Simmons Bank Has $33.12 Million Stock Holdings in Apple Inc. $AAPL

Simmons Bank raised its stake in Apple Inc. (NASDAQ:AAPL) by 1.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 130,494 shares of the iPhone maker’s stock after purchasing an additional 2,205 shares during the quarter. Apple accounts for about 2.2% of Simmons Bank’s portfolio, making the stock its 5th biggest position. Simmons Bank’s holdings in Apple were worth $33,118,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position 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 valued at $387,749,545,000 after purchasing an additional 26,856,752 shares in the last quarter. State Street Corp boosted its holdings in Apple by 1.1% during the fourth quarter. State Street Corp now owns 604,056,505 shares of the iPhone maker’s stock worth $164,218,801,000 after purchasing an additional 6,555,392 shares during the last quarter. Geode Capital Management LLC grew its position in Apple by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker’s stock worth $97,031,587,000 after purchasing an additional 1,866,103 shares in the last quarter. Morgan Stanley increased its stake in Apple by 0.6% in the 4th quarter. Morgan Stanley now owns 230,483,035 shares of the iPhone maker’s stock valued at $62,659,118,000 after buying an additional 1,379,651 shares during the last quarter. Finally, Norges Bank purchased a new stake in Apple in the 4th quarter valued at about $52,266,468,000. Institutional investors own 67.73% of the company’s stock.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: The Broadcom agreement should improve Apple’s supply chain resiliency, reduce reliance on overseas suppliers, and strengthen its domestic manufacturing story. Apple to increase spend with Broadcom to produce billions more U.S. chips
• Positive Sentiment: Wall Street is also taking the deal as a sign that Apple is investing aggressively in its long-term chip and AI infrastructure, which could support future product launches and margin stability. Apple Announces Broadcom Chip Deal Worth More Than $30 Billion
• Neutral Sentiment: Apple also lost an EU court challenge to the bloc’s Digital Markets Act, leaving its App Store and iOS under tougher antitrust obligations in Europe, but investors appear to be focusing more on the chip deal today. EU court rejects Apple’s challenge against EU rules reining in Big Tech
• Neutral Sentiment: Separately, JPMorgan said recent hardware price increases are unlikely to hurt demand, reinforcing the view that Apple’s pricing power remains intact heading into earnings later this month. Apple price hikes unlikely to hurt demand, JPMorgan says as it raises PT

Insider Buying and Selling at Apple

In related news, insider Ben Borders sold 116 shares of Apple stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the sale, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. This trade represents a 0.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction dated 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 owned 13,366 shares in the company, valued at $3,675,650. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 2,924 shares of company stock worth $825,546. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Up 0.9%

Apple stock opened at $313.39 on Thursday. Apple Inc. has a twelve month low of $201.50 and a twelve month high of $317.40. The firm has a 50 day moving average price of $297.74 and a 200-day moving average price of $274.68. The company has a market capitalization of $4.60 trillion, a P/E ratio of 37.89, a P/E/G ratio of 2.70 and a beta of 1.10. 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 (NASDAQ:AAPL) last posted its quarterly earnings results 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 company had revenue of $111.18 billion for the quarter, compared to analysts’ expectations of $109.46 billion. During the same quarter in the previous year, the firm posted $1.65 EPS. Apple’s revenue was up 16.6% on a year-over-year basis. As a group, equities analysts predict that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were given a $0.27 dividend. This is an increase from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. Apple’s dividend payout ratio (DPR) is 13.06%.

Analysts Set New Price Targets

Several research firms have commented on AAPL. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research report on Tuesday, June 9th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $276.00 price target on shares of Apple in a research report on Tuesday, June 9th. TD Cowen lifted their price target on Apple from $335.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. BNP Paribas Exane raised Apple from a “neutral” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research report on Friday, April 17th. Finally, DA Davidson restated a “neutral” rating and issued a $270.00 price objective 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 given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $314.85.

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.