Key Points
- Apple insider Ben Borders sold 116 shares on June 16 at an average price of $295.14, totaling about $34,236. The filing says the sale was made to cover tax withholding tied to vesting equity awards.
- Apple recently beat quarterly expectations, reporting EPS of $2.01 versus the $1.95 consensus and revenue of $111.18 billion, up 16.6% year over year. Analysts now expect the company to post 8.75 EPS for the full year.
- Apple also raised its quarterly dividend to $0.27 from $0.26, reflecting a modest annualized yield of about 0.4%. The stock remains supported by a consensus Moderate Buy rating and an average price target of $314.59.
Apple Inc. (NASDAQ:AAPL - Get Free Report) insider Ben Borders sold 116 shares of the 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 directly owned 38,713 shares of the company's stock, valued at $11,425,754.82. The trade was a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Ben Borders also recently made the following trade(s):
- On Friday, May 8th, Ben Borders sold 1,274 shares of Apple stock. The shares were sold at an average price of $290.00, for a total value of $369,460.00.
Apple Price Performance
AAPL stock opened at $295.95 on Thursday. The company has a market capitalization of $4.35 trillion, a P/E ratio of 35.79, a PEG ratio of 2.61 and a beta of 1.09. Apple Inc. has a twelve month low of $195.07 and a twelve month high of $317.40. The business has a 50 day simple moving average of $288.06 and a 200-day simple moving average of $272.66. 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 - Get Free Report) last posted its quarterly earnings data 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 business 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 company's revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.65 earnings per share. As a group, equities analysts anticipate that Apple Inc. will post 8.75 EPS for the current year.
Apple Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a $0.27 dividend. The ex-dividend date of this dividend was Monday, May 11th. This is an increase from Apple's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. Apple's dividend payout ratio is currently 13.06%.
Institutional Investors Weigh In On Apple
A number of hedge funds and other institutional investors have recently bought and sold shares of AAPL. Isthmus Partners LLC lifted its holdings in Apple by 6.4% in the third quarter. Isthmus Partners LLC now owns 97,177 shares of the iPhone maker's stock valued at $25,000 after acquiring an additional 5,808 shares during the period. Sellwood Investment Partners LLC lifted its holdings in Apple by 110.9% in the third quarter. Sellwood Investment Partners LLC now owns 135 shares of the iPhone maker's stock valued at $34,000 after acquiring an additional 71 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. Finally, LSV Asset Management acquired a new stake in Apple in the fourth quarter valued at $65,000. Institutional investors and hedge funds own 67.73% of the company's stock.
Apple News Roundup
Here are the key news stories impacting Apple this week:
- Positive Sentiment: Bank of America reiterated a Buy rating on Apple (AAPL) and maintained a $380 target, pointing to pricing power and supply-chain strength. Article Title
- Positive Sentiment: Apple appears better positioned than peers to handle the AI-driven memory shortage because it built up inventory and has scale to absorb supply pressure. Article Title
- Neutral Sentiment: Apple reportedly plans product price increases as memory and storage chip costs rise, which could help margins but may also test consumer demand. Article Title
- Neutral Sentiment: Apple is reportedly working on new AI wearables and a foldable iPhone for 2027, which supports the long-term product pipeline but is too far out to move near-term results. Article Title
- Negative Sentiment: Italy opened a Digital Markets Act probe into Apple’s cloud interoperability practices, creating another regulatory risk in Europe. Article Title
Analyst Ratings Changes
A number of equities analysts recently weighed in on AAPL shares. Jefferies Financial Group reiterated a "hold" rating on shares of Apple in a research report on Tuesday, June 9th. Moffett Nathanson lifted their price objective on shares of Apple from $241.00 to $270.00 and gave the company a "neutral" rating in a research report on Wednesday, February 25th. BNP Paribas Exane upgraded shares of Apple from a "neutral" rating to an "outperform" rating and set a $300.00 price objective on the stock in a research report on Friday, April 17th. Stifel Nicolaus set a $330.00 price objective on shares of Apple in a research report on Monday, March 2nd. Finally, Morgan Stanley set a $325.00 price objective on shares of Apple in a research report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and an average target price of $314.59.
View Our Latest Research Report on Apple
Apple Company Profile
(
Get Free Report)
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.
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