Sierra Summit Advisors LLC Has $26.66 Million Stock Position in Apple Inc. $AAPL

Key Points

• Sierra Summit Advisors reduced its Apple stake by 9.2% in the fourth quarter, but still held 98,081 shares worth about $26.66 million, making Apple its second-largest position.
• Apple continues to attract major institutional support, with firms like Vanguard, State Street, Geode, and Northern Trust increasing holdings; overall, 67.73% of Apple’s stock is owned by institutions.
• Recent sentiment around Apple remains mixed but upbeat on growth catalysts, as analysts and investors focus on WWDC AI updates, while insiders have also been selling shares and some concerns remain around valuation and regulatory risk.

Sierra Summit Advisors LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 9.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,081 shares of the iPhone maker's stock after selling 9,935 shares during the quarter. Apple accounts for 4.1% of Sierra Summit Advisors LLC's portfolio, making the stock its 2nd largest holding. Sierra Summit Advisors LLC's holdings in Apple were worth $26,664,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Apple by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker's stock worth $387,749,545,000 after acquiring an additional 26,856,752 shares in the last quarter. State Street Corp boosted its position in shares of Apple by 0.9% in the second quarter. State Street Corp now owns 601,249,995 shares of the iPhone maker's stock worth $123,358,461,000 after buying an additional 5,224,229 shares during the period. Geode Capital Management LLC boosted its position in shares of Apple by 1.4% in the second quarter. Geode Capital Management LLC now owns 354,749,794 shares of the iPhone maker's stock worth $72,506,336,000 after buying an additional 4,942,638 shares during the period. Norges Bank acquired a new stake in shares of Apple in the second quarter worth $38,942,255,000. Finally, Northern Trust Corp boosted its position in shares of Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after buying an additional 20,079,472 shares during the period. 67.73% of the stock is owned by institutional investors.

Insider Transactions at Apple

In related news, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the completion of the sale, the chief financial officer owned 13,366 shares of the company's stock, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ben Borders sold 1,274 shares of Apple stock in a transaction on Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following 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. Insiders sold a total of 97,759 shares of company stock worth $24,964,305 in the last ninety days. Company insiders own 0.06% of the company's stock.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Multiple analysts reiterated bullish views on Apple ahead of WWDC, including Goldman Sachs keeping a Buy rating with a $340 target and Evercore ISI lifting its target to $365, citing Apple’s AI roadmap, ecosystem strength, and services growth. Article Title
• Positive Sentiment: Investor expectations remain high that Apple will unveil major AI updates at WWDC, especially a rebuilt Siri and deeper Apple Intelligence features, which could extend the stock’s recent rally. Article Title
• Positive Sentiment: Reports suggest Apple may expand its ecosystem with a native bill-splitting/payment feature in iOS, which could deepen user engagement and strengthen its services revenue stream. Article Title
• Positive Sentiment: Commentary around Apple’s stock has been upbeat, with articles highlighting outperformance versus the S&P 500 and strong demand for iPhones and Macs ahead of the conference. Article Title
• Neutral Sentiment: UBS said not to expect fireworks from WWDC and kept a Neutral rating, suggesting the event may not deliver a near-term stock catalyst if announcements disappoint. Article Title
• Neutral Sentiment: Apple’s recent gains and all-time high have also prompted valuation concerns, with some analysts and commentators warning the shares may already price in a lot of good news. Article Title
• Negative Sentiment: Reuters reported that Apple agreed to submit India business financials in an antitrust case, keeping regulatory risk in focus and raising the possibility of penalties. Article Title
• Negative Sentiment: Competitive headlines from Nvidia, Walmart, and others show mounting pressure on parts of Apple’s ecosystem, including PCs and payments, which could weigh on sentiment if rivals gain traction. Article Title

Apple Price Performance

AAPL opened at $310.26 on Thursday. The stock has a market cap of $4.56 trillion, a price-to-earnings ratio of 37.52, a PEG ratio of 2.74 and a beta of 1.09. Apple Inc. has a 1 year low of $195.07 and a 1 year high of $316.94. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The stock has a fifty day moving average price of $279.10 and a 200 day moving average price of $270.84.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.95 by $0.06. The firm had revenue of $111.18 billion during the quarter, compared to analysts' expectations of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business'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. Analysts forecast that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a dividend of $0.27 per share. The ex-dividend date of this dividend 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 payout ratio is 13.06%.

Analysts Set New Price Targets

AAPL has been the subject of several recent analyst reports. Robert W. Baird set a $310.00 target price on Apple in a research report on Friday, May 1st. TD Cowen reaffirmed a "buy" rating and issued a $335.00 target price (up from $325.00) on shares of Apple in a research report on Friday, May 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research report on Friday, May 1st. Rosenblatt Securities raised their target price on Apple from $268.00 to $276.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. Finally, Stifel Nicolaus set a $330.00 target price on Apple in a research report on Monday, March 2nd. One equities research 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and an average target price of $312.82.

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.

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