Petros Family Wealth LLC Has $6.76 Million Stock Position in Apple Inc. $AAPL

Petros Family Wealth LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 14.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 26,655 shares of the iPhone maker’s stock after selling 4,636 shares during the period. Apple makes up approximately 4.8% of Petros Family Wealth LLC’s holdings, making the stock its 2nd biggest position. Petros Family Wealth LLC’s holdings in Apple were worth $6,765,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of AAPL. Reyes Financial Architecture Inc. boosted its position in shares of Apple by 0.4% during the 3rd quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock valued at $2,520,000 after purchasing an additional 37 shares in the last quarter. WESPAC Advisors LLC increased its holdings in Apple by 0.3% in the fourth 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 in the last quarter. Interactive Financial Advisors Inc. increased its holdings in Apple by 4.0% in the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock worth $286,000 after purchasing an additional 40 shares in the last quarter. Sugar Maple Asset Management LLC increased its holdings in Apple by 2.0% in the first quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker’s stock worth $515,000 after purchasing an additional 40 shares in the last quarter. Finally, Orion Investment Co lifted its stake in Apple by 0.3% in the fourth quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker’s stock valued at $3,902,000 after buying an additional 41 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $315.32 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. Apple Inc. has a 52 week low of $201.50 and a 52 week high of $317.40. The business has a 50 day moving average price of $299.55 and a 200-day moving average price of $275.29. The company has a market cap of $4.63 trillion, a price-to-earnings ratio of 38.13, a P/E/G ratio of 2.74 and a beta of 1.10.

Apple (NASDAQ:AAPL) last issued its earnings results 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 return on equity of 146.69% and a net margin of 27.15%.The company had revenue of $111.18 billion for the quarter, compared to analysts’ expectations of $109.46 billion. During the same period last year, the business earned $1.65 EPS. Apple’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, equities analysts expect that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.3%. Apple’s dividend payout ratio is currently 13.06%.

Key Stories 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

Analyst Ratings Changes

Several analysts have recently commented on AAPL shares. Wedbush reaffirmed an “outperform” rating and set a $400.00 price objective on shares of Apple in a research report on Friday, June 5th. DA Davidson reiterated a “neutral” rating and set a $270.00 target price on shares of Apple in a research report on Friday, May 1st. Barclays reissued an “underweight” rating on shares of Apple in a research note on Tuesday, June 9th. Citigroup restated a “buy” rating on shares of Apple in a report on Monday, June 1st. Finally, Maxim Group reaffirmed a “buy” rating and issued a $350.00 price target (up from $310.00) 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 assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $314.85.

Insiders Place Their Bets

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ben Borders sold 1,274 shares of Apple stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the transaction, the insider owned 38,713 shares of the company’s stock, valued at $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 2,924 shares of company stock worth $825,546 over the last ninety days. Insiders own 0.06% of the company’s stock.

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.