California Public Employees Retirement System Increases Stake in Apple Inc. $AAPL

California Public Employees Retirement System grew its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,713,677 shares of the iPhone maker's stock after buying an additional 1,338,411 shares during the quarter. Apple accounts for about 5.9% of California Public Employees Retirement System's investment portfolio, making the stock its 3rd biggest holding. California Public Employees Retirement System owned about 0.26% of Apple worth $9,571,354,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. MTM Investment Management LLC raised its stake in shares of Apple by 2.1% in the 1st quarter. MTM Investment Management LLC now owns 46,026 shares of the iPhone maker's stock valued at $11,681,000 after purchasing an additional 950 shares during the period. Heartland Bank & Trust Co lifted its holdings in shares of Apple by 18.9% in the first quarter. Heartland Bank & Trust Co now owns 79,289 shares of the iPhone maker's stock valued at $20,123,000 after purchasing an additional 12,583 shares in the last quarter. Zhang Financial LLC boosted its position in shares of Apple by 4.3% during the first quarter. Zhang Financial LLC now owns 226,060 shares of the iPhone maker's stock worth $57,372,000 after buying an additional 9,352 shares during the period. Frontier Asset Management LLC boosted its position in shares of Apple by 10.7% during the first quarter. Frontier Asset Management LLC now owns 1,533 shares of the iPhone maker's stock worth $389,000 after buying an additional 148 shares during the period. Finally, FSA Advisors Inc. grew its holdings in shares of Apple by 550.0% during the first quarter. FSA Advisors Inc. now owns 11,109 shares of the iPhone maker's stock worth $2,819,000 after buying an additional 9,400 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Insider Activity at Apple

In other news, insider Ben Borders sold 1,274 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the transaction, the insider directly owned 38,713 shares of the company's stock, valued at $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. UBS Group reiterated a "neutral" rating on shares of Apple in a report on Friday. The Goldman Sachs Group restated a "buy" rating and set a $360.00 target price (down from $370.00) on shares of Apple in a report on Friday. JPMorgan Chase & Co. decreased their target price on shares of Apple from $345.00 to $340.00 and set an "overweight" rating for the company in a research report on Friday. Robert W. Baird lifted their price target on shares of Apple from $310.00 to $330.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. Finally, Tigress Financial reissued a "strong-buy" rating and set a $375.00 price target (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Apple presently has an average rating of "Moderate Buy" and an average price target of $331.60.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple reported record June-quarter revenue of $109.4 billion, up 16.4% year over year, and diluted EPS of $2.02, exceeding Wall Street expectations. iPhone revenue rose 22% to $54.3 billion, while Mac revenue increased 29% to $10.4 billion. Apple reports third quarter results
• Positive Sentiment: Apple’s large installed base, strong hardware demand and potential consumer-AI opportunities remain long-term supports. Some analysts remain bullish: TD Cowen raised its price target to $400, while other firms maintained Buy or Overweight ratings despite trimming estimates. Analyst raises Apple price target
• Positive Sentiment: The company declared a quarterly dividend of $0.27 per share, payable August 13 to shareholders of record August 10. Apple also continues to emphasize an AI strategy that requires less capital spending than the infrastructure-heavy approach used by some peers. Apple Q3 financial results

Apple Stock Performance

AAPL opened at $308.91 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Apple Inc. has a 12-month low of $201.50 and a 12-month high of $344.57. The business has a 50 day moving average of $309.51 and a 200-day moving average of $281.60. The stock has a market cap of $4.54 trillion, a price-to-earnings ratio of 35.43, a PEG ratio of 2.65 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.13. Apple had a return on equity of 135.46% and a net margin of 27.62%.The business had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. During the same period in the previous year, the firm earned $1.57 EPS. The firm's revenue was up 16.4% compared to the same quarter last year. On average, equities research analysts expect that Apple Inc. will post 8.8 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, August 10th. Apple's payout ratio is currently 12.39%.

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.

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.