Penn Davis Mcfarland Inc. Sells 2,452 Shares of Apple Inc. $AAPL

Key Points

• Penn Davis Mcfarland Inc. trimmed its Apple stake by 1.3% in the first quarter, selling 2,452 shares and ending with 179,438 shares valued at about $45.5 million. Apple remains a meaningful holding, making up roughly 4.5% of the firm’s portfolio.
• Wall Street sentiment on Apple remains broadly positive, with an average “Moderate Buy” rating and a consensus price target of $314.85. Recent analyst actions included buy/overweight reiterations from Citigroup, UBS, and Wells Fargo, though Barclays kept an underweight rating.
• Apple’s latest results and stock backdrop remain strong: the company beat quarterly EPS and revenue estimates, raised its dividend, and shares recently traded near their 52-week high. However, insider selling and concerns about rising component costs and margin pressure are still weighing on sentiment.

Penn Davis Mcfarland Inc. cut its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 179,438 shares of the iPhone maker's stock after selling 2,452 shares during the period. Apple makes up approximately 4.5% of Penn Davis Mcfarland Inc.'s investment portfolio, making the stock its 5th largest holding. Penn Davis Mcfarland Inc.'s holdings in Apple were worth $45,540,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. First National Bank of Hutchinson grew its position in shares of Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after purchasing an additional 6,982 shares during the period. Eagle Capital Management LLC raised its holdings in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after buying an additional 272 shares during the period. Brighton Jones LLC raised its holdings in Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after buying an additional 69,207 shares during the period. Revolve Wealth Partners LLC lifted its stake in 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 lifted its stake in Apple by 2.4% in 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 buying an additional 1,155 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Citigroup reissued a "buy" rating on shares of Apple in a research report on Monday, June 1st. UBS Group reaffirmed a "buy" rating on shares of Apple in a research note on Tuesday, June 9th. Wells Fargo & Company reissued an "overweight" rating and issued a $310.00 price target (up from $300.00) on shares of Apple in a research note on Friday, May 1st. Robert W. Baird set a $310.00 price target on Apple in a report on Friday, May 1st. Finally, Barclays reaffirmed an "underweight" rating on shares of Apple in a research report on Tuesday, June 9th. One investment 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 given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $314.85.

Insider Transactions 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 stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the sale, the chief financial officer owned 13,366 shares in the company, valued at approximately $3,675,650. This represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ben Borders sold 116 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the transaction, the insider directly owned 38,713 shares of the company's stock, valued at $11,425,754.82. This trade represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 2,924 shares of company stock worth $825,546. 0.06% of the stock is owned by company insiders.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Reports that Apple plans at least five new iPhone models through early 2027, including a stronger foldable iPhone push, have reinforced expectations for a fresh product cycle and a longer growth runway. Apple plans five new iPhones through 2027, eyes Chinese-made chips amid foldable push, reports say
• Positive Sentiment: Apple also appears to be benefiting from investor optimism that it can navigate the memory-chip shortage and secure supply, including possible deals with lower-cost Chinese chipmakers, which could help protect future production. Apple negotiates with blacklisted Chinese chipmakers amid AI-driven memory crunch
• Positive Sentiment: Several market commentary pieces said Apple is holding up better than the broader tech sector, with traders viewing recent weakness as a buying opportunity and analysts still pointing to solid upside potential. Apple’s Aggressive Price Hikes Raise Eyebrows As Wall Street Links AI Chip Shortages To Inflation Pressure
• Neutral Sentiment: Apple’s recent price hikes on Macs and iPads are being interpreted two ways: as a sign of inflationary component costs, but also as a margin-protection move that may not hurt demand as much as feared. Jim Cramer’s Latest Thought on Apple Inc. (AAPL)
• Neutral Sentiment: Apple’s insider-selling activity and mixed institutional positioning are adding caution, but they are not the main driver of the stock today. Apple Stock (AAPL) Opinions on Recent Price Hikes and Analyst Views
• Negative Sentiment: Some coverage continues to flag pressure on Apple’s margins and demand if higher component costs force more price increases, which could weigh on sentiment over time. Is Apple stock in trouble? Rising costs threaten margins, demand

Apple Stock Performance

Shares of AAPL opened at $308.63 on Friday. The stock has a market capitalization of $4.53 trillion, a price-to-earnings ratio of 37.32, a PEG ratio of 2.68 and a beta of 1.10. Apple Inc. has a 12 month low of $201.50 and a 12 month high of $317.40. The firm has a fifty day simple moving average of $295.25 and a 200 day simple moving average of $273.85. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $109.46 billion. During the same period in the previous year, the business earned $1.65 EPS. The company's revenue was up 16.6% compared to the same quarter last year. Research analysts forecast that Apple Inc. will post 8.74 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 given 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 dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. Apple's dividend payout ratio (DPR) 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.