Cane Capital Partners LLC Has $10.95 Million Stake in Apple Inc. $AAPL

Cane Capital Partners LLC raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 7.2% in the first quarter, Holdings Channel reports. The institutional investor owned 43,149 shares of the iPhone maker’s stock after buying an additional 2,914 shares during the quarter. Apple accounts for about 4.8% of Cane Capital Partners LLC’s holdings, making the stock its 5th biggest position. Cane Capital Partners LLC’s holdings in Apple were worth $10,951,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Lifetime Wealth Management P.C. bought a new stake in shares of Apple during the fourth quarter valued at approximately $41,000. ROSS JOHNSON & Associates LLC lifted its position in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares in the last quarter. Timmons Wealth Management LLC bought a new position in Apple in the 4th quarter valued at approximately $69,000. LSV Asset Management purchased a new stake in Apple during the 4th quarter valued at $65,000. Finally, Inspire Investing LLC bought a new stake in shares of Apple in the 4th quarter worth $76,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s new lawsuit against OpenAI could help protect its hardware roadmap and reinforce its control over proprietary technology, which may support its long-term competitive position. Reuters: Apple sues OpenAI, two former employees for trade secrets theft
• Positive Sentiment: Recent headlines around Apple’s expanded multi-year chip deal with Broadcom continue to boost sentiment, since the agreement strengthens Apple’s supply chain, supports U.S. manufacturing, and deepens its custom silicon strategy. Yahoo Finance: Apple Secures Largest Ever US Chip Deal With Broadcom For $30 Billion
• Neutral Sentiment: Apple was also named among approved U.S. companies eligible for license-free exports under eased UAE trade rules, which is supportive for international operations but not clearly a near-term stock catalyst. Quiver Quant: U.S. eases export controls on UAE
• Neutral Sentiment: Short-interest data showed no meaningful change, suggesting today’s move is being driven more by news flow than by a shift in bearish positioning.
• Negative Sentiment: The OpenAI lawsuit also highlights that Apple’s relationship with a major AI player has soured, adding uncertainty around future AI partnerships and potentially distracting management with litigation. Financial Times: Apple sues OpenAI, alleging it stole top-secret information

Analysts Set New Price Targets

Several research firms recently commented on AAPL. Morgan Stanley reaffirmed an “overweight” rating on shares of Apple in a research report on Friday, June 26th. Citigroup reaffirmed a “buy” rating on shares of Apple in a report on Monday, June 1st. DA Davidson reissued a “neutral” rating and set a $270.00 price objective on shares of Apple in a report on Friday, May 1st. Monness Crespi & Hardt increased their price objective on shares of Apple from $315.00 to $335.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $276.00 target price on shares of Apple in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $314.85.

Insider Buying and Selling at Apple

In other Apple news, insider Ben Borders sold 116 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total transaction 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. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 company’s 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 sale, the chief financial officer owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. The trade was a 10.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 2,924 shares of company stock valued at $825,546 over the last 90 days. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

Shares of NASDAQ:AAPL traded down $0.90 during trading on Friday, hitting $315.32. The company’s stock had a trading volume of 34,104,441 shares, compared to its average volume of 60,736,044. The company has a 50-day moving average of $299.55 and a 200-day moving average of $275.26. Apple Inc. has a 12 month low of $201.50 and a 12 month high of $317.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The firm has a market cap of $4.63 trillion, a price-to-earnings ratio of 38.13, a P/E/G ratio of 2.74 and a beta of 1.10.

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

Apple Increases Dividend

The firm also recently disclosed 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. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. 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. Apple’s payout ratio is presently 13.06%.

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.