Apple Inc. $AAPL Shares Sold by ABN AMRO Bank N.V.

Key Points

• ABN AMRO Bank N.V. reduced its Apple stake by 6.5% in the first quarter, selling 56,676 shares and leaving it with 816,448 shares valued at about $207.2 million.
• Apple continues to attract strong institutional interest overall, with hedge funds and other investors owning 67.73% of the company’s stock despite some mixed positioning and recent selling by a few holders.
• Operationally, Apple recently beat earnings and revenue estimates, and analysts still view the stock favorably overall, with a Moderate Buy consensus and a target price of $314.85.

ABN AMRO Bank N.V. cut its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 816,448 shares of the iPhone maker's stock after selling 56,676 shares during the period. Apple accounts for about 2.2% of ABN AMRO Bank N.V.'s portfolio, making the stock its 12th largest holding. ABN AMRO Bank N.V.'s holdings in Apple were worth $207,239,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Lifetime Wealth Management P.C. purchased a new stake in Apple during the 4th quarter worth about $41,000. ROSS JOHNSON & Associates LLC grew its holdings in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after acquiring an additional 180 shares in the last quarter. Timmons Wealth Management LLC purchased a new stake in shares of Apple in the 4th quarter valued at approximately $69,000. LSV Asset Management acquired a new stake in shares of Apple in the 4th quarter valued at $65,000. Finally, Inspire Investing LLC acquired a new stake in shares of Apple in the 4th quarter valued at $76,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Reports that Apple plans at least five new iPhone models through early 2027, including a stronger foldable iPhone push, have reinforced expectations for a fresh product cycle and a longer growth runway. Apple plans five new iPhones through 2027, eyes Chinese-made chips amid foldable push, reports say
• Positive Sentiment: Apple also appears to be benefiting from investor optimism that it can navigate the memory-chip shortage and secure supply, including possible deals with lower-cost Chinese chipmakers, which could help protect future production. Apple negotiates with blacklisted Chinese chipmakers amid AI-driven memory crunch
• Positive Sentiment: Several market commentary pieces said Apple is holding up better than the broader tech sector, with traders viewing recent weakness as a buying opportunity and analysts still pointing to solid upside potential. Apple’s Aggressive Price Hikes Raise Eyebrows As Wall Street Links AI Chip Shortages To Inflation Pressure
• Neutral Sentiment: Apple’s recent price hikes on Macs and iPads are being interpreted two ways: as a sign of inflationary component costs, but also as a margin-protection move that may not hurt demand as much as feared. Jim Cramer’s Latest Thought on Apple Inc. (AAPL)
• Neutral Sentiment: Apple’s insider-selling activity and mixed institutional positioning are adding caution, but they are not the main driver of the stock today. Apple Stock (AAPL) Opinions on Recent Price Hikes and Analyst Views
• Negative Sentiment: Some coverage continues to flag pressure on Apple’s margins and demand if higher component costs force more price increases, which could weigh on sentiment over time. Is Apple stock in trouble? Rising costs threaten margins, demand

Insider Buying and Selling at Apple

In other news, CFO Kevan Parekh sold 1,534 shares of the company's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the sale, the chief financial officer directly owned 13,366 shares of the company's stock, valued at approximately $3,675,650. This represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ben Borders sold 1,274 shares of the 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 position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,924 shares of company stock worth $825,546 over the last three months. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AAPL has been the subject of a number of analyst reports. Robert W. Baird set a $310.00 target price on shares of Apple in a research note on Friday, May 1st. TD Cowen raised their price target on Apple from $335.00 to $350.00 and gave the company a "buy" rating in a research note on Tuesday, June 9th. Citigroup restated a "buy" rating on shares of Apple in a research note on Monday, June 1st. Rosenblatt Securities reaffirmed a "neutral" rating and set a $276.00 price target on shares of Apple in a report on Tuesday, June 9th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $314.85.

Apple Price Performance

Shares of NASDAQ AAPL opened at $308.63 on Monday. The stock has a market cap of $4.53 trillion, a P/E ratio of 37.32, a P/E/G ratio of 2.68 and a beta of 1.10. Apple Inc. has a twelve month low of $201.50 and a twelve month high of $317.40. The stock has a 50 day moving average of $295.25 and a two-hundred day moving average of $273.84. 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 (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.06. The business had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the firm posted $1.65 earnings per share. On average, research analysts forecast that Apple Inc. will post 8.74 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. Shareholders of record on Monday, May 11th were given 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 an increase from Apple's previous quarterly dividend of $0.26. Apple's payout ratio is 13.06%.

Apple 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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