Apple Inc. $AAPL is Banyan Capital Management Inc.’s 8th Largest Position

Banyan Capital Management Inc. cut its position in Apple Inc. (NASDAQ:AAPL) by 4.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,631 shares of the iPhone maker’s stock after selling 2,067 shares during the period. Apple accounts for 4.6% of Banyan Capital Management Inc.’s investment portfolio, making the stock its 8th largest holding. Banyan Capital Management Inc.’s holdings in Apple were worth $10,566,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Glass Wealth Management Co LLC raised its stake in Apple by 3.9% during the 1st quarter. Glass Wealth Management Co LLC now owns 44,404 shares of the iPhone maker’s stock worth $11,269,000 after acquiring an additional 1,647 shares in the last quarter. Sovran Advisors LLC grew its holdings in shares of Apple by 11.1% during the first quarter. Sovran Advisors LLC now owns 114,881 shares of the iPhone maker’s stock worth $31,173,000 after purchasing an additional 11,492 shares during the last quarter. Signature Resources Capital Management LLC grew its holdings in shares of Apple by 5.0% during the first quarter. Signature Resources Capital Management LLC now owns 3,538 shares of the iPhone maker’s stock worth $898,000 after purchasing an additional 167 shares during the last quarter. S. R. Schill & Associates increased its position in shares of Apple by 44.1% during the first quarter. S. R. Schill & Associates now owns 1,151 shares of the iPhone maker’s stock worth $292,000 after purchasing an additional 352 shares in the last quarter. Finally, Summit Financial Strategies Inc. increased its position in shares of Apple by 1.8% during the first quarter. Summit Financial Strategies Inc. now owns 70,124 shares of the iPhone maker’s stock worth $17,797,000 after purchasing an additional 1,212 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on AAPL shares. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $250.00 target price for the company. in a research report on Tuesday, July 14th. Tigress Financial reaffirmed 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. UBS Group set a $365.00 price objective on Apple in a research note on Tuesday. Jefferies Financial Group reissued a “hold” rating on shares of Apple in a report on Tuesday, June 9th. Finally, Citigroup restated a “buy” rating and set a $365.00 target price (up from $315.00) on shares of Apple in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $327.40.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Ford said it will embed Apple Maps into upcoming EVs, expanding Apple’s software reach and reinforcing the value of its ecosystem. Ford Embeds Apple Maps Directly into Upcoming EVs
• Positive Sentiment: Baird raised its price target on Apple and reiterated an Outperform rating, adding to bullish analyst momentum. Finviz
• Positive Sentiment: Commentary highlighted Apple as outperforming the broader market, supported by strong ratings and a favorable chart setup ahead of earnings. Why is Apple stock outperforming the broader market?
• Neutral Sentiment: Apple was also the subject of discussion around upcoming product launches, AI features, and a possible device-leasing program, which could support demand but remain unconfirmed or longer-term in nature.
• Negative Sentiment: Some reports noted concerns that Apple’s valuation is stretched heading into earnings, and insider sales plus short-interest chatter may temper enthusiasm if results disappoint.

Apple Stock Performance

Shares of AAPL stock opened at $333.02 on Friday. The stock’s 50-day moving average price is $306.62 and its 200 day moving average price is $279.01. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $4.89 trillion, a PE ratio of 40.27, a price-to-earnings-growth ratio of 2.88 and a beta of 1.10. Apple Inc. has a 52-week low of $201.50 and a 52-week high of $334.99.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share 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 during the quarter, compared to analysts’ expectations of $109.46 billion. During the same period last year, the firm earned $1.65 EPS. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 8.76 EPS for the current year.

Apple Increases Dividend

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

Insider Buying and Selling at Apple

In related news, insider Ben Borders sold 116 shares of Apple stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total value of $34,236.24. Following the transaction, the insider directly owned 38,713 shares in the company, valued at $11,425,754.82. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.06% of the stock is currently owned by corporate insiders.

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.