Apple Inc. $AAPL Stock Position Lessened by Union Bancaire Privee UBP SA

Key Points

• Union Bancaire Privee UBP SA cut its Apple stake by 2.0% in the first quarter, selling 22,732 shares and leaving it with 1,135,958 shares worth about $280.6 million. Apple remains one of the fund’s largest positions, accounting for 4.8% of holdings.
• Analyst sentiment on Apple is still broadly positive but mixed: the stock has an average rating of “Moderate Buy” with a consensus price target of $314.85. Recent ratings ranged from buy to hold, with one analyst issuing a sell rating.
• Apple’s latest quarter beat expectations, posting $2.01 EPS on revenue of $111.18 billion, and the company also raised its quarterly dividend to $0.27 per share. The stock was trading near its 52-week high, reflecting continued investor interest despite some insider selling and institutional trimming.

Union Bancaire Privee UBP SA trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,135,958 shares of the iPhone maker's stock after selling 22,732 shares during the period. Apple comprises approximately 4.8% of Union Bancaire Privee UBP SA's holdings, making the stock its 4th biggest holding. Union Bancaire Privee UBP SA's holdings in Apple were worth $280,600,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Overbrook Management Corp raised its holdings in shares of Apple by 57.4% in the fourth quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker's stock valued at $28,449,000 after purchasing an additional 38,174 shares during the last quarter. Rainier Family Wealth Inc. boosted its holdings in Apple by 14.1% during the first quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker's stock worth $6,189,000 after purchasing an additional 3,014 shares during the last quarter. Torren Management LLC purchased a new position in Apple during the fourth quarter worth about $1,178,000. Summit Wealth Partners LLC grew its position in Apple by 108.3% in the 1st quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker's stock worth $8,880,000 after purchasing an additional 18,188 shares in the last quarter. Finally, Adventist Health System Sunbelt Healthcare Corp bought a new stake in Apple in the 4th quarter worth about $105,482,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. DA Davidson reissued a "neutral" rating and set a $270.00 target price on shares of Apple in a research report on Friday, May 1st. UBS Group reaffirmed a "buy" rating on shares of Apple in a research report on Tuesday, June 9th. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a report on Tuesday, June 9th. Jefferies Financial Group reissued a "hold" rating on shares of Apple in a research report on Tuesday, June 9th. Finally, KeyCorp restated a "sector weight" rating on shares of Apple in a research note on Tuesday, June 9th. One equities 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 given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $314.85.

Insider Transactions at Apple

In related news, insider Ben Borders sold 116 shares of the stock in a transaction dated 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 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 SEC, which is available through this link. 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 Apple stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 13,366 shares in the company, valued at $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 2,924 shares of company stock valued at $825,546. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Performance

Shares of AAPL stock opened at $308.63 on Monday. Apple Inc. has a 12 month low of $201.50 and a 12 month high of $317.40. The firm's 50 day moving average is $295.25 and its 200 day moving average is $273.84. 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 stock has a market capitalization 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 issued its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating the consensus estimate of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company had revenue of $111.18 billion during the quarter, compared to analysts' expectations of $109.46 billion. During the same quarter in the previous year, the company earned $1.65 earnings per share. Apple's revenue for the quarter was up 16.6% on a year-over-year basis. On average, sell-side analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid 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 yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. Apple's payout ratio is presently 13.06%.

Trending Headlines about Apple

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

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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