Apple Inc. $AAPL Stock Holdings Lifted by Plimoth Trust Co. LLC

Key Points

• Plimoth Trust Co. LLC increased its Apple stake by 1.6% in the first quarter, owning 107,787 shares worth about $27.4 million. Apple is now the fund’s largest position, making up 6.1% of its portfolio.
• Apple shares were trading near record highs, opening at $327.50 and up 4.0%, with a 52-week high of $328.73. The company’s market cap stood at about $4.81 trillion.
• Apple recently posted better-than-expected quarterly results, with EPS of $2.01 versus the $1.95 estimate and revenue of $111.18 billion, up 16.6% year over year. The company also raised its dividend to $0.27 per share from $0.26.

Plimoth Trust Co. LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 107,787 shares of the iPhone maker's stock after buying an additional 1,701 shares during the period. Apple accounts for 6.1% of Plimoth Trust Co. LLC's investment portfolio, making the stock its largest position. Plimoth Trust Co. LLC's holdings in Apple were worth $27,355,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in AAPL. Norges Bank purchased a new position in shares of Apple during the 4th quarter worth $52,266,468,000. Nuveen LLC acquired a new position in shares of Apple in the first quarter valued at approximately $17,472,482,000. Cardano Risk Management B.V. increased its position 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 acquiring an additional 37,746,784 shares during the period. Laurel Wealth Advisors LLC raised its position in Apple by 20,464.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker's stock valued at $5,553,753,000 after purchasing an additional 26,937,401 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Apple by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock valued at $387,749,545,000 after acquiring an additional 26,856,752 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Trading Up 4.0%

Shares of AAPL stock opened at $327.50 on Thursday. The firm has a 50-day moving average price of $301.89 and a 200 day moving average price of $276.27. 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 capitalization of $4.81 trillion, a price-to-earnings ratio of 39.60, a PEG ratio of 2.74 and a beta of 1.10. Apple Inc. has a twelve month low of $201.50 and a twelve month high of $328.73.

Apple (NASDAQ:AAPL - Get Free Report) last announced its 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. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. During the same quarter last year, the business earned $1.65 earnings per share. Apple's revenue was up 16.6% compared to the same quarter last year. Research analysts forecast that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a $0.27 dividend. This is a boost from Apple's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. Apple's dividend payout ratio is 13.06%.

Insiders Place Their Bets

In other news, CFO Kevan Parekh sold 1,534 shares of the business's stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the completion of the sale, the chief financial officer directly owned 13,366 shares of the company's stock, valued at $3,675,650. The trade was a 10.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ben Borders sold 1,274 shares of the firm's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the transaction, the insider owned 38,713 shares in the company, valued at approximately $11,226,770. This trade represents a 3.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 2,924 shares of company stock worth $825,546. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AAPL. Maxim Group reaffirmed a "buy" rating and set a $350.00 price objective (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. Royal Bank Of Canada set a $365.00 price objective on shares of Apple in a research report on Wednesday. Tigress Financial restated a "strong-buy" rating and set a $375.00 price target (up from $305.00) on shares of Apple in a research note on Thursday, May 14th. DA Davidson restated a "neutral" rating and issued a $270.00 price objective on shares of Apple in a research report on Friday, May 1st. Finally, BNP Paribas Exane upgraded shares of Apple from a "neutral" rating to an "outperform" rating and set a $300.00 target price on the stock in a research report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $314.26.

More 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

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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