Apple Inc. $AAPL Stock Position Trimmed by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,681,007 shares of the iPhone maker’s stock after selling 11,108 shares during the period. Apple makes up about 5.6% of Oregon Public Employees Retirement Fund’s holdings, making the stock its 2nd biggest position. Oregon Public Employees Retirement Fund’s holdings in Apple were worth $426,623,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Overbrook Management Corp raised its holdings in Apple by 57.4% during the fourth quarter. Overbrook Management Corp now owns 104,648 shares of the iPhone maker’s stock worth $28,449,000 after purchasing an additional 38,174 shares during the last quarter. Rainier Family Wealth Inc. boosted its position in Apple by 14.1% during the first quarter. Rainier Family Wealth Inc. now owns 24,386 shares of the iPhone maker’s stock worth $6,189,000 after purchasing an additional 3,014 shares in the last quarter. Torren Management LLC acquired a new stake in Apple in the fourth quarter valued at $1,178,000. Summit Wealth Partners LLC grew its holdings in Apple by 108.3% in the first quarter. Summit Wealth Partners LLC now owns 34,989 shares of the iPhone maker’s stock valued at $8,880,000 after purchasing an additional 18,188 shares during the last quarter. Finally, Adventist Health System Sunbelt Healthcare Corp purchased a new position in shares of Apple in the fourth quarter valued at $105,482,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple is reportedly launching a new device leasing program with Klarna, a major change to how it sells hardware that could support upgrade demand and recurring device sales. Reuters: Apple to launch ‘Upgrade’ device leasing program to spur sales, Bloomberg News reports
• Positive Sentiment: HSBC upgraded Apple, saying it is entering a powerful new upgrade cycle supported by AI and a strong hardware roadmap. Barchart: HSBC Says Apple Is Entering a Powerful New Upgrade Cycle
• Positive Sentiment: Several commentators highlighted Apple’s pricing power, strong installed base, and relative insulation from the AI capex arms race as reasons investors are favoring AAPL over some other mega-cap tech names. MarketBeat: Apple Stock Sends Major Warning Signal as Momentum Hits Peak

Apple Stock Performance

NASDAQ AAPL opened at $327.74 on Wednesday. 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 Inc. has a fifty-two week low of $201.50 and a fifty-two week high of $334.99. The business has a fifty day moving average of $304.95 and a 200-day moving average of $277.89. The stock has a market cap of $4.81 trillion, a price-to-earnings ratio of 39.63, a price-to-earnings-growth ratio of 2.84 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 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The business had revenue of $111.18 billion for the quarter, compared to analyst estimates of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.65 earnings per share. As a group, analysts predict that Apple Inc. will post 8.76 earnings per share for the current fiscal 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 issued a $0.27 dividend. This is a positive change from Apple’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a yield of 0.3%. Apple’s payout ratio is currently 13.06%.

Analyst Ratings Changes

Several research analysts have recently issued reports on AAPL shares. TD Cowen lifted their price target on Apple from $335.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. KGI Securities cut shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 price objective on the stock. in a research note on Monday, June 22nd. Maxim Group restated a “buy” rating and set a $350.00 target price (up from $310.00) on shares of Apple in a report on Tuesday, June 9th. DA Davidson restated a “neutral” rating and set a $270.00 target price on shares of Apple in a research report on Friday, May 1st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Apple in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $325.71.

Insider Activity

In other Apple news, insider Ben Borders sold 116 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the sale, the insider directly owned 38,713 shares of the company’s stock, valued at $11,425,754.82. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 Apple stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the sale, the chief financial officer owned 13,366 shares of the company’s stock, valued at approximately $3,675,650. This trade represents a 10.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,924 shares of company stock worth $825,546 over the last ninety days. 0.06% of the stock is owned by corporate insiders.

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.