Border to Coast Pensions Partnership Ltd Sells 17,063 Shares of Apple Inc. $AAPL

Key Points

• Border to Coast Pensions Partnership Ltd trimmed its Apple stake by 1.4% in the first quarter, selling 17,063 shares. The fund still owns 1,213,399 shares worth about $308.9 million, making Apple its third-largest holding.
• Apple’s latest quarterly results topped expectations, with $2.01 EPS on $111.18 billion in revenue, and revenue rose 16.6% year over year. The company also raised its quarterly dividend to $0.27 per share from $0.26.
• Analysts remain broadly positive on Apple, with a consensus rating of Moderate Buy and an average price target of $314.85. Several firms reiterated bullish calls, though some still maintained hold ratings.

Border to Coast Pensions Partnership Ltd reduced its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,213,399 shares of the iPhone maker's stock after selling 17,063 shares during the period. Apple accounts for about 5.2% of Border to Coast Pensions Partnership Ltd's holdings, making the stock its 3rd biggest position. Border to Coast Pensions Partnership Ltd's holdings in Apple were worth $308,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Lifetime Wealth Management P.C. acquired a new position in shares of Apple in the fourth quarter valued at approximately $41,000. ROSS JOHNSON & Associates LLC boosted its position in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after acquiring an additional 180 shares during the last quarter. Timmons Wealth Management LLC purchased a new stake in Apple in the 4th quarter worth approximately $69,000. LSV Asset Management purchased a new stake in Apple in the 4th quarter worth approximately $65,000. Finally, Inspire Investing LLC acquired a new position in Apple in the 4th quarter valued at $76,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on AAPL. Evercore restated an "outperform" rating on shares of Apple in a report on Monday, June 8th. UBS Group reiterated a "buy" rating on shares of Apple in a research note on Tuesday, June 9th. Tigress Financial reiterated a "strong-buy" rating and set a $375.00 target price (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. Jefferies Financial Group reissued a "hold" rating on shares of Apple in a research note on Tuesday, June 9th. Finally, Needham & Company LLC restated a "hold" rating on shares of Apple in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Apple has an average rating of "Moderate Buy" and a consensus price target of $314.85.

Apple Price Performance

AAPL opened at $308.63 on Monday. Apple Inc. has a 1 year low of $201.50 and a 1 year high of $317.40. The firm has a 50 day moving average price of $295.25 and a 200 day moving average price of $273.84. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The company has a market cap of $4.53 trillion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 2.68 and a beta of 1.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share 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 firm had revenue of $111.18 billion for the quarter, compared to analysts' expectations of $109.46 billion. During the same period in the previous year, the company posted $1.65 earnings per share. Apple's revenue was up 16.6% compared to the same quarter last year. Sell-side analysts expect that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

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

Insider Buying and Selling at Apple

In related news, insider Ben Borders sold 1,274 shares of the company's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the sale, the insider directly owned 38,713 shares of the company's stock, valued at approximately $11,226,770. This represents a 3.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the sale, the chief financial officer owned 13,366 shares of the company's stock, valued at approximately $3,675,650. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,924 shares of company stock worth $825,546 in the last 90 days. Company insiders own 0.06% of the company's stock.

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

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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