Apple Inc. $AAPL is Global Endowment Management LP's 9th Largest Position

Key Points

• Global Endowment Management LP increased its Apple stake by 2.9% in the fourth quarter, bringing its holdings to 79,258 shares worth about $21.5 million. Apple is now the fund’s 9th-largest position and represents 2.7% of its portfolio.
• Apple reported strong quarterly results, with EPS of $2.01 beating estimates and revenue of $111.18 billion topping expectations. Revenue rose 16.6% year over year, and analysts expect full-year EPS of 8.75.
• The company raised its quarterly dividend to $0.27 per share from $0.26, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average target price of $314.59.

Global Endowment Management LP grew its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,258 shares of the iPhone maker's stock after purchasing an additional 2,246 shares during the period. Apple makes up 2.7% of Global Endowment Management LP's portfolio, making the stock its 9th biggest holding. Global Endowment Management LP's holdings in Apple were worth $21,547,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AAPL. Overbrook Management Corp grew its position in Apple by 57.4% during the fourth quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker's stock valued at $28,449,000 after acquiring an additional 38,174 shares during the last quarter. Tufton Capital Management grew its position in Apple by 4.3% during the third quarter. Tufton Capital Management now owns 100,130 shares of the iPhone maker's stock valued at $25,496,000 after acquiring an additional 4,157 shares during the last quarter. Torren Management LLC bought a new position in Apple during the fourth quarter valued at approximately $1,178,000. KBC Group NV lifted its stake in Apple by 3.1% in the fourth quarter. KBC Group NV now owns 7,044,697 shares of the iPhone maker's stock worth $1,915,172,000 after purchasing an additional 214,215 shares during the last quarter. Finally, Adventist Health System Sunbelt Healthcare Corp bought a new stake in Apple in the fourth quarter worth $105,482,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Apple

In related news, CEO Timothy D. Cook sold 64,949 shares of the business's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the transaction, the chief executive officer owned 3,280,418 shares in the company, valued at $833,980,668.14. The trade was a 1.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Deirdre O'brien sold 30,002 shares of the business's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the transaction, the senior vice president owned 136,810 shares in the company, valued at $34,934,433.50. This represents a 17.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 97,759 shares of company stock worth $24,964,305 over the last ninety days. Corporate insiders own 0.06% of the company's stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $291.13 on Monday. The company has a market cap of $4.28 trillion, a price-to-earnings ratio of 35.20, a price-to-earnings-growth ratio of 2.53 and a beta of 1.09. The company has a 50-day moving average price of $285.64 and a 200-day moving average price of $272.25. 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 $317.40.

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. The firm had revenue of $111.18 billion during 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 company's quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.65 earnings per share. As a group, equities analysts anticipate that Apple Inc. will post 8.75 EPS for the current year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a dividend of $0.27 per share. This is an increase from Apple's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, May 11th. Apple's dividend payout ratio is presently 13.06%.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s Services business posted record revenue in the fiscal second quarter, supported by ecosystem growth, AI-related updates, and its huge installed device base. Apple Continues to Expand Services Business: What's the Path Ahead?
• Positive Sentiment: Several commentators said Apple still has strong fundamentals, including a solid balance sheet, loyal customer base, and products investors continue to love, which supports the long-term bull case. Jim Cramer on Apple: “It Still Has Products We All Love”
• Positive Sentiment: Analysts at Erste Group Bank raised their earnings estimates for Apple, signaling expectations for steady profit growth over the next two fiscal years. Apple earnings estimate update
• Neutral Sentiment: Apple’s WWDC announcements showed a clearer AI roadmap, including next-generation Siri features and device software updates, but the market appears to be waiting for stronger evidence that these changes will drive meaningful revenue growth. Apple Unveils Siri AI. Here's Why It's Not Impressing Investors
• Neutral Sentiment: Some coverage suggested Apple’s AI launch could help the stock over time, but it may take more than Siri upgrades alone to restore investor enthusiasm. Apple Just Gave Investors a Glimpse of Is AI Future at WWDC. It May Take More to Revive AAPL Stock.
• Negative Sentiment: Investors are worried Apple’s AI ambitions are colliding with a memory-cost crunch, creating pricing pressure that could weigh on margins. Apple Faces a No-Win Pricing Dilemma. Should Investors Be Worried?
• Negative Sentiment: Multiple reports say the market was disappointed that Apple’s Siri AI reveal did not feel like a big enough breakthrough to justify a sharper rerating of the stock. Apple's AI News Underwhelms. Siri AI Release Concerns Persist.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. TD Cowen boosted their price target on shares of Apple from $335.00 to $350.00 and gave the stock a "buy" rating in a research note on Tuesday, June 9th. Oppenheimer reissued a "market perform" rating on shares of Apple in a research note on Tuesday, June 9th. DA Davidson reissued a "neutral" rating and issued a $270.00 price target on shares of Apple in a research note on Friday, May 1st. Citigroup reissued a "buy" rating on shares of Apple in a research note on Monday, June 1st. Finally, Jefferies Financial Group reissued a "hold" rating 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-three have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $314.59.

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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