Apple Inc. $AAPL is Lexington Hill Partners LLC’s 7th Largest Position

Lexington Hill Partners LLC boosted its holdings in Apple Inc. (NASDAQ:AAPL) by 11.7% during the first quarter, Holdings Channel.com reports. The fund owned 21,907 shares of the iPhone maker’s stock after buying an additional 2,295 shares during the quarter. Apple accounts for 3.1% of Lexington Hill Partners LLC’s investment portfolio, making the stock its 7th largest holding. Lexington Hill Partners LLC’s holdings in Apple were worth $5,560,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in Apple during the fourth quarter valued at approximately $52,266,468,000. Nuveen LLC bought a new position in shares of Apple in the 1st quarter worth $17,472,482,000. Cardano Risk Management B.V. raised its position in shares of Apple by 890.7% during 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 buying an additional 37,746,784 shares in the last quarter. Laurel Wealth Advisors LLC lifted its holdings in shares of Apple by 20,464.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock worth $5,553,753,000 after acquiring an additional 26,937,401 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Apple by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock worth $387,749,545,000 after acquiring an additional 26,856,752 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Key Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s new Siri and broader AI reset is being viewed positively by analysts, with BofA reiterating a Buy rating and saying the WWDC update could strengthen Apple’s AI position and support the stock. BofA Says Apple’s (AAPL) New Siri Strategy Could Strengthen its AI Position
• Positive Sentiment: Apple’s reported chip partnership with Intel is being framed as strategically important, with investors focused on supply-chain diversification and a longer-term domestic chip roadmap that could benefit future product cycles. Apple-Intel chip deal makes strategic sense but production is years away
• Positive Sentiment: Several market commentaries say Apple shares are building toward a possible breakout, with the stock staying close to its all-time high and forming a fresh buy zone as momentum improves. Apple Stock Polishing New Buy Zone With All-Time High In Sight
• Neutral Sentiment: Apple is also drawing attention for comments from Eddy Cue about expanding entertainment offerings on Apple TV and in theaters, which supports the long-term services story but is not an immediate earnings catalyst. Apple aims for better and more entertainment offerings, executive Cue says
• Negative Sentiment: Investors are still weighing headwinds from rising memory costs and the possibility of iPhone price increases, which could pressure demand if Apple passes through higher component prices. Apple Price Hike Fears May Be Overblown, Says J.P. Morgan
• Negative Sentiment: Apple also faces legal overhang after a UK tribunal allowed a $4 billion iCloud class-action lawsuit to proceed, adding another potential regulatory and financial risk. Apple supplier Lingyi iTech prices $1.06 billion Hong Kong IPO to tap AI demand

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 30,002 shares of Apple stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total value of $7,661,010.70. Following the transaction, the senior vice president directly owned 136,810 shares of the company’s stock, valued at $34,934,433.50. The trade was a 17.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 116 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider owned 38,713 shares of the company’s stock, valued at $11,425,754.82. The trade was a 0.30% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 97,875 shares of company stock valued at $24,998,541. 0.06% of the stock is owned by insiders.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $293.05 on Thursday. 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 cap of $4.30 trillion, a PE ratio of 35.44, a PEG ratio of 2.56 and a beta of 1.09. The company’s fifty day moving average is $291.83 and its 200 day moving average is $273.15. Apple Inc. has a 52 week low of $199.26 and a 52 week high of $317.40.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating 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 business had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. During the same period in the prior year, the business posted $1.65 earnings per share. The company’s revenue was up 16.6% on a year-over-year basis. Research analysts anticipate 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. Stockholders of record on Monday, May 11th were paid a $0.27 dividend. This is a boost from Apple’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio is presently 13.06%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AAPL. Sanford C. Bernstein reissued an “outperform” rating on shares of Apple in a research note on Monday, June 8th. Evercore reiterated an “outperform” rating on shares of Apple in a report on Monday, June 8th. Barclays reiterated an “underweight” rating on shares of Apple in a research report on Tuesday, June 9th. Tigress Financial reissued a “strong-buy” rating and set a $375.00 price objective (up from $305.00) on shares of Apple in a report on Thursday, May 14th. Finally, Oppenheimer restated a “market perform” rating on shares of Apple in a research report on Tuesday, June 9th. One equities 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $314.85.

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.