Turn8 Private Wealth Inc. Has $885,000 Stock Position in Apple Inc. $AAPL

Key Points

• Turn8 Private Wealth Inc. cut its Apple stake by 80.4% in Q1, selling 14,307 shares and leaving it with 3,488 shares valued at about $885,000.
• Apple is benefiting from several upbeat catalysts, including China approving Apple Intelligence for iPhones and continued enthusiasm around its long-term ecosystem monetization strategy.
• The stock remains supported by solid fundamentals: Apple recently beat quarterly earnings expectations, raised its dividend, and Wall Street still rates it a Moderate Buy with a consensus target price of $318.43.

Turn8 Private Wealth Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 80.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,488 shares of the iPhone maker's stock after selling 14,307 shares during the quarter. Turn8 Private Wealth Inc.'s holdings in Apple were worth $885,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lifetime Wealth Management P.C. acquired a new position in Apple during the 4th quarter worth approximately $41,000. ROSS JOHNSON & Associates LLC grew its stake in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after acquiring an additional 180 shares during the period. LSV Asset Management acquired a new stake in Apple in the fourth quarter valued at approximately $65,000. Timmons Wealth Management LLC bought a new stake in shares of Apple during the fourth quarter valued at approximately $69,000. Finally, Inspire Investing LLC bought a new stake in shares of Apple during the fourth quarter valued at approximately $76,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: China approved Apple Intelligence for iPhones, clearing a major hurdle for Apple’s delayed AI rollout in its biggest international market. Reports also say Alibaba’s Qwen and Baidu models will help power the experience, which should support Apple’s AI adoption story. Alibaba and Baidu shares jump in Hong Kong on Apple AI partnership
• Positive Sentiment: Several market commentators say Apple is benefiting from a “standard oil” style strategy: keep monetizing a massive installed base through hardware, services, and selective ecosystem expansion rather than chasing capital-intensive AI infrastructure. That narrative is helping justify the stock’s record highs. Why Apple's 'Standard Oil' Strategy Is Driving the Stock to All-Time Highs
• Positive Sentiment: Warren Buffett reiterated that Apple remains one of Berkshire Hathaway’s favorite holdings, easing some investor concern about the planned CEO transition from Tim Cook. Warren Buffett Just Reaffirmed Apple as One of His Favorite Stocks
• Neutral Sentiment: KeyCorp raised earnings estimates for Apple for several future periods, but kept an Underweight rating and a $250 price target, signaling improving fundamentals while still warning that valuation is rich. Apple Inc. research notes and analyst updates
• Neutral Sentiment: Apple is reportedly exploring acquisitions of chip startups to strengthen its AI server and custom silicon efforts. That could help long-term competitiveness, but the impact is still speculative. Apple chasing AI chip company deals, The Information reports
• Negative Sentiment: Some reports say Apple’s iPhone manufacturing costs are rising because of higher component prices, and that could pressure margins if Apple can’t fully offset those costs with pricing or mix improvements. Apple's New iPhone Is Going to Cost Significantly More Than Last Year
• Negative Sentiment: Apple is also facing scrutiny from U.S. lawmakers over its China memory-chip sourcing plans, adding a political and supply-chain overhang to the AI and hardware story. AAPL's China Memory Chip Plans Draw National Security Scrutiny

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of recent research reports. KGI Securities cut Apple from an "outperform" rating to a "hold" rating and set a $315.00 target price on the stock. in a report on Monday, June 22nd. Royal Bank Of Canada set a $365.00 price target on shares of Apple in a research note on Wednesday. TD Cowen upped their price objective on shares of Apple from $335.00 to $350.00 and gave the stock a "buy" rating in a report on Tuesday, June 9th. Maxim Group reaffirmed a "buy" rating and issued a $350.00 price objective (up from $310.00) on shares of Apple in a research note on Tuesday, June 9th. Finally, UBS Group set a $250.00 price objective on shares of Apple in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Apple presently has a consensus rating of "Moderate Buy" and a consensus target price of $318.43.

Insider Activity

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the company's stock in a transaction dated Thursday, April 23rd. The shares were 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 directly owned 13,366 shares of the company's stock, valued at approximately $3,675,650. This represents a 10.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ben Borders sold 1,274 shares of Apple stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the transaction, the insider directly owned 38,713 shares in the company, valued at approximately $11,226,770. This represents a 3.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,924 shares of company stock worth $825,546. 0.06% of the stock is owned by corporate insiders.

Apple Trading Up 1.8%

NASDAQ AAPL opened at $333.26 on Friday. The firm has a market capitalization of $4.89 trillion, a P/E ratio of 40.30, a PEG ratio of 2.84 and a beta of 1.10. The business has a fifty day simple moving average of $302.80 and a 200 day simple moving average of $276.70. Apple Inc. has a 12 month low of $201.50 and a 12 month high of $334.68. 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 (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. During the same period in the previous year, the firm earned $1.65 EPS. The business's revenue for the quarter was up 16.6% compared to the same quarter last year. On average, analysts predict that Apple Inc. will post 8.76 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently declared 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. This represents a $1.08 annualized dividend 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 presently 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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