Apple Inc. $AAPL is Van Cleef Asset Management Inc's 2nd Largest Position

Key Points

• Van Cleef Asset Management trimmed its Apple stake by 1.6% in Q1, but Apple still remains its second-largest position, representing about 11.4% of the firm’s holdings.
• Apple has continued to attract bullish analyst sentiment, with Baird raising its price target and reiterating an Outperform rating; overall, the stock carries a Moderate Buy consensus and a $327.40 average target.
• The company’s recent fundamentals remain strong, with last quarter’s earnings and revenue both beating estimates, while Apple also raised its quarterly dividend to $0.27 per share.

Van Cleef Asset Management Inc lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 418,867 shares of the iPhone maker's stock after selling 6,891 shares during the period. Apple accounts for approximately 11.4% of Van Cleef Asset Management Inc's holdings, making the stock its 2nd biggest position. Van Cleef Asset Management Inc's holdings in Apple were worth $106,304,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Lifetime Wealth Management P.C. bought a new position in shares of Apple during the fourth quarter valued at approximately $41,000. ROSS JOHNSON & Associates LLC grew its stake in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after buying an additional 180 shares during the last quarter. LSV Asset Management purchased a new stake in shares of Apple in the 4th quarter worth approximately $65,000. Timmons Wealth Management LLC bought a new position in Apple during the 4th quarter valued at approximately $69,000. Finally, Inspire Investing LLC bought a new position in Apple during the 4th quarter valued at approximately $76,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Ford said it will embed Apple Maps into upcoming EVs, expanding Apple’s software reach and reinforcing the value of its ecosystem. Ford Embeds Apple Maps Directly into Upcoming EVs
• Positive Sentiment: Baird raised its price target on Apple and reiterated an Outperform rating, adding to bullish analyst momentum. Finviz
• Positive Sentiment: Commentary highlighted Apple as outperforming the broader market, supported by strong ratings and a favorable chart setup ahead of earnings. Why is Apple stock outperforming the broader market?
• Neutral Sentiment: Apple was also the subject of discussion around upcoming product launches, AI features, and a possible device-leasing program, which could support demand but remain unconfirmed or longer-term in nature.
• Negative Sentiment: Some reports noted concerns that Apple’s valuation is stretched heading into earnings, and insider sales plus short-interest chatter may temper enthusiasm if results disappoint.

Wall Street Analyst Weigh In

AAPL has been the topic of several analyst reports. Rosenblatt Securities reissued a "neutral" rating and issued a $276.00 target price on shares of Apple in a report on Tuesday, June 9th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Apple in a research report on Tuesday, June 9th. Tigress Financial reissued a "strong-buy" rating and set a $375.00 price objective (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. KGI Securities lowered shares of Apple from an "outperform" rating to a "hold" rating and set a $315.00 price objective for the company. in a research note on Monday, June 22nd. Finally, Evercore reiterated an "outperform" rating on shares of Apple in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Apple presently has an average rating of "Moderate Buy" and a consensus price target of $327.40.

Apple Trading Up 3.5%

Shares of NASDAQ:AAPL opened at $333.02 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. Apple Inc. has a 1 year low of $201.50 and a 1 year high of $334.99. The company has a market cap of $4.89 trillion, a P/E ratio of 40.27, a PEG ratio of 2.88 and a beta of 1.10. The stock's fifty day moving average price is $306.62 and its 200-day moving average price is $279.01.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. The company had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.Apple's revenue for the quarter was up 16.6% on a year-over-year basis. During the same period last year, the company earned $1.65 EPS. Sell-side analysts expect that Apple Inc. will post 8.76 earnings per share for the current year.

Apple Increases Dividend

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

Insiders Place Their Bets

In related news, insider Ben Borders sold 1,274 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the transaction, the insider owned 38,713 shares in the company, valued at $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by company 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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