Apple Inc. $AAPL Stake Cut by Northeast Investment Management

Key Points

• Northeast Investment Management reduced its Apple stake by 2.9% in the first quarter, selling 18,434 shares and leaving it with 620,176 shares valued at about $157.4 million.
• Apple continues to attract mixed institutional and insider activity: hedge funds still own 67.73% of the stock, while insiders sold a total of 2,924 shares over the last three months.
• The company reported strong recent results, with Q2 earnings of $2.01 per share beating estimates and revenue rising 16.6% year over year; analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $314.85.

Northeast Investment Management lessened its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 620,176 shares of the iPhone maker's stock after selling 18,434 shares during the quarter. Apple comprises about 6.5% of Northeast Investment Management's investment portfolio, making the stock its 2nd biggest position. Northeast Investment Management's holdings in Apple were worth $157,394,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Isthmus Partners LLC increased its position 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 purchasing an additional 5,808 shares in the last quarter. Lifetime Wealth Management P.C. purchased a new position in Apple in the 4th quarter valued at about $41,000. ROSS JOHNSON & Associates LLC lifted its holdings in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after purchasing an additional 180 shares in the last quarter. LSV Asset Management acquired a new stake in shares of Apple during the 4th quarter worth about $65,000. Finally, Timmons Wealth Management LLC acquired a new stake in shares of Apple during the 4th quarter worth about $69,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In related news, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction 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 transaction, the chief financial officer owned 13,366 shares in the company, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ben Borders sold 116 shares of the business's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the sale, the insider directly owned 38,713 shares of the company's stock, valued at approximately $11,425,754.82. This trade represents a 0.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 2,924 shares of company stock valued at $825,546 over the last three months. Corporate insiders own 0.06% of the company's stock.

Key Apple News

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

Apple Stock Performance

Shares of AAPL stock opened at $308.63 on Friday. The firm's 50-day simple moving average is $295.25 and its 200-day simple moving average is $273.85. 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 1-year low of $201.50 and a 1-year high of $317.40. The firm has a market cap of $4.53 trillion, a P/E ratio of 37.32, a PEG ratio of 2.68 and a beta of 1.10.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results 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. The firm had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. Apple's revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.65 earnings per share. As a group, equities analysts forecast that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a dividend of $0.27 per share. 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%. This is a boost from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio is presently 13.06%.

Analyst Ratings Changes

AAPL has been the subject of a number of analyst reports. Morgan Stanley reissued an "overweight" rating on shares of Apple in a research report on Friday, June 26th. Wells Fargo & Company restated an "overweight" rating and set a $310.00 target price (up from $300.00) on shares of Apple in a research report on Friday, May 1st. Oppenheimer reaffirmed a "market perform" rating on shares of Apple in a research note on Tuesday, June 9th. Maxim Group reiterated a "buy" rating and issued a $350.00 price target (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. Finally, Wedbush reissued an "outperform" rating and set a $400.00 price target on shares of Apple in a research note on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $314.85.

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.

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