Seven Mile Advisory Has $12.06 Million Holdings in Apple Inc. $AAPL

Key Points

• Seven Mile Advisory trimmed its Apple stake by 24.6% in the fourth quarter, selling 14,469 shares and leaving it with 44,362 shares valued at about $12.06 million. Apple now represents roughly 2.1% of the firm’s portfolio.
• Apple reported stronger-than-expected quarterly results, with EPS of $2.01 and revenue of $111.18 billion, both ahead of analyst estimates. Revenue rose 16.6% year over year, and analysts still expect $8.75 in EPS for the current fiscal year.
• Wall Street remains broadly bullish on AAPL, with an average “Moderate Buy” rating and an average price target of $314.59. The article also notes a recent dividend increase to $0.27 per share and continued positive commentary around Apple’s AI and product roadmap.

Seven Mile Advisory cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 24.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,362 shares of the iPhone maker's stock after selling 14,469 shares during the period. Apple makes up approximately 2.1% of Seven Mile Advisory's investment portfolio, making the stock its 14th largest holding. Seven Mile Advisory's holdings in Apple were worth $12,060,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Reyes Financial Architecture Inc. grew its stake in shares of Apple by 0.4% during the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker's stock worth $2,520,000 after purchasing an additional 37 shares during the period. WESPAC Advisors LLC grew its stake in Apple by 0.3% in the fourth quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker's stock valued at $3,351,000 after acquiring an additional 39 shares during the period. Interactive Financial Advisors Inc. grew its stake in Apple by 4.0% in the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker's stock valued at $286,000 after acquiring an additional 40 shares during the period. Orion Investment Co grew its stake in Apple by 0.3% in the fourth quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker's stock valued at $3,902,000 after acquiring an additional 41 shares during the period. Finally, Seven Springs Wealth Group LLC grew its stake in Apple by 0.3% in the third quarter. Seven Springs Wealth Group LLC now owns 15,451 shares of the iPhone maker's stock valued at $3,934,000 after acquiring an additional 42 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

AAPL opened at $296.42 on Tuesday. Apple Inc. has a 52-week low of $195.07 and a 52-week high of $317.40. The firm has a market capitalization of $4.35 trillion, a PE ratio of 35.84, a PEG ratio of 2.53 and a beta of 1.09. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The business's 50-day simple moving average is $286.45 and its 200 day simple moving average is $272.38.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results 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. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. During the same quarter in the prior year, the company posted $1.65 earnings per share. Apple's revenue was up 16.6% on a year-over-year basis. As a group, sell-side analysts expect that Apple Inc. will post 8.75 earnings per share 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 issued a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This is a boost from Apple's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.4%. Apple's dividend payout ratio is currently 13.06%.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Wedbush said Apple’s WWDC AI rollout could be the “first step” toward adding as much as $100 to the stock, as investors focus on the company’s AI execution and the potential for a stronger Siri/Apple Intelligence roadmap. Article Title
• Positive Sentiment: Multiple reports on iOS 27 and Apple Intelligence suggest Apple is making progress on features that could improve older iPhones, expand software value, and strengthen the case for users to upgrade into the next product cycle. Article Title
• Positive Sentiment: Analyst commentary remains constructive, with several firms reiterating buy/overweight views and price targets clustered well above current levels, reinforcing a bullish long-term sentiment on AAPL. Article Title
• Neutral Sentiment: Several articles highlight Apple’s strong recent operating performance, including record iPhone demand and services revenue, but these are largely a rehash of prior earnings strength rather than a fresh catalyst. Article Title
• Negative Sentiment: A Yahoo Finance report says rising memory chip costs could pressure Apple’s hardware margins as AI features require more device memory, creating a potential headwind for profitability over the next few quarters. Article Title
• Negative Sentiment: Broader sentiment is also being dampened by articles noting that the Magnificent Seven, including Apple, have been weak in June and have lagged the broader market at times, which can weigh on near-term momentum. Article Title

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AAPL shares. Monness Crespi & Hardt boosted their target price on Apple from $315.00 to $335.00 and gave the company a "buy" rating in a research note on Friday, May 1st. KeyCorp reissued a "sector weight" rating on shares of Apple in a research note on Tuesday, June 9th. Robert W. Baird set a $310.00 target price on Apple in a research note on Friday, May 1st. Maxim Group reissued a "buy" rating and issued a $350.00 target price (up from $310.00) on shares of Apple in a research note on Tuesday, June 9th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Apple in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $314.59.

Insider Buying and Selling

In related news, SVP Deirdre O'brien sold 30,002 shares of the company's stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the sale, the senior vice president owned 136,810 shares in the company, valued at approximately $34,934,433.50. This represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 1,274 shares of the company's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total value of $369,460.00. Following the sale, the insider owned 38,713 shares in the company, valued at $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. Over the last ninety days, insiders have sold 97,759 shares of company stock worth $24,964,305. Insiders own 0.06% of the company's stock.

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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