Parker Investment Management LLC Sells 2,942 Shares of Apple Inc. $AAPL

Parker Investment Management LLC decreased its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 35.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,438 shares of the iPhone maker's stock after selling 2,942 shares during the quarter. Apple comprises 0.2% of Parker Investment Management LLC's portfolio, making the stock its 22nd biggest holding. Parker Investment Management LLC's holdings in Apple were worth $1,380,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Lifetime Wealth Management P.C. bought a new position in Apple during the fourth quarter valued at $41,000. ROSS JOHNSON & Associates LLC lifted its holdings in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after acquiring an additional 180 shares during the last quarter. LSV Asset Management bought a new stake in shares of Apple in the 4th quarter worth about $65,000. Timmons Wealth Management LLC purchased a new position in shares of Apple during the 4th quarter worth about $69,000. Finally, Inspire Investing LLC purchased a new position in shares of Apple during the 4th quarter worth about $76,000. Institutional investors own 67.73% of the company's stock.

Insider Transactions at Apple

In related news, insider Ben Borders sold 116 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the transaction, the insider owned 38,713 shares of the company's stock, valued at $11,425,754.82. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 currently owned by company insiders.

Apple Trading Up 0.3%

Shares of AAPL opened at $313.33 on Friday. The firm has a market capitalization of $4.57 trillion, a price-to-earnings ratio of 35.93, a PEG ratio of 2.69 and a beta of 1.09. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. Apple Inc. has a 1-year low of $219.25 and a 1-year high of $344.57. The company has a 50-day moving average of $309.45 and a 200 day moving average of $283.23.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, July 30th. The iPhone maker reported $2.02 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.13. The business had revenue of $109.42 billion for the quarter, compared to the consensus estimate of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. The company's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.57 EPS. On average, research analysts expect that Apple Inc. will post 8.76 EPS for the current year.

Apple Dividend Announcement

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

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Planned CEO transition appears orderly. Tim Cook will step down in September and be succeeded by longtime Apple executive John Ternus, a veteran with experience dating back to the Steve Jobs era. Cook’s endorsement and Ternus’ familiarity with Apple’s products may reduce concerns about strategic disruption. Tim Cook Says There’s ‘No Better Person’ to Take Over at Apple
• Positive Sentiment: Core business momentum remains strong. Apple’s latest quarter exceeded earnings and revenue expectations, with revenue up roughly 16% year over year. Broad iPhone, Mac and Services demand continues to support the bullish case. Tim Cook's Last Quarter as CEO Was Apple's Best June Quarter Ever
• Positive Sentiment: App Store monetization is holding up. App Store revenue increased slightly despite a 4% decline in iPhone and iPad downloads, as revenue per download rose 4.7%. This suggests continued pricing and engagement resilience in a key Services business. Apple App Store Revenue Ticks Up Despite Falling Downloads
• Neutral Sentiment: OpenAI is seeking dismissal of Apple’s trade-secrets lawsuit. OpenAI denies misappropriating confidential information related to Apple’s consumer-hardware efforts. The filing does not resolve the dispute, leaving legal and competitive uncertainty in place. OpenAI Seeks Dismissal of Apple's Trade Secrets Lawsuit
• Negative Sentiment: Near-term cost and growth pressures are weighing on sentiment. Rising memory prices, supply constraints and policy risks could pressure margins, while slower Services growth has prompted some firms to downgrade Apple to Hold or Moderate Sell. Apple's Capex Strategy Worked But Other Pressures Are Mounting
• Negative Sentiment: Competition in emerging hardware is increasing. Samsung reported a 30% rise in foldable-device preorders, highlighting a market Apple has yet to enter. Investors may view future Apple foldables as an opportunity, but execution and timing remain uncertain. Samsung Foldable Preorders Jump 30%

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Apple from $364.00 to $360.00 and set an "overweight" rating on the stock in a research report on Friday, July 31st. DA Davidson restated a "neutral" rating and set a $270.00 target price on shares of Apple in a research report on Friday, July 31st. Maxim Group reaffirmed a "buy" rating and set a $350.00 target price (up from $310.00) on shares of Apple in a research note on Tuesday, June 9th. BNP Paribas Exane upgraded Apple from a "neutral" rating to an "outperform" rating and set a $300.00 price target on the stock in a report on Friday, April 17th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Apple in a research note on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $330.44.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source