PKO Investment Management Joint Stock Co Sells 11,000 Shares of Apple Inc. $AAPL

Key Points

• PKO Investment Management reduced its Apple stake by 5.9% in the first quarter, selling 11,000 shares and leaving it with 175,000 shares worth about $44.4 million.
• Apple has seen continued institutional ownership changes, with major firms like Vanguard, State Street, and Geode adding shares, and hedge funds and other institutions now owning 67.73% of the stock.
• Wall Street remains generally constructive on Apple: analysts currently rate it Moderate Buy on average, while the stock is also trading near the middle of its recent range after a strong quarterly earnings beat and a recent dividend increase.

PKO Investment Management Joint Stock Co cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 5.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 175,000 shares of the iPhone maker's stock after selling 11,000 shares during the period. Apple makes up about 3.7% of PKO Investment Management Joint Stock Co's holdings, making the stock its 3rd biggest position. PKO Investment Management Joint Stock Co's holdings in Apple were worth $44,413,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AAPL. Vanguard Group Inc. boosted its holdings in shares of Apple by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock worth $387,749,545,000 after buying an additional 26,856,752 shares during the period. State Street Corp increased its position in shares of Apple by 1.1% in the fourth quarter. State Street Corp now owns 604,056,505 shares of the iPhone maker's stock worth $164,218,801,000 after acquiring an additional 6,555,392 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Apple by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker's stock valued at $97,031,587,000 after acquiring an additional 1,866,103 shares during the period. Morgan Stanley raised its holdings in shares of Apple by 0.6% during the fourth quarter. Morgan Stanley now owns 230,483,035 shares of the iPhone maker's stock valued at $62,659,118,000 after acquiring an additional 1,379,651 shares during the period. Finally, Norges Bank purchased a new stake in shares of Apple in the 4th quarter valued at approximately $52,266,468,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Some analysts and traders see the recent decline as overdone, arguing that Apple’s pullback has created an attractive entry point and that the stock is oversold at support. Stock Of The Day: Is The Apple Sell-Off Over?
• Positive Sentiment: Morgan Stanley reiterated a Buy rating on AAPL, saying Apple’s pricing and margin-defense strategy supports upside and leaving its $360 target unchanged. Apple Buy Rating Reiterated as Margin Defense Strategy Supports Upside; $360 Price Target Unchanged
• Neutral Sentiment: Wall Street remains divided on the broader implications of Apple’s recent price hikes, with some analysts saying the company can pass through costs thanks to its loyal customer base, while others warn the iPhone will be the real test. Apple Can Get Away With Mac Price Hikes, but iPhone Is the Real Test
• Negative Sentiment: Apple raised prices on several Mac and iPad models because surging memory and storage chip costs tied to AI demand are squeezing margins, raising concerns that higher prices could hurt demand and signal more pressure ahead. Apple raises prices of MacBooks, iPads as memory costs skyrocket
• Negative Sentiment: Apple also lost a key Vision Pro hardware executive to OpenAI, adding to investor concern about execution in its spatial-computing and AI efforts. Apple (AAPL) Loses Key Vision Pro Hardware Chief to OpenAI in Major Talent Blow

Insider Transactions at Apple

In related news, insider Ben Borders sold 116 shares of the business's 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 completion of the sale, the insider owned 38,713 shares of the company's stock, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Deirdre O'brien sold 30,002 shares of the stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total value of $7,661,010.70. Following the completion of the transaction, the senior vice president owned 136,810 shares in the company, valued at $34,934,433.50. This represents a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 97,875 shares of company stock valued at $24,998,541 over the last 90 days. Company insiders own 0.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Citigroup reiterated a "buy" rating on shares of Apple in a research report on Monday, June 1st. KGI Securities lowered Apple from an "outperform" rating to a "hold" rating and set a $315.00 target price for the company. in a report on Monday. Evercore reaffirmed an "outperform" rating on shares of Apple in a research report on Monday, June 8th. Robert W. Baird set a $310.00 price target on Apple in a report on Friday, May 1st. Finally, Oppenheimer reissued a "market perform" 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 assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $314.85.

Apple Trading Up 3.3%

Apple stock opened at $284.29 on Friday. Apple Inc. has a 12 month low of $199.26 and a 12 month high of $317.40. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The stock has a market cap of $4.18 trillion, a P/E ratio of 34.38, a P/E/G ratio of 2.39 and a beta of 1.09. The company's fifty day simple moving average is $292.51 and its 200-day simple moving average is $273.20.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.06. The business had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.Apple's quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the company earned $1.65 earnings per share. As a group, sell-side analysts forecast that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a dividend of $0.27 per share. This is a boost from Apple's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. Apple's dividend payout ratio (DPR) is 13.06%.

Apple Company 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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