Apple Inc. $AAPL Holdings Raised by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC increased its holdings in Apple Inc. (NASDAQ:AAPL) by 1.6% during the 1st quarter, HoldingsChannel reports. The fund owned 107,787 shares of the iPhone maker’s stock after acquiring an additional 1,701 shares during the quarter. Apple comprises approximately 6.1% of Plimoth Trust Co. LLC’s investment portfolio, making the stock its largest holding. Plimoth Trust Co. LLC’s holdings in Apple were worth $27,355,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in AAPL. Norges Bank acquired a new stake in Apple during the fourth quarter valued at approximately $52,266,468,000. Nuveen LLC bought a new stake in Apple in the first quarter valued at $17,472,482,000. Cardano Risk Management B.V. lifted its position in Apple by 890.7% in the 4th quarter. Cardano Risk Management B.V. now owns 41,984,810 shares of the iPhone maker’s stock valued at $11,413,990,000 after purchasing an additional 37,746,784 shares during the last quarter. 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 valued at $5,553,753,000 after buying an additional 26,937,401 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Apple by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock valued at $387,749,545,000 after acquiring an additional 26,856,752 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AAPL shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research note on Tuesday, June 9th. Maxim Group reiterated a “buy” rating and issued a $350.00 price target (up from $310.00) on shares of Apple in a research report on Tuesday, June 9th. Bank of America reiterated a “buy” rating and set a $380.00 price objective on shares of Apple in a research report on Thursday, June 18th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $310.00 target price (up from $300.00) on shares of Apple in a research note on Friday, May 1st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $400.00 price target on shares of Apple in a research note on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $314.26.

Insider Buying and Selling at Apple

In related news, CFO Kevan Parekh sold 1,534 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ben Borders sold 1,274 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $290.00, for a total transaction of $369,460.00. Following the transaction, the insider directly owned 38,713 shares of the company’s stock, valued at $11,226,770. The trade was a 3.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 2,924 shares of company stock valued at $825,546. 0.06% of the stock is owned by company insiders.

Apple News Summary

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 Trading Up 4.0%

Apple stock opened at $327.50 on Thursday. Apple Inc. has a 52 week low of $201.50 and a 52 week high of $328.73. The firm has a market capitalization of $4.81 trillion, a PE ratio of 39.60, a PEG ratio of 2.74 and a beta of 1.10. The business’s 50-day simple moving average is $301.89 and its 200-day simple moving average is $276.27. 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 posted its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.06. The company 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%.Apple’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.65 earnings per share. Equities research analysts forecast that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

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