock worth $8,880,000 after buying an additional 18,188 shares during the last quarter. Finally, Adventist Health System Sunbelt Healthcare Corp acquired a new stake in shares of Apple during the fourth quarter worth $105,482,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In other Apple news, insider Ben Borders sold 116 shares of the company's stock in a transaction 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 transaction, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is currently owned by corporate insiders.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Ford will integrate Apple Maps and Apple software into upcoming lower-cost EVs and self-driving features, expanding Apple’s automotive footprint and creating another potential platform for its services ecosystem. Ford Will Use Apple Software in New Self-Driving System
• Positive Sentiment: Reports that Apple is preparing a smarter shopping assistant for the App Store and testing a more AI-driven buying experience suggest new ways to improve commerce, engagement, and monetization across its ecosystem. Apple Tests Smarter Shopping Experience
• Positive Sentiment: Wall Street sentiment remains constructive in places, with Morgan Stanley reportedly raising its Apple target and several pieces arguing Apple could be an underappreciated AI beneficiary as it readies new Macs, iMacs, and other hardware built for AI demand. Apple Plans To Overhaul Computers to Meet AI Demand
• Neutral Sentiment: Samsung’s new foldables and the broader “AI hardware” race are keeping Apple in the spotlight, but the news is mostly competitive context rather than a direct near-term catalyst.
• Negative Sentiment: Apple lost a key court bid, leaving a $634 million Apple Watch blood-oxygen patent verdict in place, which keeps legal overhangs alive and could raise investor concern about additional costs or product restrictions. Apple Fails to Overturn $634 Million Masimo Verdict
• Negative Sentiment: Multiple market notes point to Apple’s valuation being rich and the stock being vulnerable to volatility into earnings, with some analysts warning that momentum may be peaking after a strong run.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Royal Bank Of Canada set a $365.00 price objective on Apple in a research note on Wednesday, July 15th. Monness Crespi & Hardt raised their price target on shares of Apple from $315.00 to $335.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Sanford C. Bernstein reissued an "outperform" rating on shares of Apple in a research report on Monday, June 8th. UBS Group set a $365.00 price objective on shares of Apple in a report on Tuesday. Finally, BNP Paribas Exane upgraded shares of Apple from a "neutral" rating to an "outperform" rating and set a $300.00 price objective on the stock in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Apple has a consensus rating of "Moderate Buy" and a consensus price target of $326.83.

Apple Trading Down 1.3%

Shares of NASDAQ:AAPL opened at $321.66 on Friday. The business's 50 day moving average price is $305.96 and its 200-day moving average price is $278.63. Apple Inc. has a 1 year low of $201.50 and a 1 year high of $334.99. The firm has a market capitalization of $4.72 trillion, a price-to-earnings ratio of 38.89, a price-to-earnings-growth ratio of 2.81 and a beta of 1.10. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data 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. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company had revenue of $111.18 billion during the quarter, compared to analysts' expectations of $109.46 billion. During the same quarter in the prior year, the company earned $1.65 EPS. Apple's revenue was up 16.6% compared to the same quarter last year. On average, equities research analysts forecast that Apple Inc. will post 8.76 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently announced 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 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 of this dividend was Monday, May 11th. Apple's 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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