Apple Inc. $AAPL Holdings Reduced by Trust Investment Advisors

Trust Investment Advisors trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 7.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,703 shares of the iPhone maker’s stock after selling 5,023 shares during the quarter. Apple makes up approximately 9.8% of Trust Investment Advisors’ holdings, making the stock its 2nd biggest position. Trust Investment Advisors’ holdings in Apple were worth $16,675,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Stegent Equity Advisors Inc. raised its position in shares of Apple by 14.5% during the first quarter. Stegent Equity Advisors Inc. now owns 9,522 shares of the iPhone maker’s stock valued at $2,417,000 after buying an additional 1,204 shares during the last quarter. Alaska Wealth Advisors LLC boosted its position in shares of Apple by 136.2% during the first quarter. Alaska Wealth Advisors LLC now owns 30,239 shares of the iPhone maker’s stock worth $7,674,000 after acquiring an additional 17,438 shares during the last quarter. Merited Wealth LLC grew its stake in Apple by 3.5% during the first quarter. Merited Wealth LLC now owns 6,462 shares of the iPhone maker’s stock valued at $1,640,000 after acquiring an additional 218 shares in the last quarter. Cane Capital Partners LLC grew its stake in Apple by 7.2% during the first quarter. Cane Capital Partners LLC now owns 43,149 shares of the iPhone maker’s stock valued at $10,951,000 after acquiring an additional 2,914 shares in the last quarter. Finally, Vertrix Wealth Management LLC bought a new stake in Apple in the 1st quarter valued at $8,161,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s new lawsuit against OpenAI could help protect its hardware roadmap and reinforce its control over proprietary technology, which may support its long-term competitive position. Reuters: Apple sues OpenAI, two former employees for trade secrets theft
• Positive Sentiment: Recent headlines around Apple’s expanded multi-year chip deal with Broadcom continue to boost sentiment, since the agreement strengthens Apple’s supply chain, supports U.S. manufacturing, and deepens its custom silicon strategy. Yahoo Finance: Apple Secures Largest Ever US Chip Deal With Broadcom For $30 Billion
• Neutral Sentiment: Apple was also named among approved U.S. companies eligible for license-free exports under eased UAE trade rules, which is supportive for international operations but not clearly a near-term stock catalyst. Quiver Quant: U.S. eases export controls on UAE
• Neutral Sentiment: Short-interest data showed no meaningful change, suggesting today’s move is being driven more by news flow than by a shift in bearish positioning.
• Negative Sentiment: The OpenAI lawsuit also highlights that Apple’s relationship with a major AI player has soured, adding uncertainty around future AI partnerships and potentially distracting management with litigation. Financial Times: Apple sues OpenAI, alleging it stole top-secret information

Insider Activity

In other Apple news, insider Ben Borders sold 1,274 shares of the company’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 sale, the insider directly owned 38,713 shares in the company, valued at $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kevan Parekh sold 1,534 shares of the firm’s stock in a transaction that occurred on 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 $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 2,924 shares of company stock valued at $825,546. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on AAPL shares. UBS Group reiterated a “buy” rating on shares of Apple in a research note on Tuesday, June 9th. Monness Crespi & Hardt raised their price objective on Apple from $315.00 to $335.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Maxim Group reaffirmed a “buy” rating and issued a $350.00 target price (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. Evercore reiterated an “outperform” rating on shares of Apple in a research report on Wednesday. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $276.00 price target on shares of Apple in a research note on Tuesday, June 9th. 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 stock. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $314.85.

Apple Price Performance

Apple stock opened at $315.32 on Monday. Apple Inc. has a 52-week low of $201.50 and a 52-week high of $317.40. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The firm’s fifty day moving average is $299.55 and its 200 day moving average is $275.29. The company has a market cap of $4.63 trillion, a price-to-earnings ratio of 38.13, a PEG ratio of 2.74 and a beta of 1.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 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 business had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. During the same period last year, the company posted $1.65 EPS. The business’s revenue was up 16.6% on a year-over-year basis. Sell-side analysts forecast that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. 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. Apple’s payout ratio is 13.06%.

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.