Apple Inc. $AAPL is Rockefeller Capital Management L.P.’s 3rd Largest Position

Rockefeller Capital Management L.P. increased its stake in Apple Inc. (NASDAQ:AAPL) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,504,923 shares of the iPhone maker’s stock after buying an additional 245,651 shares during the quarter. Apple comprises 3.2% of Rockefeller Capital Management L.P.’s portfolio, making the stock its 3rd largest position. Rockefeller Capital Management L.P.’s holdings in Apple were worth $1,768,429,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Apple by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,426,283,914 shares of the iPhone maker’s stock valued at $387,749,545,000 after purchasing an additional 26,856,752 shares during the period. State Street Corp boosted its stake in shares of Apple by 1.1% in the fourth quarter. State Street Corp now owns 604,056,505 shares of the iPhone maker’s stock valued at $164,218,801,000 after purchasing an additional 6,555,392 shares during the period. Geode Capital Management LLC grew its holdings in Apple by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 358,032,517 shares of the iPhone maker’s stock valued at $97,031,587,000 after purchasing an additional 1,866,103 shares in the last quarter. Morgan Stanley increased its stake in Apple by 0.6% during the 4th quarter. Morgan Stanley now owns 230,483,035 shares of the iPhone maker’s stock worth $62,659,118,000 after buying an additional 1,379,651 shares during the period. Finally, Norges Bank purchased a new stake in Apple during the 4th quarter worth $52,266,468,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of AAPL stock opened at $294.98 on Wednesday. The firm has a market cap of $4.33 trillion, a P/E ratio of 35.67, a P/E/G ratio of 2.58 and a beta of 1.09. 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 $199.26 and a 1-year high of $317.40. The firm has a fifty day moving average of $291.15 and a two-hundred day moving average of $273.06.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share for the quarter, topping 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 net margin of 27.15% and a return on equity of 146.69%. The company’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.65 EPS. As a group, research analysts anticipate that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a dividend of $0.27 per share. The ex-dividend date 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 yield of 0.4%. Apple’s payout ratio is currently 13.06%.

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 64,949 shares of the stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $254.23, for a total transaction of $16,511,984.27. Following the transaction, the chief executive officer owned 3,280,418 shares of the company’s stock, valued at $833,980,668.14. This trade represents a 1.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 116 shares of Apple stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $295.14, for a total value of $34,236.24. Following the completion of the transaction, the insider owned 38,713 shares of the company’s stock, valued at approximately $11,425,754.82. The trade was a 0.30% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 97,875 shares of company stock worth $24,998,541. 0.06% of the stock is owned by corporate insiders.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Wall Street is becoming more optimistic about Apple’s new Siri and AI strategy after the post-WWDC selloff, suggesting investors may be overreacting to near-term skepticism. After an Initial Panic, Wall Street’s Leaning Into Apple’s New Siri AI
• Positive Sentiment: Reports that Apple has agreed to partner with Intel to design and manufacture chips in the U.S. are being viewed as a supply-chain diversification win and a long-term catalyst for Apple’s hardware roadmap. Apple’s Intel Deal Arrives at the Right Time for Its Stock
• Positive Sentiment: Tim Cook’s comments about higher memory costs and upcoming price increases are being interpreted by some analysts as supportive of Apple’s earnings power, since price hikes could help offset component inflation. Apple: Empirical Evidence Suggests Upcoming Price Hikes Will Boost Earnings
• Neutral Sentiment: Apple’s TV and streaming strategy is drawing attention, but the discussion appears more explanatory than immediately material to the stock. Apple Explains TV Library Strategy
• Neutral Sentiment: A Zacks comparison of NVIDIA and Apple highlights Apple’s lower valuation and services strength, reinforcing the stock’s defensive appeal without changing the near-term setup. NVIDIA vs. Apple: Which Tech Titan Is the Better Buy Right Now?
• Negative Sentiment: Britain’s competition tribunal approved a £3 billion class action over iCloud fees, adding a meaningful legal overhang and potential financial liability for Apple. UK tribunal gives go ahead for $4 billion lawsuit against Apple over iCloud services
• Negative Sentiment: Apple also faces reputational risk after closing its first unionized U.S. store, with the union accusing the company of retaliation. Apple Just Closed Its First Unionized U.S. Store
• Negative Sentiment: Several reports say Apple is forcing price increases on hardware because memory and chip costs are rising, which could pressure demand if consumers push back. Memory’s price surge threatens Apple’s ‘magic formula’ — and the economy

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. KGI Securities cut shares of Apple from an “outperform” rating to a “hold” rating and set a $315.00 price objective for the company. in a research report on Monday. Robert W. Baird set a $310.00 target price on Apple in a research report on Friday, May 1st. The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research note on Monday, March 2nd. Jefferies Financial Group reissued a “hold” rating on shares of Apple in a report on Tuesday, June 9th. Finally, DA Davidson restated a “neutral” rating and set a $270.00 price objective on shares of Apple in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $314.85.

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.