Cornell Pochily Investment Advisors Inc. Trims Holdings in Apple Inc. $AAPL

Cornell Pochily Investment Advisors Inc. lowered its stake in Apple Inc. (NASDAQ:AAPL) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,596 shares of the iPhone maker’s stock after selling 2,829 shares during the period. Apple makes up approximately 7.6% of Cornell Pochily Investment Advisors Inc.’s holdings, making the stock its largest holding. Cornell Pochily Investment Advisors Inc.’s holdings in Apple were worth $25,784,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Apple during the fourth quarter valued at approximately $52,266,468,000. Nuveen LLC purchased a new position in Apple during the 1st quarter valued at about $17,472,482,000. Cardano Risk Management B.V. boosted its position in shares of 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 worth $11,413,990,000 after purchasing an additional 37,746,784 shares in the last quarter. Laurel Wealth Advisors LLC boosted its holdings in Apple by 20,464.8% in the second 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 in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Apple by 1.9% in the 4th 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 during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Deirdre O’brien sold 30,002 shares of the company’s stock in a transaction dated 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 completion of the transaction, the senior vice president owned 136,810 shares of the company’s stock, valued at approximately $34,934,433.50. This represents a 17.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 1,274 shares of the company’s stock in a transaction on 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 owned 38,713 shares of the company’s stock, valued at $11,226,770. This represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 97,875 shares of company stock worth $24,998,541 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

Apple Price Performance

Shares of AAPL stock opened at $284.29 on Friday. 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 stock’s 50-day simple moving average is $292.51 and its 200-day simple moving average is $273.20. Apple Inc. has a fifty-two week low of $199.26 and a fifty-two week high of $317.40. The firm has a market capitalization of $4.18 trillion, a price-to-earnings ratio of 34.38, a PEG ratio of 2.47 and a beta of 1.09.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. Apple had a return on equity of 146.69% and a net margin of 27.15%.The company had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. During the same quarter last year, the business posted $1.65 EPS. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, equities analysts forecast that Apple Inc. will post 8.74 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. Stockholders of record on Monday, May 11th were issued a dividend of $0.27 per share. This is a positive change 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 annualized dividend and a dividend yield of 0.4%. Apple’s payout ratio is presently 13.06%.

Analysts Set New Price Targets

A number of research firms have commented on AAPL. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $276.00 target price on shares of Apple in a research report on Tuesday, June 9th. KeyCorp reaffirmed a “sector weight” rating on shares of Apple in a report on Tuesday, June 9th. Wells Fargo & Company reiterated an “overweight” rating and issued a $310.00 price target (up from $300.00) on shares of Apple in a research report on Friday, May 1st. Tigress Financial reiterated a “strong-buy” rating and set a $375.00 price objective (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Apple in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.85.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Some analysts and traders see the recent decline as overdone, arguing that Apple’s pullback has created an attractive entry point and that the stock is oversold at support. Stock Of The Day: Is The Apple Sell-Off Over?
• Positive Sentiment: Morgan Stanley reiterated a Buy rating on AAPL, saying Apple’s pricing and margin-defense strategy supports upside and leaving its $360 target unchanged. Apple Buy Rating Reiterated as Margin Defense Strategy Supports Upside; $360 Price Target Unchanged
• Neutral Sentiment: Wall Street remains divided on the broader implications of Apple’s recent price hikes, with some analysts saying the company can pass through costs thanks to its loyal customer base, while others warn the iPhone will be the real test. Apple Can Get Away With Mac Price Hikes, but iPhone Is the Real Test
• Negative Sentiment: Apple raised prices on several Mac and iPad models because surging memory and storage chip costs tied to AI demand are squeezing margins, raising concerns that higher prices could hurt demand and signal more pressure ahead. Apple raises prices of MacBooks, iPads as memory costs skyrocket
• Negative Sentiment: Apple also lost a key Vision Pro hardware executive to OpenAI, adding to investor concern about execution in its spatial-computing and AI efforts. Apple (AAPL) Loses Key Vision Pro Hardware Chief to OpenAI in Major Talent Blow

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.