Triangle Securities Wealth Management Decreases Stake in Apple Inc. $AAPL

Triangle Securities Wealth Management cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 50.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,102 shares of the iPhone maker’s stock after selling 30,621 shares during the period. Apple makes up about 1.7% of Triangle Securities Wealth Management’s portfolio, making the stock its 13th biggest holding. Triangle Securities Wealth Management’s holdings in Apple were worth $7,640,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Isthmus Partners LLC grew its holdings in shares of Apple by 6.4% in the third quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker’s stock valued at $25,000 after purchasing an additional 5,808 shares in the last quarter. Lifetime Wealth Management P.C. bought a new stake in Apple in the fourth quarter worth $41,000. ROSS JOHNSON & Associates LLC raised its stake in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares in the last quarter. LSV Asset Management purchased a new stake in Apple during the fourth quarter valued at $65,000. Finally, Timmons Wealth Management LLC bought a new position in Apple during the fourth quarter valued at $69,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Up 4.8%

Shares of AAPL opened at $308.63 on Friday. The firm has a fifty day moving average price of $294.54 and a 200-day moving average price of $273.60. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $4.53 trillion, a P/E ratio of 37.32, a P/E/G ratio of 2.56 and a beta of 1.10. Apple Inc. has a 12-month low of $201.50 and a 12-month high of $317.40.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $109.46 billion. During the same quarter last year, the firm posted $1.65 EPS. The firm’s revenue was up 16.6% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post 8.74 earnings per share for the current year.

Apple Increases Dividend

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

Key Stories Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is reportedly planning at least five new iPhone models through early 2027, including a bigger push into foldables, which could refresh demand and support a stronger upgrade cycle. Apple plans five new iPhones through 2027, eyes Chinese-made chips amid foldable push, reports say
• Positive Sentiment: Several reports say Apple’s stock is rebounding after last week’s selloff, with investors viewing recent price hikes as a way to defend margins rather than a sign of weakening demand. Apple’s Aggressive Price Hikes Raise Eyebrows As Wall Street Links AI Chip Shortages To Inflation Pressure— Ryan Detrick Says ‘This is the Real World Stuff’
• Positive Sentiment: Wall Street commentary remained constructive, with some analysts and strategists pointing to Apple’s AI roadmap, App Store/services growth, and long-term product pipeline as reasons to stay bullish on AAPL. What’s Going on With Apple Stock Thursday?
• Neutral Sentiment: Market rotation matters too: Apple is outperforming a weak tech tape, so some of the stock’s strength may reflect investors rotating into higher-quality mega-cap names rather than a company-specific catalyst alone. Dow Jones Futures: Dow Hits High But AI Tumbles; Apple, Robinhood Are Buys As Tesla, Sandisk Dive
• Negative Sentiment: The main overhang is margin pressure from surging memory and component costs, which has already forced Apple to raise prices on Macs and iPads and could squeeze profitability if costs stay elevated. Is Apple stock in trouble? Rising costs threaten margins, demand
• Negative Sentiment: Investors are also watching reports that Apple may source memory chips from blacklisted Chinese suppliers, a move that highlights the seriousness of the supply shortage and adds geopolitical risk. Russia warns Apple of $52 million fine over alleged bias against local apps

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Evercore restated an “outperform” rating on shares of Apple in a report on Monday, June 8th. Robert W. Baird set a $310.00 price target on shares of Apple in a report on Friday, May 1st. KeyCorp reissued a “sector weight” rating on shares of Apple in a research note on Tuesday, June 9th. Monness Crespi & Hardt upped their price objective on Apple from $315.00 to $335.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Citigroup reiterated a “buy” rating on shares of Apple in a report on Monday, June 1st. One 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 given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $314.85.

Insider Transactions at Apple

In other news, insider Ben Borders sold 1,274 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were 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 approximately $11,226,770. This trade represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevan Parekh sold 1,534 shares of Apple stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the sale, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at $3,675,650. This represents a 10.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,924 shares of company stock worth $825,546 over the last 90 days. Insiders own 0.06% of the company’s stock.

About Apple

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.