Northeast Investment Management Sells 18,434 Shares of Apple Inc. $AAPL

Northeast Investment Management reduced its stake in Apple Inc. (NASDAQ:AAPL) by 2.9% in the 1st quarter, Holdings Channel reports. The firm owned 620,176 shares of the iPhone maker’s stock after selling 18,434 shares during the quarter. Apple accounts for approximately 6.5% of Northeast Investment Management’s portfolio, making the stock its 2nd biggest position. Northeast Investment Management’s holdings in Apple were worth $157,394,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Lifetime Wealth Management P.C. purchased a new position in Apple in the 4th quarter worth approximately $41,000. ROSS JOHNSON & Associates LLC raised its stake in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares during the period. Timmons Wealth Management LLC acquired a new position in shares of Apple during the fourth quarter worth $69,000. LSV Asset Management acquired a new position in shares of Apple during the fourth quarter worth $65,000. Finally, Inspire Investing LLC purchased a new position in shares of Apple in the fourth quarter valued at $76,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Reports that Apple plans at least five new iPhone models through early 2027, including a stronger foldable iPhone push, have reinforced expectations for a fresh product cycle and a longer growth runway. Apple plans five new iPhones through 2027, eyes Chinese-made chips amid foldable push, reports say
• Positive Sentiment: Apple also appears to be benefiting from investor optimism that it can navigate the memory-chip shortage and secure supply, including possible deals with lower-cost Chinese chipmakers, which could help protect future production. Apple negotiates with blacklisted Chinese chipmakers amid AI-driven memory crunch
• Positive Sentiment: Several market commentary pieces said Apple is holding up better than the broader tech sector, with traders viewing recent weakness as a buying opportunity and analysts still pointing to solid upside potential. Apple’s Aggressive Price Hikes Raise Eyebrows As Wall Street Links AI Chip Shortages To Inflation Pressure
• Neutral Sentiment: Apple’s recent price hikes on Macs and iPads are being interpreted two ways: as a sign of inflationary component costs, but also as a margin-protection move that may not hurt demand as much as feared. Jim Cramer’s Latest Thought on Apple Inc. (AAPL)
• Neutral Sentiment: Apple’s insider-selling activity and mixed institutional positioning are adding caution, but they are not the main driver of the stock today. Apple Stock (AAPL) Opinions on Recent Price Hikes and Analyst Views
• Negative Sentiment: Some coverage continues to flag pressure on Apple’s margins and demand if higher component costs force more price increases, which could weigh on sentiment over time. Is Apple stock in trouble? Rising costs threaten margins, demand

Insider Transactions at Apple

In related news, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction dated 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 trade represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ben Borders sold 1,274 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the sale, the insider directly owned 38,713 shares of the company’s stock, valued at approximately $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 valued at $825,546 over the last quarter. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. DA Davidson reaffirmed a “neutral” rating and set a $270.00 price target on shares of Apple in a research note on Friday, May 1st. Rosenblatt Securities reissued a “neutral” rating and issued a $276.00 price objective on shares of Apple in a research report on Tuesday, June 9th. Monness Crespi & Hardt raised their target price on Apple from $315.00 to $335.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Citigroup reaffirmed a “buy” rating on shares of Apple in a research report on Monday, June 1st. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $310.00 price target (up from $300.00) on shares of Apple in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $314.85.

Apple Stock Performance

AAPL opened at $308.63 on Friday. The stock has a market capitalization of $4.53 trillion, a PE ratio of 37.32, a P/E/G ratio of 2.68 and a beta of 1.10. The firm’s fifty day moving average price is $295.25 and its 200 day moving average price is $273.85. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. Apple Inc. has a 12-month low of $201.50 and a 12-month high of $317.40.

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

Apple Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a dividend of $0.27 per share. 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. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. Apple’s dividend 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.