Apple Inc. $AAPL Stake Trimmed by CI Investments Inc.

Key Points

• CI Investments trimmed its Apple stake by 1.1% in the first quarter, selling 27,119 shares and retaining 2.33 million shares valued at approximately $592.5 million. Apple remains the firm’s sixth-largest holding and represents 2.9% of its portfolio.
• Institutional investors own 67.73% of Apple’s outstanding shares, while several other investment firms recently initiated or increased positions.
• Apple’s latest quarter exceeded expectations, with EPS of $2.02 and revenue of $109.42 billion, up 16.4% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $330.44.

CI Investments Inc. reduced its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,334,524 shares of the iPhone maker's stock after selling 27,119 shares during the period. Apple comprises 2.9% of CI Investments Inc.'s investment portfolio, making the stock its 6th biggest position. CI Investments Inc.'s holdings in Apple were worth $592,479,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Lifetime Wealth Management P.C. purchased a new stake in Apple in the 4th quarter worth about $41,000. ROSS JOHNSON & Associates LLC lifted its holdings in Apple by 1,800.0% during the first 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 during the last quarter. LSV Asset Management purchased a new stake in Apple during the fourth quarter valued at about $65,000. Timmons Wealth Management LLC bought a new position in Apple during the fourth quarter worth about $69,000. Finally, Inspire Investing LLC bought a new position in Apple during the fourth quarter worth about $76,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Planned CEO transition appears orderly. Tim Cook will step down in September and be succeeded by longtime Apple executive John Ternus, a veteran with experience dating back to the Steve Jobs era. Cook’s endorsement and Ternus’ familiarity with Apple’s products may reduce concerns about strategic disruption. Tim Cook Says There’s ‘No Better Person’ to Take Over at Apple
• Positive Sentiment: Core business momentum remains strong. Apple’s latest quarter exceeded earnings and revenue expectations, with revenue up roughly 16% year over year. Broad iPhone, Mac and Services demand continues to support the bullish case. Tim Cook's Last Quarter as CEO Was Apple's Best June Quarter Ever
• Positive Sentiment: App Store monetization is holding up. App Store revenue increased slightly despite a 4% decline in iPhone and iPad downloads, as revenue per download rose 4.7%. This suggests continued pricing and engagement resilience in a key Services business. Apple App Store Revenue Ticks Up Despite Falling Downloads
• Neutral Sentiment: OpenAI is seeking dismissal of Apple’s trade-secrets lawsuit. OpenAI denies misappropriating confidential information related to Apple’s consumer-hardware efforts. The filing does not resolve the dispute, leaving legal and competitive uncertainty in place. OpenAI Seeks Dismissal of Apple's Trade Secrets Lawsuit
• Negative Sentiment: Near-term cost and growth pressures are weighing on sentiment. Rising memory prices, supply constraints and policy risks could pressure margins, while slower Services growth has prompted some firms to downgrade Apple to Hold or Moderate Sell. Apple's Capex Strategy Worked But Other Pressures Are Mounting
• Negative Sentiment: Competition in emerging hardware is increasing. Samsung reported a 30% rise in foldable-device preorders, highlighting a market Apple has yet to enter. Investors may view future Apple foldables as an opportunity, but execution and timing remain uncertain. Samsung Foldable Preorders Jump 30%

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Bank of America reissued a "buy" rating and issued a $380.00 price target on shares of Apple in a research report on Thursday, June 18th. JPMorgan Chase & Co. reduced their price objective on shares of Apple from $345.00 to $340.00 and set an "overweight" rating for the company in a research note on Friday, July 31st. Morgan Stanley lowered their target price on shares of Apple from $364.00 to $360.00 and set an "overweight" rating on the stock in a report on Friday, July 31st. Evercore restated an "outperform" rating on shares of Apple in a research report on Wednesday, July 8th. Finally, Robert W. Baird raised their price target on Apple from $310.00 to $330.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $330.44.

Apple Stock Performance

Apple stock opened at $313.33 on Friday. Apple Inc. has a 1-year low of $219.25 and a 1-year high of $344.57. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $4.57 trillion, a PE ratio of 35.93, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. The firm's 50 day simple moving average is $309.45 and its 200 day simple moving average is $283.23.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.13. The firm had revenue of $109.42 billion during the quarter, compared to analyst estimates of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The business's revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.57 EPS. As a group, analysts expect that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be 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 is Monday, August 10th. Apple's payout ratio is presently 12.39%.

Insiders Place Their Bets

In other Apple news, insider Ben Borders sold 116 shares of the company's stock in a transaction dated 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 in the company, valued at $11,425,754.82. This represents a 0.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is owned by corporate insiders.

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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