Sumitomo Life Insurance Co. Has $85.21 Million Stock Holdings in Apple Inc. $AAPL

Sumitomo Life Insurance Co. raised its stake in shares of Apple Inc. (NASDAQ:AAPL) by 8.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 313,432 shares of the iPhone maker’s stock after purchasing an additional 24,239 shares during the period. Apple accounts for approximately 2.3% of Sumitomo Life Insurance Co.’s investment portfolio, making the stock its 9th biggest position. Sumitomo Life Insurance Co.’s holdings in Apple were worth $85,210,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Kane Investment Management Inc. raised its position in Apple by 3.3% during the 4th quarter. Kane Investment Management Inc. now owns 41,683 shares of the iPhone maker’s stock worth $11,332,000 after purchasing an additional 1,331 shares during the last quarter. Integrity Investment Advisors LLC raised its position in Apple by 403.4% during the 4th quarter. Integrity Investment Advisors LLC now owns 23,160 shares of the iPhone maker’s stock worth $6,296,000 after purchasing an additional 18,559 shares during the last quarter. Asset Allocation Strategies LLC raised its position in Apple by 1.6% during the 4th quarter. Asset Allocation Strategies LLC now owns 7,747 shares of the iPhone maker’s stock worth $2,106,000 after purchasing an additional 120 shares during the last quarter. Tudor Financial Inc. raised its position in Apple by 1.6% during the 4th quarter. Tudor Financial Inc. now owns 10,630 shares of the iPhone maker’s stock worth $2,890,000 after purchasing an additional 166 shares during the last quarter. Finally, Wealthspire Advisors LLC raised its position in Apple by 33.4% during the 4th quarter. Wealthspire Advisors LLC now owns 590,564 shares of the iPhone maker’s stock worth $160,551,000 after purchasing an additional 147,930 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AAPL has been the subject of several analyst reports. Maxim Group reaffirmed a “buy” rating and set a $350.00 target price (up from $310.00) on shares of Apple in a research report on Tuesday. DA Davidson reaffirmed a “neutral” rating and set a $270.00 target price on shares of Apple in a research report on Friday, May 1st. Tigress Financial reaffirmed a “strong-buy” rating and set a $375.00 target price (up from $305.00) on shares of Apple in a research report on Thursday, May 14th. Wedbush reiterated an “outperform” rating and set a $400.00 price target on shares of Apple in a report on Friday, June 5th. Finally, Bank of America reiterated a “buy” rating and set a $380.00 price target (up from $330.00) on shares of Apple in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $314.59.

Insider Transactions at Apple

In other news, CFO Kevan Parekh sold 1,534 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was 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 $3,675,650. This trade represents a 10.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Timothy D. Cook sold 64,949 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total value of $16,511,984.27. Following the completion of the sale, the chief executive officer owned 3,280,418 shares of the company’s stock, valued at approximately $833,980,668.14. This represents a 1.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 97,759 shares of company stock valued at $24,964,305. 0.06% of the stock is currently owned by corporate insiders.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s Services business posted record revenue in the fiscal second quarter, supported by ecosystem growth, AI-related updates, and its huge installed device base. Apple Continues to Expand Services Business: What’s the Path Ahead?
• Positive Sentiment: Several commentators said Apple still has strong fundamentals, including a solid balance sheet, loyal customer base, and products investors continue to love, which supports the long-term bull case. Jim Cramer on Apple: “It Still Has Products We All Love”
• Positive Sentiment: Analysts at Erste Group Bank raised their earnings estimates for Apple, signaling expectations for steady profit growth over the next two fiscal years. Apple earnings estimate update
• Neutral Sentiment: Apple’s WWDC announcements showed a clearer AI roadmap, including next-generation Siri features and device software updates, but the market appears to be waiting for stronger evidence that these changes will drive meaningful revenue growth. Apple Unveils Siri AI. Here’s Why It’s Not Impressing Investors
• Neutral Sentiment: Some coverage suggested Apple’s AI launch could help the stock over time, but it may take more than Siri upgrades alone to restore investor enthusiasm. Apple Just Gave Investors a Glimpse of Is AI Future at WWDC. It May Take More to Revive AAPL Stock.
• Negative Sentiment: Investors are worried Apple’s AI ambitions are colliding with a memory-cost crunch, creating pricing pressure that could weigh on margins. Apple Faces a No-Win Pricing Dilemma. Should Investors Be Worried?
• Negative Sentiment: Multiple reports say the market was disappointed that Apple’s Siri AI reveal did not feel like a big enough breakthrough to justify a sharper rerating of the stock. Apple’s AI News Underwhelms. Siri AI Release Concerns Persist.

Apple Stock Performance

Shares of AAPL opened at $291.13 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. The stock has a 50-day moving average of $285.64 and a 200-day moving average of $272.27. The company has a market cap of $4.28 trillion, a PE ratio of 35.20, a P/E/G ratio of 2.57 and a beta of 1.09. Apple Inc. has a one year low of $195.07 and a one year high of $317.40.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating the consensus estimate of $1.95 by $0.06. The company had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. Apple had a return on equity of 146.69% and a net margin of 27.15%.The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the business posted $1.65 EPS. On average, equities research analysts predict that Apple Inc. will post 8.75 EPS 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 paid a $0.27 dividend. The ex-dividend date was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. This is a boost from Apple’s previous quarterly dividend of $0.26. Apple’s dividend payout ratio (DPR) is 13.06%.

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.