Illinois Municipal Retirement Fund Acquires 106,491 Shares of Apple Inc. $AAPL

Illinois Municipal Retirement Fund increased its holdings in Apple Inc. (NASDAQ:AAPL) by 10.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,154,968 shares of the iPhone maker’s stock after purchasing an additional 106,491 shares during the period. Apple accounts for 3.7% of Illinois Municipal Retirement Fund’s investment portfolio, making the stock its 2nd biggest position. Illinois Municipal Retirement Fund’s holdings in Apple were worth $293,119,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Reyes Financial Architecture Inc. increased its stake in shares of Apple by 0.4% during the 3rd quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker’s stock valued at $2,520,000 after acquiring an additional 37 shares during the last quarter. WESPAC Advisors LLC lifted its holdings in shares of Apple by 0.3% during the 4th quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker’s stock worth $3,351,000 after acquiring an additional 39 shares during the period. Interactive Financial Advisors Inc. boosted its position in shares of Apple by 4.0% in the fourth quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker’s stock worth $286,000 after acquiring an additional 40 shares during the last quarter. Sugar Maple Asset Management LLC boosted its position in shares of Apple by 2.0% in the first quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker’s stock worth $515,000 after acquiring an additional 40 shares during the last quarter. Finally, Orion Investment Co grew its holdings in Apple by 0.3% in the fourth quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker’s stock valued at $3,902,000 after purchasing an additional 41 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple reported record June-quarter revenue of $109.4 billion, up 16.4% year over year, and diluted EPS of $2.02, exceeding Wall Street expectations. iPhone revenue rose 22% to $54.3 billion, while Mac revenue increased 29% to $10.4 billion. Apple reports third quarter results
• Positive Sentiment: Apple’s large installed base, strong hardware demand and potential consumer-AI opportunities remain long-term supports. Some analysts remain bullish: TD Cowen raised its price target to $400, while other firms maintained Buy or Overweight ratings despite trimming estimates. Analyst raises Apple price target
• Positive Sentiment: The company declared a quarterly dividend of $0.27 per share, payable August 13 to shareholders of record August 10. Apple also continues to emphasize an AI strategy that requires less capital spending than the infrastructure-heavy approach used by some peers. Apple Q3 financial results

Apple Stock Down 7.4%

AAPL opened at $308.91 on Friday. Apple Inc. has a 1 year low of $201.50 and a 1 year high of $344.57. The firm has a 50 day moving average price of $309.51 and a 200 day moving average price of $281.45. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The company has a market cap of $4.54 trillion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 2.88 and a beta of 1.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 142.29%. The firm had revenue of $109.42 billion for the quarter, compared to analysts’ expectations of $109.04 billion. During the same period in the previous year, the company posted $1.57 earnings per share. Apple’s revenue was up 16.4% compared to the same quarter last year. Sell-side analysts expect that Apple Inc. will post 8.76 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, August 10th. Apple’s dividend payout ratio (DPR) is currently 12.39%.

Insider Buying and Selling at Apple

In related news, insider Ben Borders sold 1,274 shares of Apple stock in a transaction 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 owned 38,713 shares in the company, valued at approximately $11,226,770. The trade was a 3.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on AAPL. Raymond James Financial reaffirmed a “market perform” rating on shares of Apple in a research report on Friday. DA Davidson reiterated a “neutral” rating and issued a $270.00 price target on shares of Apple in a report on Friday. The Goldman Sachs Group reissued a “buy” rating and set a $360.00 price objective (down from $370.00) on shares of Apple in a research note on Friday. Royal Bank Of Canada set a $365.00 price objective on Apple in a report on Wednesday, July 15th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Apple in a research report on Wednesday, July 15th. One 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $331.60.

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.