NORTHSTAR ASSET MANAGEMENT Co Cuts Holdings in Apple Inc. $AAPL

Key Points

• NORTHSTAR ASSET MANAGEMENT Co trimmed its Apple stake by 1.7% in the first quarter, selling 2,675 shares and ending with 155,266 shares valued at about $39.4 million. Apple remains its second-largest holding, representing 8.9% of the portfolio.
• Insider selling continued at Apple, with CFO Kevan Parekh and insider Ben Borders both disposing of shares in recent transactions. In the past 90 days, insiders sold 2,924 shares worth $825,546, though insiders still own only 0.06% of the company.
• Apple’s recent backdrop is mixed but broadly constructive: it beat quarterly earnings expectations and raised its dividend, while analysts maintained a Moderate Buy consensus. At the same time, the company faces a negative EU court ruling on Digital Markets Act rules, even as it announced a major $30 billion Broadcom chip partnership.

NORTHSTAR ASSET MANAGEMENT Co lowered its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 155,266 shares of the iPhone maker's stock after selling 2,675 shares during the quarter. Apple comprises about 8.9% of NORTHSTAR ASSET MANAGEMENT Co's portfolio, making the stock its 2nd biggest holding. NORTHSTAR ASSET MANAGEMENT Co's holdings in Apple were worth $39,405,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lifetime Wealth Management P.C. bought a new position in Apple during the fourth quarter valued at about $41,000. ROSS JOHNSON & Associates LLC raised its position in Apple by 1,800.0% in 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 in the last quarter. LSV Asset Management acquired a new stake in Apple in the 4th quarter valued at about $65,000. Timmons Wealth Management LLC bought a new position in shares of Apple during the 4th quarter valued at about $69,000. Finally, 49 Wealth Management LLC boosted its position in shares of Apple by 15.7% during the 3rd quarter. 49 Wealth Management LLC now owns 298,920 shares of the iPhone maker's stock valued at $76,000 after purchasing an additional 40,543 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Insider Activity at Apple

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the business's stock in a transaction that occurred 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 directly owned 13,366 shares of the company's stock, valued at $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ben Borders sold 1,274 shares of Apple 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. The trade was a 3.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 2,924 shares of company stock worth $825,546. Insiders own 0.06% of the company's stock.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple announced a multiyear partnership with Broadcom worth more than $30 billion to design and produce U.S.-made custom silicon and wireless chips, its largest domestic manufacturing commitment to date. The deal improves supply-chain resiliency and supports future product cycles. Article Title
• Positive Sentiment: JPMorgan said Apple’s recent price increases for Mac and iPad, and any possible iPhone hikes, are unlikely to significantly hurt demand, and it raised its price target while reiterating a Buy rating. Article Title
• Positive Sentiment: UBS said App Store data points to roughly 3% growth in Apple’s June quarter, signaling that services revenue remains resilient even as U.S. revenue softens somewhat. Article Title
• Neutral Sentiment: Several pieces framed Apple as a potential leader in a broader “Magnificent Seven” rebound, but these were mostly market commentary rather than company-specific catalysts. Article Title
• Negative Sentiment: An EU court rejected Apple’s challenge to Digital Markets Act gatekeeper rules, leaving the company exposed to tighter App Store and iOS antitrust obligations in Europe. Article Title
• Negative Sentiment: Hedgeye reportedly added Apple as a new short idea, which may be adding some caution around the stock’s near-term valuation after a strong run. Article Title

Apple Price Performance

NASDAQ AAPL opened at $316.16 on Friday. The company has a 50 day simple moving average of $298.65 and a 200-day simple moving average of $274.97. The firm has a market capitalization of $4.64 trillion, a price-to-earnings ratio of 38.23, a price-to-earnings-growth ratio of 2.73 and a beta of 1.10. Apple Inc. has a 52-week low of $201.50 and a 52-week high of $317.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping 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 business had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. During the same period in the prior year, the business posted $1.65 earnings per share. Apple's revenue for the quarter was up 16.6% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

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

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of research reports. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a report on Tuesday, June 9th. Sanford C. Bernstein restated an "outperform" rating on shares of Apple in a research report on Monday, June 8th. KGI Securities cut Apple from an "outperform" rating to a "hold" rating and set a $315.00 price target on the stock. in a report on Monday, June 22nd. Tigress Financial reiterated a "strong-buy" rating and set a $375.00 price objective (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. Finally, Monness Crespi & Hardt raised their price objective on Apple from $315.00 to $335.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Apple presently has a consensus rating of "Moderate Buy" and an average price target of $314.85.

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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