Fifth Third Bancorp Buys 3,187,022 Shares of Apple Inc. $AAPL

Fifth Third Bancorp increased its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 53.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,161,758 shares of the iPhone maker's stock after purchasing an additional 3,187,022 shares during the quarter. Apple comprises about 4.3% of Fifth Third Bancorp's portfolio, making the stock its 2nd biggest position. Fifth Third Bancorp owned 0.06% of Apple worth $2,325,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of Apple in the 4th quarter valued at $52,266,468,000. Nuveen LLC acquired a new stake in shares of Apple during the 1st quarter worth approximately $17,472,482,000. Cardano Risk Management B.V. raised its stake 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 buying an additional 37,746,784 shares during the last quarter. Laurel Wealth Advisors LLC raised its stake in shares of Apple by 20,464.8% during the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker's stock worth $5,553,753,000 after buying an additional 26,937,401 shares during the last quarter. Finally, Vanguard Group Inc. lifted 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 buying an additional 26,856,752 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Ford said it will embed Apple Maps into upcoming EVs, expanding Apple’s software reach and reinforcing the value of its ecosystem. Ford Embeds Apple Maps Directly into Upcoming EVs
• Positive Sentiment: Baird raised its price target on Apple and reiterated an Outperform rating, adding to bullish analyst momentum. Finviz
• Positive Sentiment: Commentary highlighted Apple as outperforming the broader market, supported by strong ratings and a favorable chart setup ahead of earnings. Why is Apple stock outperforming the broader market?
• Neutral Sentiment: Apple was also the subject of discussion around upcoming product launches, AI features, and a possible device-leasing program, which could support demand but remain unconfirmed or longer-term in nature.
• Negative Sentiment: Some reports noted concerns that Apple’s valuation is stretched heading into earnings, and insider sales plus short-interest chatter may temper enthusiasm if results disappoint.

Apple Price Performance

Shares of AAPL opened at $333.02 on Friday. The stock has a 50 day simple moving average of $306.62 and a 200 day simple moving average of $279.01. Apple Inc. has a 52-week low of $201.50 and a 52-week high of $334.99. 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 firm has a market capitalization of $4.89 trillion, a PE ratio of 40.27, a P/E/G ratio of 2.88 and a beta of 1.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. The firm had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business's quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the company posted $1.65 EPS. Sell-side analysts predict that Apple Inc. will post 8.76 EPS 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 paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. This is a boost from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio (DPR) is currently 13.06%.

Insider Activity

In other news, insider Ben Borders sold 116 shares of the business's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the sale, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Morgan Stanley set a $364.00 price objective on shares of Apple and gave the company an "overweight" rating in a research note on Thursday. 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. Bank of America reissued a "buy" rating and issued a $380.00 price target on shares of Apple in a research note on Thursday, June 18th. Citigroup reaffirmed a "buy" rating and set a $365.00 price objective (up from $315.00) on shares of Apple in a research note on Monday, July 13th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Apple in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $327.40.

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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