Apple Inc. $AAPL Shares Sold by Smithbridge Asset Management Inc. DE

Key Points

• Smithbridge Asset Management cut its Apple stake by 41.4% in the first quarter, selling 92,474 shares and leaving it with 130,729 shares worth about $33.2 million. Apple remains the firm’s largest holding at roughly 4.9% of its portfolio.
• Insider selling continued, with CFO Kevan Parekh and insider Ben Borders both selling shares in recent months. Overall, insiders sold 2,924 shares over the last quarter, though insider ownership remains very small at 0.06%.
• Analysts remain bullish on Apple despite mixed headlines, with a consensus rating of “Moderate Buy” and an average price target of $316.32. Recent commentary highlighted record stock highs, stronger iPhone demand, and an increased price target from Citi to $365.

Smithbridge Asset Management Inc. DE trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 41.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 130,729 shares of the iPhone maker's stock after selling 92,474 shares during the period. Apple comprises about 4.9% of Smithbridge Asset Management Inc. DE's portfolio, making the stock its biggest position. Smithbridge Asset Management Inc. DE's holdings in Apple were worth $33,178,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Apple in the fourth quarter valued at $52,266,468,000. Nuveen LLC acquired a new stake in shares of Apple during the first quarter worth about $17,472,482,000. Cardano Risk Management B.V. boosted its stake in shares of Apple by 890.7% during the fourth quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker's stock worth $11,413,990,000 after buying an additional 37,746,784 shares during the period. Laurel Wealth Advisors LLC grew its holdings in shares of Apple by 20,464.8% during the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker's stock worth $5,553,753,000 after buying an additional 26,937,401 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Apple by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock worth $387,749,545,000 after buying an additional 26,856,752 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Buying and Selling

In related news, CFO Kevan Parekh sold 1,534 shares of the firm's stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the transaction, the chief financial officer directly owned 13,366 shares of the company's stock, valued at $3,675,650. This trade represents a 10.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ben Borders sold 116 shares of Apple stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the transaction, the insider directly owned 38,713 shares of the company's stock, valued at approximately $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 2,924 shares of company stock valued at $825,546. Insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on AAPL shares. KeyCorp reaffirmed a "sector weight" rating on shares of Apple in a research note on Tuesday, June 9th. BNP Paribas Exane upgraded Apple from a "neutral" rating to an "outperform" rating and set a $300.00 target price on the stock in a research note on Friday, April 17th. Wells Fargo & Company reissued an "overweight" rating and issued a $310.00 target price (up from $300.00) on shares of Apple in a report on Friday, May 1st. DA Davidson restated a "neutral" rating and set a $270.00 price target on shares of Apple in a research note on Friday, May 1st. Finally, Bank of America reaffirmed a "buy" rating and set a $380.00 price target on shares of Apple in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $316.32.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Citi raised its price target on Apple to $365 from $315 and kept a Buy rating, saying Apple should keep gaining market share and may benefit from premium iPhone demand, selective price increases, and an upcoming iPhone 18 launch as a catalyst. Article Title
• Positive Sentiment: Several reports highlighted Apple’s stock hitting record highs, with analysts arguing the company is benefiting from relative restraint on AI spending versus peers and that investors still see more upside after the recent rally. Article Title
• Positive Sentiment: Apple was also tied to a reported acquisition of open-source observability developer SigScalr, which could support its internal data and software tooling efforts. Article Title
• Neutral Sentiment: News that Apple sued OpenAI over alleged trade-secret theft is generating headlines and could help Apple strategically if it protects future AI hardware plans, but it also adds legal uncertainty and keeps pressure on the company’s AI narrative. Article Title
• Neutral Sentiment: Commentary around Apple’s AI strategy, including reports that it may accelerate chip releases, reflects investor focus on whether the company can keep up in AI-enabled hardware without ramping spending as aggressively as rivals. Article Title
• Negative Sentiment: The OpenAI lawsuit could intensify Apple’s legal battles, including renewed scrutiny of App Store fees and broader competitive risks, which may create headline volatility even if the core business remains strong. Article Title

Apple Stock Performance

Shares of AAPL opened at $317.31 on Tuesday. The company has a 50-day simple moving average of $300.47 and a 200-day simple moving average of $275.60. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $4.66 trillion, a PE ratio of 38.37, a P/E/G ratio of 2.74 and a beta of 1.10. Apple Inc. has a 52-week low of $201.50 and a 52-week high of $323.45.

Apple (NASDAQ:AAPL - Get Free Report) last announced 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 analysts' expectations of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.65 earnings per share. Equities research analysts predict that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, May 11th. This is a positive change 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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