PFG Investments LLC Trims Position in Apple Inc. $AAPL

PFG Investments LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 527,569 shares of the iPhone maker’s stock after selling 4,017 shares during the period. Apple comprises approximately 6.2% of PFG Investments LLC’s investment portfolio, making the stock its biggest position. PFG Investments LLC’s holdings in Apple were worth $133,892,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lifetime Wealth Management P.C. acquired a new stake in Apple during the 4th quarter worth about $41,000. ROSS JOHNSON & Associates LLC raised its position 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 worth $42,000 after purchasing an additional 180 shares during the period. Timmons Wealth Management LLC acquired a new position in Apple during the fourth quarter worth $69,000. LSV Asset Management acquired a new stake in shares of Apple in the 4th quarter worth about $65,000. Finally, Inspire Investing LLC purchased a new stake in shares of Apple in the fourth quarter worth approximately $76,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Transactions at Apple

In related news, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the transaction, the chief financial officer owned 13,366 shares in the company, valued at $3,675,650. The trade was a 10.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ben Borders sold 1,274 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the transaction, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,226,770. This represents a 3.19% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 2,924 shares of company stock worth $825,546. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AAPL shares. Morgan Stanley reissued an “overweight” rating on shares of Apple in a research report on Friday, June 26th. DA Davidson reaffirmed a “neutral” rating and set a $270.00 price target on shares of Apple in a research report on Friday, May 1st. Wells Fargo & Company reaffirmed 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. Sanford C. Bernstein restated an “outperform” rating on shares of Apple in a research note on Monday, June 8th. Finally, Tigress Financial reissued a “strong-buy” rating and issued a $375.00 price target (up from $305.00) on shares of Apple in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.26.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: China approved Apple Intelligence for iPhones, a key regulatory green light that clears the way for Apple’s AI rollout in one of its most important markets and could help support upgrades and Services growth. Reuters: Apple Intelligence AI service registered with China’s cyberspace regulator
• Positive Sentiment: Reports that Apple is exploring acquisitions of AI chip startups to strengthen its server and AI hardware capabilities reinforced the idea that the company is actively investing to remain competitive in AI without a huge data-center spending spree. Reuters: Apple chasing AI chip company deals, The Information reports
• Positive Sentiment: News that Apple may spend about $30 billion through its Broadcom partnership adds confidence in supply-chain security and custom silicon development, which investors see as supportive for future product cycles and margins. Yahoo Finance/Reuters: Apple Plans to Spend $30 Billion in a Deal With Broadcom (AVGO)
• Positive Sentiment: Apple also won dismissal of a high-stakes iCloud-related lawsuit, removing an overhang and improving sentiment around legal risk. Yahoo Finance: Apple Wins Dismissal of iCloud Lawsuit
• Neutral Sentiment: Several media and analyst pieces noted Apple’s stock hitting record highs and trading near a new 52-week high, reflecting strong momentum after a sharp run-up rather than a fresh fundamental surprise. Investopedia: Apple Could Buy an AI Chip Company. Its Hot Stock Just Set a Fresh Record High
• Negative Sentiment: KeyBanc downgraded Apple to Underweight, warning that slowing hardware demand, softer Services growth, and valuation concerns could limit further upside. Yahoo Finance: KeyBanc Downgrades Apple on Growth Concerns

Apple Price Performance

Shares of Apple stock opened at $327.50 on Thursday. The company has a fifty day moving average of $301.89 and a 200-day moving average of $276.27. Apple Inc. has a 52-week low of $201.50 and a 52-week high of $328.73. The stock has a market capitalization of $4.81 trillion, a price-to-earnings ratio of 39.60, a price-to-earnings-growth ratio of 2.74 and a beta of 1.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm had revenue of $111.18 billion for the quarter, compared to the consensus estimate of $109.46 billion. During the same quarter in the previous year, the business earned $1.65 earnings per share. The company’s quarterly revenue was up 16.6% on a year-over-year basis. Equities research analysts expect that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a $0.27 dividend. This is a boost from Apple’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. 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.