Meyer Handelman Co. Sells 3,875 Shares of Apple Inc. $AAPL

Meyer Handelman Co. cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 564,419 shares of the iPhone maker’s stock after selling 3,875 shares during the period. Apple accounts for about 4.5% of Meyer Handelman Co.’s investment portfolio, making the stock its 2nd largest position. Meyer Handelman Co.’s holdings in Apple were worth $143,244,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Reyes Financial Architecture Inc. lifted its stake in Apple by 0.4% in the third quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock valued at $2,520,000 after acquiring an additional 37 shares during the last quarter. WESPAC Advisors LLC increased its stake in shares of Apple by 0.3% during the 4th quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker’s stock worth $3,351,000 after purchasing an additional 39 shares during the last quarter. Interactive Financial Advisors Inc. raised its holdings in shares of Apple by 4.0% during the 4th quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock valued at $286,000 after purchasing an additional 40 shares in the last quarter. Orion Investment Co raised its holdings in shares of Apple by 0.3% during the 4th quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker’s stock valued at $3,902,000 after purchasing an additional 41 shares in the last quarter. Finally, Seven Springs Wealth Group LLC lifted its stake in shares of Apple by 0.3% in the 3rd quarter. Seven Springs Wealth Group LLC now owns 15,451 shares of the iPhone maker’s stock valued at $3,934,000 after purchasing an additional 42 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is reportedly planning at least five new iPhone models through early 2027, including a bigger push into foldables, which could refresh demand and support a stronger upgrade cycle. Apple plans five new iPhones through 2027, eyes Chinese-made chips amid foldable push, reports say
• Positive Sentiment: Several reports say Apple’s stock is rebounding after last week’s selloff, with investors viewing recent price hikes as a way to defend margins rather than a sign of weakening demand. Apple’s Aggressive Price Hikes Raise Eyebrows As Wall Street Links AI Chip Shortages To Inflation Pressure— Ryan Detrick Says ‘This is the Real World Stuff’
• Positive Sentiment: Wall Street commentary remained constructive, with some analysts and strategists pointing to Apple’s AI roadmap, App Store/services growth, and long-term product pipeline as reasons to stay bullish on AAPL. What’s Going on With Apple Stock Thursday?
• Neutral Sentiment: Market rotation matters too: Apple is outperforming a weak tech tape, so some of the stock’s strength may reflect investors rotating into higher-quality mega-cap names rather than a company-specific catalyst alone. Dow Jones Futures: Dow Hits High But AI Tumbles; Apple, Robinhood Are Buys As Tesla, Sandisk Dive
• Negative Sentiment: The main overhang is margin pressure from surging memory and component costs, which has already forced Apple to raise prices on Macs and iPads and could squeeze profitability if costs stay elevated. Is Apple stock in trouble? Rising costs threaten margins, demand
• Negative Sentiment: Investors are also watching reports that Apple may source memory chips from blacklisted Chinese suppliers, a move that highlights the seriousness of the supply shortage and adds geopolitical risk. Russia warns Apple of $52 million fine over alleged bias against local apps

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AAPL shares. Wells Fargo & Company reiterated an “overweight” rating and issued a $310.00 price objective (up from $300.00) on shares of Apple in a report on Friday, May 1st. Maxim Group restated a “buy” rating and set a $350.00 target price (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. KGI Securities cut Apple from an “outperform” rating to a “hold” rating and set a $315.00 price target for the company. in a research report on Monday, June 22nd. Wedbush reiterated an “outperform” rating and set a $400.00 price target on shares of Apple in a research note on Friday, June 5th. Finally, Evercore reissued an “outperform” rating on shares of Apple in a report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average price target of $314.85.

Apple Stock Performance

NASDAQ:AAPL opened at $308.63 on Friday. Apple Inc. has a 1 year low of $201.50 and a 1 year high of $317.40. The firm’s fifty day simple moving average is $294.54 and its 200 day simple moving average is $273.60. 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 capitalization of $4.53 trillion, a PE ratio of 37.32, a PEG ratio of 2.56 and a beta of 1.10.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. The firm had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.65 EPS. On average, sell-side analysts anticipate that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a $0.27 dividend. 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 dividend on an annualized basis and a dividend yield of 0.3%. Apple’s dividend payout ratio is presently 13.06%.

Insider Activity

In other Apple news, insider Ben Borders sold 1,274 shares of the firm’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 value of $369,460.00. Following the sale, the insider owned 38,713 shares of the company’s stock, valued at $11,226,770. This trade represents a 3.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevan Parekh sold 1,534 shares of Apple 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 transaction, the chief financial officer directly 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. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,924 shares of company stock valued at $825,546 in the last three months. 0.06% of the stock is owned by insiders.

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.