Apple Inc. $AAPL Shares Sold by World Investment Advisors

Key Points

• World Investment Advisors trimmed its Apple stake by 0.8% in the first quarter, but Apple remains its largest holding at 3.6% of portfolio assets, worth about $220.8 million.
• Apple continues to benefit from positive AI-related developments, including China’s approval of Apple Intelligence, reported interest in AI chip acquisitions, and a potential $30 billion Broadcom partnership tied to custom silicon and supply-chain security.
• The stock has been moving near record highs, but sentiment is mixed: Apple beat quarterly earnings and raised its dividend, while KeyBanc recently downgraded the shares over growth and valuation concerns.

World Investment Advisors reduced its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 870,139 shares of the iPhone maker's stock after selling 7,047 shares during the period. Apple accounts for about 3.6% of World Investment Advisors' portfolio, making the stock its largest holding. World Investment Advisors' holdings in Apple were worth $220,832,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. Overbrook Management Corp increased its position in Apple by 57.4% during the 4th quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker's stock worth $28,449,000 after buying an additional 38,174 shares during the period. Rainier Family Wealth Inc. boosted its position in shares of Apple by 14.1% in the first quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker's stock valued at $6,189,000 after acquiring an additional 3,014 shares during the period. Torren Management LLC bought a new stake in shares of Apple in the fourth quarter valued at about $1,178,000. Summit Wealth Partners LLC grew its stake 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 acquiring an additional 18,188 shares in the last quarter. Finally, Adventist Health System Sunbelt Healthcare Corp acquired a new position in shares of Apple in the fourth quarter valued at about $105,482,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: China approved Apple Intelligence for iPhones, a key regulatory green light that clears the way for Apple’s AI rollout in one of its most important markets and could help support upgrades and Services growth. Reuters: Apple Intelligence AI service registered with China's cyberspace regulator
• Positive Sentiment: Reports that Apple is exploring acquisitions of AI chip startups to strengthen its server and AI hardware capabilities reinforced the idea that the company is actively investing to remain competitive in AI without a huge data-center spending spree. Reuters: Apple chasing AI chip company deals, The Information reports
• Positive Sentiment: News that Apple may spend about $30 billion through its Broadcom partnership adds confidence in supply-chain security and custom silicon development, which investors see as supportive for future product cycles and margins. Yahoo Finance/Reuters: Apple Plans to Spend $30 Billion in a Deal With Broadcom (AVGO)
• Positive Sentiment: Apple also won dismissal of a high-stakes iCloud-related lawsuit, removing an overhang and improving sentiment around legal risk. Yahoo Finance: Apple Wins Dismissal of iCloud Lawsuit
• Neutral Sentiment: Several media and analyst pieces noted Apple’s stock hitting record highs and trading near a new 52-week high, reflecting strong momentum after a sharp run-up rather than a fresh fundamental surprise. Investopedia: Apple Could Buy an AI Chip Company. Its Hot Stock Just Set a Fresh Record High
• Negative Sentiment: KeyBanc downgraded Apple to Underweight, warning that slowing hardware demand, softer Services growth, and valuation concerns could limit further upside. Yahoo Finance: KeyBanc Downgrades Apple on Growth Concerns

Insider Buying and Selling at Apple

In other news, CFO Kevan Parekh sold 1,534 shares of the business's stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the completion of the transaction, the chief financial officer owned 13,366 shares of the company's stock, valued at approximately $3,675,650. The trade was a 10.30% decrease in their position. The transaction 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 company's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the sale, the insider owned 38,713 shares of the company's stock, valued at approximately $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 2,924 shares of company stock worth $825,546. Corporate insiders own 0.06% of the company's stock.

Apple Stock Performance

Shares of Apple stock opened at $327.50 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The company has a market cap of $4.81 trillion, a PE ratio of 39.60, a price-to-earnings-growth ratio of 2.74 and a beta of 1.10. The company has a 50 day moving average of $301.89 and a 200-day moving average of $276.27. Apple Inc. has a 1-year low of $201.50 and a 1-year high of $328.73.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating 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 business 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 firm's quarterly revenue was up 16.6% compared to the same quarter last year. As a group, equities research analysts forecast that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a $0.27 dividend. This represents a $1.08 annualized dividend 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 dividend payout ratio is 13.06%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AAPL. BNP Paribas Exane upgraded shares of Apple from a "neutral" rating to an "outperform" rating and set a $300.00 price objective for the company in a research note on Friday, April 17th. Jefferies Financial Group restated a "hold" rating on shares of Apple in a research report on Tuesday, June 9th. Evercore reaffirmed an "outperform" rating on shares of Apple in a report on Wednesday, July 8th. Robert W. Baird set a $310.00 price target on shares of Apple in a research report on Friday, May 1st. Finally, Citigroup reiterated a "buy" rating and issued a $365.00 price target (up from $315.00) on shares of Apple in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $314.26.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.