CHICAGO TRUST Co NA Sells 4,883 Shares of Apple Inc. $AAPL

Key Points

• CHICAGO TRUST Co NA trimmed its Apple stake by 4.0% in Q1, selling 4,883 shares and ending with 118,687 shares worth about $30.1 million. Apple remains its largest holding, making up roughly 4.8% of its portfolio.
• Wall Street sentiment stays mostly positive on Apple, with analysts assigning a consensus “Moderate Buy” rating and an average price target of $314.85. Recent target hikes and buy ratings from firms like UBS, Maxim Group, and Tigress Financial helped support that view.
• Apple reported strong fundamentals, including Q2 earnings of $2.01 per share versus $1.95 expected and revenue of $111.18 billion, up 16.6% year over year. The company also raised its quarterly dividend to $0.27 per share from $0.26.

CHICAGO TRUST Co NA lowered its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,687 shares of the iPhone maker's stock after selling 4,883 shares during the quarter. Apple accounts for approximately 4.8% of CHICAGO TRUST Co NA's holdings, making the stock its biggest holding. CHICAGO TRUST Co NA's holdings in Apple were worth $30,122,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Reyes Financial Architecture Inc. boosted its stake in shares of Apple by 0.4% during the 3rd quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker's stock valued at $2,520,000 after buying an additional 37 shares during the last quarter. WESPAC Advisors LLC increased its stake in shares of Apple by 0.3% in the fourth quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker's stock worth $3,351,000 after buying an additional 39 shares during the last quarter. Interactive Financial Advisors Inc. raised its holdings in Apple by 4.0% in the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker's stock valued at $286,000 after acquiring an additional 40 shares in the last quarter. Sugar Maple Asset Management LLC raised its holdings in Apple by 2.0% in the first quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker's stock valued at $515,000 after acquiring an additional 40 shares in the last quarter. Finally, Orion Investment Co boosted its stake in Apple by 0.3% during the 4th quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker's stock valued at $3,902,000 after acquiring an additional 41 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AAPL. KGI Securities downgraded shares of Apple from an "outperform" rating to a "hold" rating and set a $315.00 target price for the company. in a research report on Monday, June 22nd. UBS Group reaffirmed a "buy" rating on shares of Apple in a research report on Tuesday, June 9th. Monness Crespi & Hardt lifted their price target on Apple from $315.00 to $335.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Maxim Group reiterated a "buy" rating and issued a $350.00 price target (up from $310.00) on shares of Apple in a research note on Tuesday, June 9th. Finally, Tigress Financial reissued a "strong-buy" rating and issued a $375.00 price objective (up from $305.00) on shares of Apple in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and a consensus price target of $314.85.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s new lawsuit against OpenAI could help protect its hardware roadmap and reinforce its control over proprietary technology, which may support its long-term competitive position. Reuters: Apple sues OpenAI, two former employees for trade secrets theft
• Positive Sentiment: Recent headlines around Apple’s expanded multi-year chip deal with Broadcom continue to boost sentiment, since the agreement strengthens Apple’s supply chain, supports U.S. manufacturing, and deepens its custom silicon strategy. Yahoo Finance: Apple Secures Largest Ever US Chip Deal With Broadcom For $30 Billion
• Neutral Sentiment: Apple was also named among approved U.S. companies eligible for license-free exports under eased UAE trade rules, which is supportive for international operations but not clearly a near-term stock catalyst. Quiver Quant: U.S. eases export controls on UAE
• Neutral Sentiment: Short-interest data showed no meaningful change, suggesting today’s move is being driven more by news flow than by a shift in bearish positioning.
• Negative Sentiment: The OpenAI lawsuit also highlights that Apple’s relationship with a major AI player has soured, adding uncertainty around future AI partnerships and potentially distracting management with litigation. Financial Times: Apple sues OpenAI, alleging it stole top-secret information

Insider Buying and Selling

In related news, CFO Kevan Parekh sold 1,534 shares of the 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 of the company's stock, valued at $3,675,650. This represents a 10.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ben Borders sold 1,274 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the sale, the insider owned 38,713 shares in the company, valued at approximately $11,226,770. This represents a 3.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,924 shares of company stock valued at $825,546 over the last three months. Corporate insiders own 0.06% of the company's stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $315.32 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The firm has a market capitalization of $4.63 trillion, a PE ratio of 38.13, a P/E/G ratio of 2.74 and a beta of 1.10. Apple Inc. has a 1-year low of $201.50 and a 1-year high of $317.40. The business's fifty day moving average price is $299.55 and its two-hundred day moving average price is $275.29.

Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $109.46 billion. During the same period in the previous year, the business posted $1.65 EPS. Apple's revenue was up 16.6% on a year-over-year basis. On average, research analysts expect that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a dividend of $0.27 per share. 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 was Monday, May 11th. Apple's payout ratio is presently 13.06%.

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.

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.