Jupiter Asset Management Ltd. Has $429.91 Million Stock Position in Apple Inc. $AAPL

Jupiter Asset Management Ltd. increased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,581,364 shares of the iPhone maker's stock after buying an additional 78,567 shares during the period. Apple accounts for 3.4% of Jupiter Asset Management Ltd.'s holdings, making the stock its 2nd largest position. Jupiter Asset Management Ltd.'s holdings in Apple were worth $429,910,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. First National Bank of Hutchinson raised its position in shares of Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after buying an additional 6,982 shares in the last quarter. Eagle Capital Management LLC raised its position in shares of Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after buying an additional 272 shares in the last quarter. Brighton Jones LLC raised its position in shares of Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock valued at $134,554,000 after buying an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after buying an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE raised its position in Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock valued at $12,587,000 after purchasing an additional 1,155 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In related news, CFO Kevan Parekh sold 1,534 shares of the company's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the sale, the chief financial officer owned 13,366 shares in the company, valued at $3,675,650. This represents a 10.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ben Borders sold 1,274 shares of the company's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the completion of the sale, the insider owned 38,713 shares in the company, valued at $11,226,770. This represents a 3.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 97,759 shares of company stock worth $24,964,305. 0.06% of the stock is currently owned by insiders.

Key Apple News

Here are the key news stories impacting Apple this week:

• Negative Sentiment: Investors were disappointed that Siri’s AI overhaul still appears behind rivals, with launch timing stretching into later this year and some features limited to the U.S. at first. Apple shares slide after big Siri AI reveal
• Negative Sentiment: Analysts warned that Apple is relying on Google Gemini/Nvidia infrastructure for parts of its advanced AI stack, raising questions about how much of the AI value capture Apple keeps in-house. Apple failed to make its AI tool to comply to EU regulations, EU Commission says
• Negative Sentiment: Morgan Stanley said the new Siri features may be held back by older iPhones, limiting the near-term upgrade cycle and the addressable installed base. Apple's AI Siri will be held back by aging devices, Morgan Stanley says

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Citigroup restated a "buy" rating on shares of Apple in a research report on Monday, June 1st. Needham & Company LLC restated a "hold" rating on shares of Apple in a research report on Tuesday. Bank of America restated a "buy" rating and set a $380.00 price objective (up from $330.00) on shares of Apple in a research report on Tuesday, May 26th. UBS Group restated a "buy" rating on shares of Apple in a research report on Tuesday. Finally, Rosenblatt Securities restated a "neutral" rating and set a $276.00 price objective on shares of Apple in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $314.59.

Apple Stock Performance

Shares of AAPL opened at $290.55 on Wednesday. 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 $4.27 trillion, a P/E ratio of 35.13, a price-to-earnings-growth ratio of 2.63 and a beta of 1.09. The firm's fifty day simple moving average is $283.19 and its two-hundred day simple moving average is $271.79. Apple Inc. has a 12 month low of $195.07 and a 12 month high of $317.40.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating analysts' consensus estimates of $1.95 by $0.06. The business had revenue of $111.18 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.65 earnings per share. As a group, analysts predict that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a $0.27 dividend. The ex-dividend date was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from Apple's previous quarterly dividend of $0.26. Apple's dividend payout ratio (DPR) is currently 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.

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