Petros Family Wealth LLC Has $6.76 Million Stock Holdings in Apple Inc. $AAPL

Key Points

• Petros Family Wealth LLC reduced its Apple stake by 14.8% in the first quarter, selling 4,636 shares and leaving it with 26,655 shares worth about $6.76 million. Apple remains its second-largest holding, accounting for 4.8% of the portfolio.
• Apple continues to draw major institutional interest, with firms like Norges Bank, Nuveen, and Vanguard increasing or establishing large positions. Institutional investors now own 67.73% of Apple’s shares.
• Recent headlines are broadly supportive for Apple, including its lawsuit against OpenAI and a major multi-year chip deal with Broadcom that strengthens its supply chain and custom silicon strategy. Analysts remain generally positive, with a consensus Moderate Buy rating and an average target price of $314.85.

Petros Family Wealth LLC cut its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 14.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,655 shares of the iPhone maker's stock after selling 4,636 shares during the quarter. Apple makes up 4.8% of Petros Family Wealth LLC's holdings, making the stock its 2nd biggest holding. Petros Family Wealth LLC's holdings in Apple were worth $6,765,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Norges Bank acquired a new position in Apple during the 4th quarter worth approximately $52,266,468,000. Nuveen LLC bought a new position in Apple in the 1st quarter valued at approximately $17,472,482,000. Cardano Risk Management B.V. lifted its stake in Apple by 890.7% in the 4th quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker's stock valued at $11,413,990,000 after purchasing an additional 37,746,784 shares during the last quarter. Laurel Wealth Advisors LLC boosted its position in Apple by 20,464.8% in the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker's stock valued at $5,553,753,000 after buying an additional 26,937,401 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position 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 in the last quarter. Institutional investors own 67.73% of the company's stock.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s new lawsuit against OpenAI could help protect its hardware roadmap and reinforce its control over proprietary technology, which may support its long-term competitive position. Reuters: Apple sues OpenAI, two former employees for trade secrets theft
• Positive Sentiment: Recent headlines around Apple’s expanded multi-year chip deal with Broadcom continue to boost sentiment, since the agreement strengthens Apple’s supply chain, supports U.S. manufacturing, and deepens its custom silicon strategy. Yahoo Finance: Apple Secures Largest Ever US Chip Deal With Broadcom For $30 Billion
• Neutral Sentiment: Apple was also named among approved U.S. companies eligible for license-free exports under eased UAE trade rules, which is supportive for international operations but not clearly a near-term stock catalyst. Quiver Quant: U.S. eases export controls on UAE
• Neutral Sentiment: Short-interest data showed no meaningful change, suggesting today’s move is being driven more by news flow than by a shift in bearish positioning.
• Negative Sentiment: The OpenAI lawsuit also highlights that Apple’s relationship with a major AI player has soured, adding uncertainty around future AI partnerships and potentially distracting management with litigation. Financial Times: Apple sues OpenAI, alleging it stole top-secret information

Insider Buying and Selling at Apple

In other Apple 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 value of $421,850.00. Following the sale, the chief financial officer owned 13,366 shares in the company, valued at approximately $3,675,650. The trade was a 10.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ben Borders sold 1,274 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $290.00, for a total value 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. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 2,924 shares of company stock valued at $825,546. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AAPL shares. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a report on Tuesday, June 9th. Barclays reiterated an "underweight" rating on shares of Apple in a research note on Tuesday, June 9th. TD Cowen boosted their price objective on Apple from $335.00 to $350.00 and gave the stock a "buy" rating in a research report on Tuesday, June 9th. Tigress Financial restated 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, Citigroup reaffirmed a "buy" rating on shares of Apple in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Apple has a consensus rating of "Moderate Buy" and an average target price of $314.85.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $315.32 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. Apple Inc. has a 52-week low of $201.50 and a 52-week high of $317.40. The firm has a 50 day moving average price of $299.55 and a two-hundred day moving average price of $275.29. The stock has a market cap of $4.63 trillion, a P/E ratio of 38.13, a price-to-earnings-growth ratio of 2.74 and a beta of 1.10.

Apple (NASDAQ:AAPL - Get Free Report) last released 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. The firm had revenue of $111.18 billion during 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 company's revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.65 earnings per share. As a group, equities analysts forecast that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The business 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. The ex-dividend date was Monday, May 11th. This is a positive change 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%. Apple's dividend payout ratio (DPR) is currently 13.06%.

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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