Choate Investment Advisors Sells 6,930 Shares of Apple Inc. $AAPL

Choate Investment Advisors cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 623,374 shares of the iPhone maker’s stock after selling 6,930 shares during the period. Apple makes up about 3.3% of Choate Investment Advisors’ portfolio, making the stock its 5th largest holding. Choate Investment Advisors’ holdings in Apple were worth $169,470,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Rooted Wealth Advisors Inc. grew its position in shares of Apple by 1.1% during the 4th quarter. Rooted Wealth Advisors Inc. now owns 16,422 shares of the iPhone maker’s stock valued at $4,541,000 after acquiring an additional 179 shares during the period. CYBER HORNET ETFs LLC grew its position in shares of Apple by 4.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 43,694 shares of the iPhone maker’s stock valued at $11,879,000 after acquiring an additional 2,008 shares during the period. Churchill Financial Advisors LLC acquired a new stake in shares of Apple during the 4th quarter valued at about $17,152,000. RHL Group LLC acquired a new stake in shares of Apple during the 4th quarter valued at about $1,051,000. Finally, Robinson Smith Wealth Advisors LLC grew its position in shares of Apple by 8.1% during the 4th quarter. Robinson Smith Wealth Advisors LLC now owns 10,997 shares of the iPhone maker’s stock valued at $2,990,000 after acquiring an additional 820 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AAPL shares. Rosenblatt Securities raised their target price on Apple from $268.00 to $276.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. UBS Group reiterated a “neutral” rating on shares of Apple in a research note on Wednesday, June 3rd. DA Davidson reiterated a “neutral” rating and set a $270.00 price objective on shares of Apple in a research note on Friday, May 1st. Wedbush reiterated an “outperform” rating and set a $400.00 price objective on shares of Apple in a research note on Friday. Finally, Citigroup reiterated a “buy” rating on shares of Apple in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $312.82.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s new Siri AI and broader Apple Intelligence rollout could improve user engagement, strengthen the ecosystem, and support longer-term monetization across its large installed base. Apple introduces Siri AI, a profoundly more capable and personal assistant
• Positive Sentiment: Wedbush and other bullish analysts said the WWDC announcements could unlock significant AI-driven upside, with one note calling the event a potential catalyst for meaningful monetization across Apple’s installed base. AI Could Add $75-$100 to Apple Stock (AAPL), Says Top Wedbush Analyst after WWDC Event
• Neutral Sentiment: Apple expanded developer tools and AI frameworks, including cheaper access to its Foundation Models for smaller developers, which may help grow the ecosystem but is unlikely to move near-term earnings immediately. Apple bets cheaper AI will woo small developers
• Negative Sentiment: The market’s reaction suggests investors wanted a bigger AI breakthrough; several reports said Apple shares faded after the announcements as the new platform was seen as underwhelming versus high expectations. Apple (AAPL) Stock Slides after New AI Platform Underwhelms
• Negative Sentiment: Apple is still being viewed as late to AI, and some coverage framed WWDC as catch-up rather than a clear leadership moment, raising concerns that the announcements may not be enough to drive a new wave of hardware upgrades right away. Apple plays catch-up at WWDC

Insider Buying and Selling

In other news, insider Ben Borders sold 1,274 shares of the business’s 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 $11,226,770. The trade was a 3.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevan Parekh sold 1,534 shares of the business’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 transaction, the chief financial officer owned 13,366 shares in the company, valued at approximately $3,675,650. This represents a 10.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 97,759 shares of company stock valued at $24,964,305. 0.06% of the stock is currently owned by company insiders.

Apple Price Performance

NASDAQ:AAPL opened at $301.54 on Tuesday. Apple Inc. has a 12 month low of $195.07 and a 12 month high of $317.40. The stock has a 50 day moving average of $282.36 and a two-hundred day moving average of $271.63. 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 firm has a market cap of $4.43 trillion, a P/E ratio of 36.46, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.06. The business had revenue of $111.18 billion for 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.65 EPS. On average, analysts expect that Apple Inc. will post 8.74 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. Stockholders of record on Monday, May 11th were issued a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. This is an increase from Apple’s previous quarterly dividend of $0.26. Apple’s payout ratio is presently 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.