Summit Asset Management LLC Sells 201 Shares of Apple Inc. (NASDAQ:AAPL)

May 2, 2025

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Summit Asset Management LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 43,751 shares of the iPhone maker’s stock after selling 201 shares during the quarter. Apple comprises about 1.9% of Summit Asset Management LLC’s holdings, making the stock its 17th biggest holding. Summit Asset Management LLC’s holdings in Apple were worth $10,956,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Atlantic Family Wealth LLC acquired a new stake in Apple during the 4th quarter worth $1,943,000. Delap Wealth Advisory LLC increased its holdings in shares of Apple by 2.3% in the fourth quarter. Delap Wealth Advisory LLC now owns 17,818 shares of the iPhone maker’s stock worth $4,462,000 after acquiring an additional 394 shares in the last quarter. Stevens Capital Partners raised its position in shares of Apple by 14.7% during the fourth quarter. Stevens Capital Partners now owns 10,969 shares of the iPhone maker’s stock worth $2,747,000 after purchasing an additional 1,405 shares during the period. Allodium Investment Consultants LLC bought a new position in shares of Apple during the 4th quarter valued at about $228,000. Finally, MONECO Advisors LLC grew its position in shares of Apple by 9.6% in the 4th quarter. MONECO Advisors LLC now owns 111,982 shares of the iPhone maker’s stock valued at $28,043,000 after purchasing an additional 9,837 shares during the period. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Tigress Financial upped their target price on shares of Apple from $295.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 3rd. JPMorgan Chase & Co. decreased their price objective on Apple from $270.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Moffett Nathanson restated a “sell” rating and issued a $188.00 target price (down previously from $202.00) on shares of Apple in a research note on Tuesday, January 7th. Loop Capital decreased their price target on shares of Apple from $230.00 to $215.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, Jefferies Financial Group raised shares of Apple from an “underperform” rating to a “hold” rating and cut their price objective for the stock from $202.33 to $167.88 in a research report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $232.63.

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Insider Activity at Apple

In other news, CEO Timothy D. Cook sold 108,136 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $223.65, for a total value of $24,184,616.40. Following the sale, the chief executive officer now directly owns 3,280,295 shares in the company, valued at approximately $733,637,976.75. This trade represents a 3.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevan Parekh sold 4,570 shares of the company’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total transaction of $941,420.00. Following the transaction, the chief financial officer now owns 4,569 shares of the company’s stock, valued at approximately $941,214. This represents a 50.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 187,021 shares of company stock valued at $41,760,140 over the last ninety days. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

Shares of Apple stock opened at $213.32 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a market cap of $3.20 trillion, a PE ratio of 33.86, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. The company has a 50 day moving average of $212.98 and a 200-day moving average of $228.83. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.62 by $0.03. The business had revenue of $95.36 billion during the quarter, compared to the consensus estimate of $94.04 billion. Apple had a net margin of 24.30% and a return on equity of 160.83%. The company’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.53 earnings per share. As a group, equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 12th will be given a dividend of $0.26 per share. This is an increase from Apple’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. Apple’s dividend payout ratio is currently 15.87%.

Apple declared that its board has initiated a stock buyback plan on Thursday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Apple Company Profile

(Free Report)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.