Sierra Summit Advisors LLC Boosts Position in Apple Inc. $AAPL

Key Points

• Sierra Summit Advisors LLC increased its Apple stake by 13.7% in the first quarter, adding 13,479 shares to bring its total holdings to 111,560 shares worth about $28.3 million.
• Apple remains heavily owned by institutions, with large holders like Vanguard, State Street, and Geode also boosting positions; institutional investors now own 67.73% of the company.
• Analyst sentiment is mixed but broadly positive, with Apple carrying a Moderate Buy consensus and an average price target of $313.11, while the latest quarter beat earnings and revenue estimates.

Sierra Summit Advisors LLC boosted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 13.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,560 shares of the iPhone maker's stock after purchasing an additional 13,479 shares during the period. Apple comprises 4.1% of Sierra Summit Advisors LLC's investment portfolio, making the stock its 2nd largest position. Sierra Summit Advisors LLC's holdings in Apple were worth $28,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Vanguard Group Inc. raised its holdings in Apple by 1.9% during the 4th 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 during the last quarter. State Street Corp grew its holdings in Apple by 1.1% in the 4th 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 during the last quarter. Geode Capital Management LLC increased its position in shares of Apple by 0.5% in 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 increased its position in shares of Apple by 0.6% in 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 bought a new position in shares of Apple during the fourth quarter valued at about $52,266,468,000. Institutional investors own 67.73% of the company's stock.

Insider Transactions at Apple

In other 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 sale, the insider directly owned 38,713 shares of the company's stock, valued at $11,425,754.82. The trade was a 0.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of the company's stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the sale, the chief financial officer owned 13,366 shares in the company, valued at $3,675,650. The trade was a 10.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 2,924 shares of company stock worth $825,546. Corporate insiders own 0.06% of the company's stock.

Analyst Ratings Changes

AAPL has been the subject of a number of analyst reports. Barclays reiterated an "underweight" rating on shares of Apple in a report on Tuesday, June 9th. UBS Group set a $250.00 price target on Apple in a research report on Tuesday. Oppenheimer reiterated a "market perform" rating on shares of Apple in a report on Tuesday, June 9th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Apple in a research report on Monday, June 8th. Finally, KeyCorp lowered Apple from a "sector weight" rating to an "underweight" rating and set a $250.00 price objective on the stock. in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $313.11.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Citi raised its price target on Apple to $365 and kept a Buy rating, arguing the company can keep gaining market share and may benefit from premium iPhone pricing and Apple Intelligence upside. Article Title
• Positive Sentiment: Apple continues to show strong smartphone performance, including record Q2 market share in China and reports that it has outperformed the broader smartphone slump, which supports the case for resilient demand. Article Title
• Positive Sentiment: Investors are also focusing on potential future catalysts such as a possible iPhone price increase and new product cycles, including foldable iPhone plans and AI-focused chip development. Article Title
• Neutral Sentiment: Apple’s lawsuit against OpenAI is keeping the stock in the headlines; it could protect Apple’s intellectual property and slow a competitor’s hardware push, but it also adds legal uncertainty. Article Title
• Neutral Sentiment: Broadcom’s multiyear chip agreement was described as strategically positive for Apple’s AI silicon efforts, but it is more of a longer-term support story than a direct near-term stock mover. Article Title
• Negative Sentiment: KeyBanc’s downgrade and related bearish commentary from other firms are the clearest reasons Apple stock is lower, with analysts warning that slowing iPhone upgrades and softer Services growth could limit further upside. Article Title

Apple Stock Performance

Shares of AAPL stock opened at $314.86 on Wednesday. The company's fifty day moving average price is $301.09 and its 200-day moving average price is $275.89. The stock has a market cap of $4.62 trillion, a PE ratio of 38.07, a price-to-earnings-growth ratio of 2.76 and a beta of 1.10. 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 Inc. has a 12 month low of $201.50 and a 12 month high of $323.45.

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, topping 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 company had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. During the same period last year, the business earned $1.65 EPS. Apple's quarterly revenue was up 16.6% compared to the same quarter last year. On average, equities analysts expect that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. This is a boost from Apple's previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. Apple's dividend payout ratio is currently 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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