Pictet Asset Management Holding SA Purchases 224,720 Shares of Apple Inc. $AAPL

Pictet Asset Management Holding SA increased its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.5% in the 1st quarter, HoldingsChannel reports. The firm owned 9,059,616 shares of the iPhone maker’s stock after purchasing an additional 224,720 shares during the period. Apple comprises approximately 2.4% of Pictet Asset Management Holding SA’s holdings, making the stock its 5th largest position. Pictet Asset Management Holding SA’s holdings in Apple were worth $2,298,860,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in AAPL. Isthmus Partners LLC grew its holdings in Apple by 6.4% during the third quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker’s stock worth $25,000 after acquiring an additional 5,808 shares during the period. Lifetime Wealth Management P.C. acquired a new stake in Apple in the fourth quarter valued at $41,000. ROSS JOHNSON & Associates LLC lifted its holdings in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares during the period. LSV Asset Management purchased a new stake in shares of Apple during the 4th quarter worth $65,000. Finally, Timmons Wealth Management LLC purchased a new stake in shares of Apple during the 4th quarter worth $69,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $308.63 on Monday. The stock has a market cap of $4.53 trillion, a price-to-earnings ratio of 37.32, a PEG ratio of 2.68 and a beta of 1.10. Apple Inc. has a 52 week low of $201.50 and a 52 week high of $317.40. The company’s 50-day moving average price is $295.25 and its 200 day moving average price is $273.84. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.06. The firm had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period last year, the firm posted $1.65 EPS. As a group, research analysts forecast that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid 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 dividend on an annualized basis and a dividend yield of 0.3%. Apple’s dividend payout ratio is 13.06%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group reiterated a “hold” rating on shares of Apple in a report on Tuesday, June 9th. Needham & Company LLC reissued a “hold” rating 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. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Apple in a report on Monday, June 8th. Finally, Wedbush reiterated an “outperform” rating and set a $400.00 price target on shares of Apple in a research report on Friday, June 5th. One investment 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $314.85.

Insider Buying and Selling

In related news, insider Ben Borders sold 1,274 shares of Apple stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 38,713 shares in the company, valued at $11,226,770. The trade was a 3.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevan Parekh sold 1,534 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total value of $421,850.00. Following the completion of the sale, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $3,675,650. The trade was a 10.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 2,924 shares of company stock valued at $825,546. Corporate insiders own 0.06% of the company’s stock.

Apple News Summary

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Reports that Apple plans at least five new iPhone models through early 2027, including a stronger foldable iPhone push, have reinforced expectations for a fresh product cycle and a longer growth runway. Apple plans five new iPhones through 2027, eyes Chinese-made chips amid foldable push, reports say
• Positive Sentiment: Apple also appears to be benefiting from investor optimism that it can navigate the memory-chip shortage and secure supply, including possible deals with lower-cost Chinese chipmakers, which could help protect future production. Apple negotiates with blacklisted Chinese chipmakers amid AI-driven memory crunch
• Positive Sentiment: Several market commentary pieces said Apple is holding up better than the broader tech sector, with traders viewing recent weakness as a buying opportunity and analysts still pointing to solid upside potential. Apple’s Aggressive Price Hikes Raise Eyebrows As Wall Street Links AI Chip Shortages To Inflation Pressure
• Neutral Sentiment: Apple’s recent price hikes on Macs and iPads are being interpreted two ways: as a sign of inflationary component costs, but also as a margin-protection move that may not hurt demand as much as feared. Jim Cramer’s Latest Thought on Apple Inc. (AAPL)
• Neutral Sentiment: Apple’s insider-selling activity and mixed institutional positioning are adding caution, but they are not the main driver of the stock today. Apple Stock (AAPL) Opinions on Recent Price Hikes and Analyst Views
• Negative Sentiment: Some coverage continues to flag pressure on Apple’s margins and demand if higher component costs force more price increases, which could weigh on sentiment over time. Is Apple stock in trouble? Rising costs threaten margins, demand

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.