Apple Inc. $AAPL Shares Purchased by General American Investors Co. Inc.

Key Points

• General American Investors Co. Inc. increased its Apple stake by 17.7% in the first quarter, buying 40,000 additional shares and bringing its holdings to 265,705 shares worth about $67.4 million.
• Apple reported strong quarterly results, with earnings of $2.01 per share and revenue of $111.18 billion, both ahead of analyst expectations. Revenue rose 16.6% year over year, and analysts now expect full-year EPS of 8.76.
• Apple also raised its quarterly dividend to $0.27 per share from $0.26, while analysts remain broadly constructive on the stock with a consensus Moderate Buy rating and an average price target of $327.40.

General American Investors Co. Inc. lifted its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 17.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 265,705 shares of the iPhone maker's stock after purchasing an additional 40,000 shares during the quarter. Apple makes up about 4.4% of General American Investors Co. Inc.'s investment portfolio, making the stock its 6th largest position. General American Investors Co. Inc.'s holdings in Apple were worth $67,433,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds 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 valued at $28,449,000 after buying an additional 38,174 shares in the last quarter. Rainier Family Wealth Inc. increased its holdings in shares of Apple by 14.1% during the first quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker's stock worth $6,189,000 after buying an additional 3,014 shares in the last quarter. Torren Management LLC bought a new position in Apple in the 4th quarter valued at $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 valued at $8,880,000 after buying an additional 18,188 shares during the last quarter. Finally, Adventist Health System Sunbelt Healthcare Corp bought a new position in shares of Apple in the fourth quarter worth about $105,482,000. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Up 3.5%

Shares of NASDAQ:AAPL opened at $333.02 on Friday. The company has a 50 day moving average price of $306.62 and a two-hundred day moving average price of $279.01. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The company has a market capitalization of $4.89 trillion, a PE ratio of 40.27, a PEG ratio of 2.88 and a beta of 1.10. Apple Inc. has a 52 week low of $201.50 and a 52 week high of $334.99.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $109.46 billion. During the same period last year, the firm posted $1.65 earnings per share. The business's quarterly revenue was up 16.6% compared to the same quarter last year. Analysts forecast that Apple Inc. will post 8.76 earnings per share for the current year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors 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%. The ex-dividend date of this dividend was Monday, May 11th. This is a boost from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio (DPR) is 13.06%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AAPL. Jefferies Financial Group reissued a "hold" rating on shares of Apple in a research note on Tuesday, June 9th. Morgan Stanley set a $364.00 price objective on shares of Apple and gave the stock an "overweight" rating in a research report on Thursday. Raymond James Financial set a $380.00 price objective on Apple in a report on Monday, July 20th. HSBC upgraded Apple from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $260.00 to $366.00 in a research report on Thursday, July 16th. Finally, Tigress Financial reaffirmed a "strong-buy" rating and set a $375.00 target price (up from $305.00) on shares of Apple in a report on Thursday, May 14th. One research 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $327.40.

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.

Insiders Place Their Bets

In other news, insider Ben Borders sold 1,274 shares of the firm's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the sale, the insider owned 38,713 shares of the company's stock, valued at $11,226,770. This trade represents a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.06% of the company's stock.

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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