Seven Grand Managers LLC Decreases Stock Position in Apple Inc. $AAPL

Seven Grand Managers LLC trimmed its position in Apple Inc. (NASDAQ:AAPL) by 30.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 87,000 shares of the iPhone maker’s stock after selling 38,000 shares during the quarter. Apple comprises 1.8% of Seven Grand Managers LLC’s holdings, making the stock its 16th largest position. Seven Grand Managers LLC’s holdings in Apple were worth $23,652,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Apple during the second quarter worth $38,942,255,000. Nuveen LLC purchased a new position in shares of Apple during the first quarter worth $17,472,482,000. Laurel Wealth Advisors LLC raised its holdings in shares of Apple by 20,464.8% during the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock worth $5,553,753,000 after purchasing an additional 26,937,401 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Apple by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock worth $387,749,545,000 after purchasing an additional 26,856,752 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Down 3.6%

Apple stock opened at $290.55 on Wednesday. The stock has a market capitalization of $4.27 trillion, a PE ratio of 35.13, a price-to-earnings-growth ratio of 2.63 and a beta of 1.09. Apple Inc. has a 12 month low of $195.07 and a 12 month high of $317.40. The business has a 50 day simple moving average of $283.19 and a 200-day simple moving average of $271.79. 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 (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The business had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business’s revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.65 earnings per share. On average, analysts anticipate that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given 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 dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 13.06%.

Insider Transactions at Apple

In related news, insider Ben Borders sold 1,274 shares of the business’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 completion of the sale, the insider directly owned 38,713 shares in the company, valued at approximately $11,226,770. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 1,534 shares of the business’s 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 sale, the chief financial officer 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 SEC filing for this sale provides additional information. Insiders have sold a total of 97,759 shares of company stock valued at $24,964,305 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of several recent research reports. Tigress Financial reiterated a “strong-buy” rating and set a $375.00 price target (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. DA Davidson reiterated a “neutral” rating and set a $270.00 price target on shares of Apple in a research report on Friday, May 1st. Morgan Stanley set a $325.00 price target on Apple in a research report on Tuesday. TD Cowen lifted their price target on Apple from $335.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Apple in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $314.59.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Negative Sentiment: Investors were disappointed that Siri’s AI overhaul still appears behind rivals, with launch timing stretching into later this year and some features limited to the U.S. at first. Apple shares slide after big Siri AI reveal
• Negative Sentiment: Analysts warned that Apple is relying on Google Gemini/Nvidia infrastructure for parts of its advanced AI stack, raising questions about how much of the AI value capture Apple keeps in-house. Apple failed to make its AI tool to comply to EU regulations, EU Commission says
• Negative Sentiment: Morgan Stanley said the new Siri features may be held back by older iPhones, limiting the near-term upgrade cycle and the addressable installed base. Apple’s AI Siri will be held back by aging devices, Morgan Stanley says

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.