Apple Inc. $AAPL Shares Sold by Sterling Capital Management LLC

Key Points

• Sterling Capital Management reduced its Apple stake by 30.7% in the first quarter, selling 198,618 shares and leaving it with 448,175 shares worth about $113.7 million.
• Apple’s recent updates point to a potentially stronger product cycle, with reports saying the company is planning at least five new iPhone models through early 2027 and pushing further into foldables.
• The stock continues to draw mixed signals: Apple posted better-than-expected quarterly earnings and revenue, but investors remain watchful over memory-chip shortages, higher component costs, and margin pressure.

Sterling Capital Management LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 30.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 448,175 shares of the iPhone maker's stock after selling 198,618 shares during the period. Apple comprises about 2.2% of Sterling Capital Management LLC's portfolio, making the stock its 5th biggest position. Sterling Capital Management LLC's holdings in Apple were worth $113,742,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Isthmus Partners LLC lifted its holdings in Apple by 6.4% during the 3rd quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker's stock worth $25,000 after buying an additional 5,808 shares in the last quarter. Lifetime Wealth Management P.C. acquired a new position in shares of Apple in the fourth quarter worth $41,000. ROSS JOHNSON & Associates LLC increased its position in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after acquiring an additional 180 shares during the period. LSV Asset Management purchased a new stake in shares of Apple during the fourth quarter worth $65,000. Finally, Timmons Wealth Management LLC acquired a new stake in shares of Apple in the fourth quarter valued at $69,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple News Roundup

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 Activity at Apple

In related news, insider Ben Borders sold 116 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of the company's stock in a transaction that occurred on 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 2,924 shares of company stock valued at $825,546. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $308.63 on Monday. The firm has a market capitalization of $4.53 trillion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 2.68 and a beta of 1.10. The business's fifty day moving average price is $295.25 and its 200 day moving average price is $273.84. 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 12 month low of $201.50 and a 12 month high of $317.40.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 in the previous year, the business earned $1.65 EPS. On average, sell-side analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently announced 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 is a boost from Apple's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. Apple's dividend payout ratio is 13.06%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. TD Cowen lifted their target price on Apple from $335.00 to $350.00 and gave the company a "buy" rating in a report on Tuesday, June 9th. Morgan Stanley reaffirmed an "overweight" rating on shares of Apple in a research report on Friday, June 26th. Rosenblatt Securities reiterated a "neutral" rating and issued a $276.00 price objective on shares of Apple in a research note on Tuesday, June 9th. Jefferies Financial Group restated a "hold" rating on shares of Apple in a research note on Tuesday, June 9th. Finally, BNP Paribas Exane raised shares of Apple from a "neutral" rating to an "outperform" rating and set a $300.00 target price on the stock in a report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $314.85.

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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