Apple Inc. $AAPL is Sumitomo Life Insurance Co.’s 9th Largest Position

Sumitomo Life Insurance Co. raised its stake in Apple Inc. (NASDAQ:AAPL) by 8.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 313,432 shares of the iPhone maker’s stock after buying an additional 24,239 shares during the quarter. Apple comprises 2.3% of Sumitomo Life Insurance Co.’s investment portfolio, making the stock its 9th largest position. Sumitomo Life Insurance Co.’s holdings in Apple were worth $85,210,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AAPL. First National Bank of Hutchinson lifted its position in shares of Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after buying an additional 6,982 shares in the last quarter. Eagle Capital Management LLC lifted its position in shares of Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after buying an additional 272 shares in the last quarter. Brighton Jones LLC lifted its position in shares of Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after buying an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after buying an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE lifted its position in shares of Apple by 2.4% during the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after buying an additional 1,155 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Apple

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 Trading Down 1.5%

Shares of AAPL stock opened at $291.13 on Friday. The company’s fifty day simple moving average is $285.64 and its two-hundred day simple moving average is $272.27. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 1.02. Apple Inc. has a 1 year low of $195.07 and a 1 year high of $317.40. The stock has a market capitalization of $4.28 trillion, a price-to-earnings ratio of 35.20, a PEG ratio of 2.57 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, beating analysts’ consensus estimates of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business had revenue of $111.18 billion for the quarter, compared to analysts’ expectations of $109.46 billion. During the same quarter in the previous year, the firm posted $1.65 EPS. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, analysts anticipate that Apple Inc. will post 8.75 earnings per share for the current year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. Apple’s payout ratio is presently 13.06%.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 64,949 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the sale, the chief executive officer owned 3,280,418 shares of the company’s stock, valued at $833,980,668.14. The trade was a 1.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the sale, the chief financial officer directly owned 13,366 shares in the company, valued at $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 quarter, insiders sold 97,759 shares of company stock worth $24,964,305. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on AAPL shares. The Goldman Sachs Group reissued a “buy” rating on shares of Apple in a research report on Monday, March 2nd. Citigroup reissued a “buy” rating on shares of Apple in a research report on Monday, June 1st. UBS Group reissued a “buy” rating on shares of Apple in a research report on Tuesday. Oppenheimer reissued a “market perform” rating on shares of Apple in a research report on Tuesday. Finally, Wedbush reissued an “outperform” rating and set a $400.00 target price on shares of Apple in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $314.59.

Apple 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.